Stock Traders Purchase High Volume of Bank of America Corp. Put Options (BAC)
Bank of America Corp. (NYSE:BAC) was the recipient of some unusual options trading activity on Monday. Stock traders bought 125,380 put options on the stock, StockRatingsNetwork reports. This is an increase of 160% compared to the typical daily volume of 48,269 put options.
A number of research firms have recently commented on BAC. Analysts at Raymond James raised their price target on shares of Bank of America Corp. from $16.00 to $17.00 in a research note to investors on Thursday. Separately, analysts at Citigroup Inc. upgraded shares of Bank of America Corp. from a “neutral” rating to a “buy” rating in a research note to investors on Thursday. They now have a $19.00 price target on the stock, up previously from $16.00. Finally, analysts at TheStreet upgraded shares of Bank of America Corp. from a “hold” rating to a “buy” rating in a research note to investors on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and thirteen have assigned a buy rating to the stock. Bank of America Corp. presently has an average rating of “Hold” and a consensus price target of $15.17.
Bank of America Corp. (NYSE:BAC) traded up 1.52% on Monday, hitting $16.66. 114,616,136 shares of the company’s stock traded hands. Bank of America Corp. has a 52 week low of $10.98 and a 52 week high of $16.50. The stock has a 50-day moving average of $15.5 and a 200-day moving average of $14.46. The company has a market cap of $177.7 billion and a price-to-earnings ratio of 25.02.
Bank of America Corp. (NYSE:BAC) last posted its quarterly earnings results on Wednesday, October 16th. The company reported $0.20 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.19 by $0.01. The company had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.11 billion. The company’s quarterly revenue was up 5.3% on a year-over-year basis. On average, analysts predict that Bank of America Corp. will post $0.89 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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