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Analysts at Citigroup Inc. started coverage on shares of Bank of America (NYSE:BAC) in a research report issued to clients and investors on Wednesday. The firm set a “buy” rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Analysts at MKM Partners initiated coverage on shares of Bank of America in a research note on Wednesday. They set a “buy” rating and a $18.00 price target on the stock. Separately, analysts at Portales Partners upgraded shares of Bank of America from an “underperform” rating to a “sector perform” rating in a research note on Monday, May 12th. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of Bank of America in a research note on Monday, May 12th. They now have a $18.00 price target on the stock, down previously from $18.50. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the stock. Bank of America currently has an average rating of “Hold” and an average target price of $17.02.

Bank of America (NYSE:BAC) traded up 0.68% on Wednesday, hitting $14.6281. The stock had a trading volume of 20,168,380 shares. Bank of America has a 52 week low of $12.13 and a 52 week high of $18.03. The stock’s 50-day moving average is $15.67 and its 200-day moving average is $16.05. The company has a market cap of $153.8 billion and a P/E ratio of 18.87. Bank of America also was the recipient of a significant increase in short interest in April. As of April 30th, there was short interest totalling 107,624,635 shares, an increase of 4.6% from the April 15th total of 102,910,447 shares. Based on an average daily volume of 120,062,793 shares, the days-to-cover ratio is presently 0.9 days. Currently, 1.0% of the shares of the stock are sold short.

Bank of America (NYSE:BAC) last released its earnings data on Wednesday, April 16th. The company reported $0.35 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.20 earnings per share. The company’s quarterly revenue was down 2.7% on a year-over-year basis. Analysts expect that Bank of America will post $0.93 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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