Bank of America Sees Unusually Large Options Volume (BAC)
Shares of Bank of America (NYSE:BAC) were the target of unusually large options trading activity on Wednesday. Traders acquired 155,790 call options on the company, American Banking and Market News reports. This is an increase of approximately 117% compared to the typical daily volume of 71,734 call options.
A number of analysts have recently weighed in on BAC shares. Analysts at Zacks reiterated an “underperform” rating on shares of Bank of America in a research note on Wednesday, May 21st. They now have a $13.00 price target on the stock. Separately, analysts at Citigroup Inc. initiated coverage on shares of Bank of America in a research note on Wednesday, May 21st. They set a “buy” rating on the stock. Finally, analysts at MKM Partners initiated coverage on shares of Bank of America in a research note on Wednesday, May 21st. They set a “buy” rating and a $18.00 price target on the stock. One analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $16.85.
Shares of Bank of America (NYSE:BAC) traded up 0.38% on Wednesday, hitting $15.65. 69,798,032 shares of the company’s stock traded hands. Bank of America has a 52 week low of $12.13 and a 52 week high of $18.03. The stock has a 50-day moving average of $15.10 and a 200-day moving average of $16.11. The company has a market cap of $164.6 billion and a P/E ratio of 20.25.
Bank of America (NYSE:BAC) last announced its earnings results 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. On average, analysts predict that Bank of America will post $0.91 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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