Bank of America Corp. Now Covered by Jefferies Group (BAC)
Jefferies Group started coverage on shares of Bank of America Corp. (NYSE:BAC) in a research note issued on Wednesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $19.00 price target on the stock. Jefferies Group’s target price would indicate a potential upside of 14.60% from the company’s current price.
Bank of America Corp. (NYSE:BAC) traded up 0.48% on Wednesday, hitting $16.58. The stock had a trading volume of 101,208,024 shares. Bank of America Corp. has a 52-week low of $10.98 and a 52-week high of $16.79. The stock has a 50-day moving average of $15.65 and a 200-day moving average of $14.54. The company has a market cap of $176.8 billion and a price-to-earnings ratio of 25.15. Bank of America Corp. also was the recipient of some unusual options trading activity on Monday. Traders acquired 125,380 put options on the stock. This is an increase of 160% compared to the average daily volume of 48,269 put options.
Bank of America Corp. (NYSE:BAC) last released its earnings data on Wednesday, October 16th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the 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 revenue for the quarter 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.
A number of other firms have also 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, January 2nd. 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, January 2nd. 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 analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Bank of America Corp. has an average rating of “Hold” and an average price target of $15.43.
Bank of America Corporation (NYSE:BAC) is a bank holding company, and a financial holding company.
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