Bank of America Corporation (NYSE:BAC) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Friday.

Several other equities research analysts have also weighed in on BAC. Vetr lowered Bank of America Corporation from a “buy” rating to a “hold” rating and set a $26.28 price target on the stock. in a research report on Monday, March 13th. Zacks Investment Research lowered Bank of America Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, March 15th. Credit Suisse Group lifted their price target on Bank of America Corporation to $27.00 and gave the company an “outperform” rating in a research report on Thursday, March 16th. Compass Point lowered Bank of America Corporation from a “neutral” rating to a “sell” rating and set a $20.00 price target on the stock. in a research report on Thursday, March 16th. Finally, Citigroup Inc. lowered Bank of America Corporation from a “buy” rating to a “neutral” rating and lifted their price target for the company from $22.00 to $25.00 in a research report on Tuesday, April 4th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company’s stock. Bank of America Corporation has a consensus rating of “Buy” and a consensus target price of $22.78.

Shares of Bank of America Corporation (NYSE:BAC) traded up 0.4848% on Friday, reaching $24.8298. The company’s stock had a trading volume of 37,755,304 shares. The firm’s 50-day moving average price is $23.26 and its 200-day moving average price is $23.42. The stock has a market cap of $261.12 billion, a P/E ratio of 15.2799 and a beta of 1.27. Bank of America Corporation has a 12 month low of $12.45 and a 12 month high of $25.80.

The business also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Friday, June 2nd were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 1.21%. The ex-dividend date was Wednesday, May 31st. Bank of America Corporation’s dividend payout ratio (DPR) is 18.99%.

ILLEGAL ACTIVITY WARNING: “Bank of America Corporation (BAC) Raised to “Buy” at BidaskClub” was first posted by American Banking News and is the sole property of of American Banking News. If you are viewing this piece on another website, it was illegally copied and reposted in violation of US and international copyright & trademark legislation. The correct version of this piece can be accessed at https://www.americanbankingnews.com/2017/07/07/bank-of-america-corporation-bac-raised-to-buy-at-bidaskclub.html.

In related news, Director Thomas D. Woods bought 25,000 shares of the company’s stock in a transaction on Thursday, April 27th. The shares were acquired at an average cost of $23.81 per share, with a total value of $595,250.00. Following the completion of the acquisition, the director now owns 40,830 shares of the company’s stock, valued at approximately $972,162.30. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.18% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the company. Jennison Associates increased its stake in Bank of America Corporation by 108.3% in the third quarter. Jennison Associates now owns 30,890,379 shares of the financial services provider’s stock valued at $481,272,000 after buying an additional 16,061,979 shares during the period. Terra Nova Asset Management boosted its stake in Bank of America Corporation by 50.1% in the third quarter. Terra Nova Asset Management now owns 139,780 shares of the financial services provider’s stock worth $2,178,000 after buying an additional 46,635 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft boosted its stake in Bank of America Corporation by 24,039.3% in the third quarter. Meag Munich Ergo Kapitalanlagegesellschaft now owns 1,931,146 shares of the financial services provider’s stock worth $29,763,000 after buying an additional 1,923,146 shares during the period. Gerstein Fisher boosted its stake in Bank of America Corporation by 9.4% in the third quarter. Gerstein Fisher now owns 63,722 shares of the financial services provider’s stock worth $993,000 after buying an additional 5,495 shares during the period. Finally, Eagle Asset Management purchased a new stake in Bank of America Corporation during the third quarter worth approximately $4,448,000. 65.84% of the stock is currently owned by institutional investors and hedge funds.

About Bank of America Corporation

Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers and others with a range of banking, investing, asset management and other financial and risk management products and services. The Company, through its banking and various non-bank subsidiaries, throughout the United States and in international markets, provides a range of banking and non-bank financial services and products through four business segments: Consumer Banking, which comprises Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S.

Analyst Recommendations for Bank of America Corporation (NYSE:BAC)

Receive News & Ratings for Bank of America Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of America Corporation and related companies with MarketBeat.com's FREE daily email newsletter.