Bank of America Corp. Sees Unusually High Options Volume (BAC)
Bank of America Corp. (NYSE:BAC) saw some unusual options trading activity on Wednesday. Stock investors purchased 156,538 call options on the stock, AnalystRatingsNetwork reports. This is an increase of 130% compared to the typical daily volume of 68,015 call options.
Several analysts have recently commented on the stock. Analysts at JPMorgan Chase & Co. raised their price target on shares of Bank of America Corp. (NYSE:BAC) from $15.50 to $16.00 in a research note to investors on Wednesday. They now have an “overweight” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Bank of America Corp. (NYSE:BAC) in a research note to investors on Tuesday, September 3rd. They now have a $15.00 price target on the stock. Finally, analysts at Evercore Partners reiterated an “overweight” rating on shares of Bank of America Corp. (NYSE:BAC) in a research note to investors on Thursday, August 29th. They now have a $16.00 price target on the stock.
Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and twelve have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $14.24.
Bank of America Corp. (NYSE:BAC) traded up 1.13% on Wednesday, hitting $14.715. The stock had a trading volume of 127,205,384 shares. Bank of America Corp. has a 1-year low of $8.70 and a 1-year high of $15.03. The stock has a 50-day moving average of $14.4 and a 200-day moving average of $13.27. The company has a market cap of $158.1 billion and a P/E ratio of 31.84.
Bank of America Corp. (NYSE:BAC) last released its earnings data on Wednesday, July 17th. The company reported $0.32 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.25 by $0.07. The company had revenue of $22.95 billion for the quarter, compared to the consensus estimate of $22.61 billion. During the same quarter in the prior year, the company posted $0.19 earnings per share. On average, analysts predict that Bank of America Corp. will post $0.91 earnings per share for the current fiscal year.
Bank of America Corporation (NYSE:BAC) is a bank holding company, and a financial holding company.
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