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Bank of America (NYSE:BAC) was downgraded by stock analysts at Nomura from a “buy” rating to a “neutral” rating in a report issued on Wednesday, reports. They currently have a $17.00 target price on the stock, down from their previous target price of $150.00. Nomura’s price objective suggests a potential upside of 4.49% from the stock’s previous close.

Bank of America (NYSE:BAC) traded down 0.68% on Wednesday, hitting $16.11. The stock had a trading volume of 24,457,926 shares. Bank of America has a 52 week low of $13.60 and a 52 week high of $18.03. The stock has a 50-day moving average of $15.54 and a 200-day moving average of $15.85. The company has a market cap of $169.4 billion and a price-to-earnings ratio of 25.42. Bank of America also was the recipient of some unusual options trading activity on Tuesday. Investors bought 217,450 call options on the company. This is an increase of 102% compared to the average volume of 107,451 call options.

Bank of America (NYSE:BAC) last announced its earnings results on Wednesday, July 16th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.11. The company had revenue of $21.96 billion for the quarter, compared to the consensus estimate of $21.69 billion. During the same quarter in the previous year, the company posted $0.32 earnings per share. On average, analysts predict that Bank of America will post $0.80 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Friday, September 26th. Investors of record on Friday, September 5th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Wednesday, September 3rd. This is a positive change from Bank of America’s previous quarterly dividend of $0.01.

Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks upgraded shares of Bank of America from an “underperform” rating to a “neutral” rating in a research note on Friday, August 22nd. They now have a $17.00 price target on the stock. Separately, analysts at Oppenheimer raised their price target on shares of Bank of America from $19.00 to $20.00 in a research note on Monday, July 7th. They now have an “outperform” rating on the stock. 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, July 1st. They now have a $18.00 price target on the stock, up previously from $16.50. Eight research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $69.13.

Bank of America Corporation (NYSE:BAC) is a bank holding company, and a financial holding company.

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