Bank of America Corp. Stock Rating Lowered by Goldman Sachs Group Inc. (BAC)
Bank of America Corp. (NYSE:BAC) was downgraded by research analysts at Goldman Sachs Group Inc. from a “buy” rating to a “neutral” rating in a report released on Friday, StockRatingsNetwork.com reports.
A number of other analysts have also recently weighed in on BAC. Analysts at Guggenheim downgraded shares of Bank of America Corp. (NYSE:BAC) from a “buy” rating to a “neutral” rating in a research note to investors on Friday. Separately, analysts at Societe Generale initiated coverage on shares of Bank of America Corp. (NYSE:BAC) in a research note to investors on Thursday, September 19th. They set a “buy” rating and a $17.00 price target on the stock. Finally, 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, September 18th. They now have an “overweight” rating on the stock. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $14.30.
Bank of America Corp. (NYSE:BAC) opened at 13.9737 on Friday. Bank of America Corp. has a one year low of $8.79 and a one year high of $15.03. The stock has a 50-day moving average of $14.38 and a 200-day moving average of $13.39. The company has a market cap of $150.1 billion and a P/E ratio of 30.81.
Bank of America Corp. (NYSE:BAC) last released its earnings data on Wednesday, July 17th. The company reported $0.32 EPS for the quarter, beating the Thomson Reuters 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 previous year, the company posted $0.19 earnings per share. Analysts expect that Bank of America Corp. will post $0.90 EPS for the current fiscal year.
Bank of America Corporation (NYSE:BAC) is a bank holding company, and a financial holding company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.