Bank of America (BAC) closed at $40.14 in the latest trading session, marking a +0.75% move from the prior day. The stock lagged the S&P 500's daily gain of 0.85%.Heading into today, shares of the nation's second-largest bank had lost 3.04% over the past month, lagging the Finance sector's loss of 2.02% and the S&P 500's loss of 0.37% in that time.BAC will be looking to display strength as it nears its next earnings release. On that day, BAC is projected to report earnings of $0.71 per share, which would represent year-over-year growth of 39.22%. Our most recent consensus estimate is calling for quarterly revenue of $21.7 billion, up 6.73% from the year-ago period.BAC's full-year Zacks Consensus Estimates are calling for earnings of $3.34 per share and revenue of $87.86 billion. These results would represent year-over-year changes of +78.61% and +2.72%, respectively.Any recent changes to analyst estimates for BAC should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 1.08% higher. BAC is currently sporting a Zacks Rank of #3 (Hold).Looking at its valuation, BAC is holding a Forward P/E ratio of 11.94. This valuation marks a premium compared to its industry's average Forward P/E of 10.65.Meanwhile, BAC's PEG ratio is currently 1.71. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. BAC's industry had an average PEG ratio of 1.21 as of yesterday's close.The Banks - Major Regional industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 121, which puts it in the top 48% of all 250+ industries.The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions. Time to Invest in Legal Marijuana If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027. After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%. You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.Today, Download Marijuana Moneymakers FREE >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Bank of America Corporation (BAC): Free Stock Analysis Report To read this article on Zacks.com click here.