Bank of America Short Interest Down 7.8% in April (BAC)
Bank of America (NYSE:BAC) was the target of a significant decline in short interest in April. As of April 15th, there was short interest totalling 102,910,447 shares, a decline of 7.8% from the March 31st total of 111,575,739 shares, AnalystRatings.Net reports. Approximately 1.0% of the shares of the stock are short sold. Based on an average daily volume of 94,945,629 shares, the days-to-cover ratio is presently 1.1 days.
A number of research firms have recently commented on BAC. Analysts at Guggenheim cut their price target on shares of Bank of America from $18.00 to $17.00 in a research note on Tuesday. Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Bank of America in a research note on Tuesday, April 29th. They now have a $17.50 price target on the stock. Finally, analysts at Sandler O’Neill cut their price target on shares of Bank of America to $16.50 in a research note on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $17.03.
Bank of America (NYSE:BAC) opened at 14.93 on Friday. Bank of America has a one year low of $12.13 and a one year high of $18.03. The stock’s 50-day moving average is $16.26 and its 200-day moving average is $16.00. The company has a market cap of $157.0 billion and a price-to-earnings ratio of 19.22.
Bank of America (NYSE:BAC) last released its earnings data on Wednesday, April 16th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.30. The company had revenue of $22.80 billion for the quarter, compared to the consensus estimate of $22.38 billion. During the same quarter in the previous year, the company posted $0.20 earnings per share. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. Analysts expect that Bank of America will post $0.94 EPS 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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