Bank of America Short Interest Up 14.9% in June (BAC)
Bank of America (NYSE:BAC) saw a significant increase in short interest in June. As of June 13th, there was short interest totalling 106,862,341 shares, an increase of 14.9% from the May 30th total of 93,012,599 shares, AnalystRatings.NET reports. Based on an average daily trading volume, of 59,937,892 shares, the short-interest ratio is currently 1.8 days. Approximately 1.0% of the company’s shares are sold short.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated an “underperform” rating on shares of Bank of America in a research note on Thursday. They now have a $14.00 price target on the stock. Separately, analysts at Citigroup Inc. upgraded shares of Bank of America to a “buy” rating in a research note on Wednesday. Finally, analysts at Deutsche Bank upgraded shares of Bank of America from a “hold” rating to a “buy” rating in a research note on Tuesday. They now have a $18.00 price target on the stock, up previously from $16.50. One analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $16.93.
Shares of Bank of America (NYSE:BAC) opened at 16.03 on Friday. Bank of America has a 52-week low of $12.91 and a 52-week high of $18.03. The stock has a 50-day moving average of $15.3 and a 200-day moving average of $16.11. The company has a market cap of $168.6 billion and a P/E ratio of 20.58.
Bank of America (NYSE:BAC) last announced its earnings results 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. On average, analysts predict that Bank of America will post $0.91 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, July 25th. Investors of record on Monday, June 30th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.25%. The ex-dividend date is Friday, June 20th.
Bank of America Corporation (NYSE:BAC) is a bank holding company, and a financial holding company.