Several analysts have recently updated their ratings and price targets for Bank of America Corporation (NYSE: BAC):

  • 7/14/2017 – Bank of America Corporation was upgraded by analysts at Vetr from a “sell” rating to a “hold” rating. They now have a $23.99 price target on the stock.
  • 7/13/2017 – Bank of America Corporation had its “overweight” rating reaffirmed by analysts at Keefe, Bruyette & Woods.
  • 7/11/2017 – Bank of America Corporation had its “outperform” rating reaffirmed by analysts at Oppenheimer Holdings, Inc..
  • 7/11/2017 – Bank of America Corporation had its “outperform” rating reaffirmed by analysts at CIBC.
  • 7/10/2017 – Bank of America Corporation had its “buy” rating reaffirmed by analysts at Buckingham Research. They now have a $30.00 price target on the stock, up previously from $27.00.
  • 7/7/2017 – Bank of America Corporation was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 7/7/2017 – Bank of America Corporation had its “buy” rating reaffirmed by analysts at Jefferies Group LLC.
  • 7/4/2017 – Bank of America Corporation had its “outperform” rating reaffirmed by analysts at Keefe, Bruyette & Woods.
  • 7/4/2017 – Bank of America Corporation was downgraded by analysts at Vetr from a “hold” rating to a “sell” rating. They now have a $23.52 price target on the stock.
  • 7/3/2017 – Bank of America Corporation had its “hold” rating reaffirmed by analysts at Deutsche Bank AG.
  • 6/28/2017 – Bank of America Corporation was downgraded by analysts at Vetr from a “buy” rating to a “hold” rating. They now have a $24.19 price target on the stock.
  • 6/15/2017 – Bank of America Corporation was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating. They now have a $24.52 price target on the stock.
  • 6/12/2017 – Bank of America Corporation was downgraded by analysts at Vetr from a “buy” rating to a “hold” rating. They now have a $24.20 price target on the stock.
  • 6/7/2017 – Bank of America Corporation had its “buy” rating reaffirmed by analysts at Keefe, Bruyette & Woods. They now have a $27.00 price target on the stock.
  • 6/4/2017 – Bank of America Corporation had its “buy” rating reaffirmed by analysts at Credit Suisse Group. They wrote, “We assume our revenue forecast is more optimistic than management’s base caseā€”if our top line is actually more in sync with management, all else being equal, the net benefit of the differential on the expense line would be ~$0.10 per share, after tax.””

Bank of America Corporation (BAC) traded down 1.58% on Tuesday, reaching $23.64. The company’s stock had a trading volume of 58,716,113 shares. The firm has a market cap of $248.61 billion, a P/E ratio of 14.55 and a beta of 1.27. The firm’s 50 day moving average is $23.26 and its 200-day moving average is $23.42. Bank of America Corporation has a 12 month low of $13.52 and a 12 month high of $25.80.

Bank of America Corporation (NYSE:BAC) last issued its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. The company had revenue of $22.80 billion for the quarter, compared to analyst estimates of $21.84 billion. Bank of America Corporation had a net margin of 19.86% and a return on equity of 7.72%. Bank of America Corporation’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.41 earnings per share. On average, equities research analysts anticipate that Bank of America Corporation will post $1.77 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Friday, June 2nd were issued a $0.075 dividend. The ex-dividend date was Wednesday, May 31st. This represents a $0.30 annualized dividend and a yield of 1.25%. Bank of America Corporation’s payout ratio is 18.99%.

In other news, Director Thomas D. Woods bought 25,000 shares of the company’s stock in a transaction that occurred on Thursday, April 27th. The shares were acquired at an average price of $23.81 per share, for a total transaction of $595,250.00. Following the completion of the acquisition, the director now directly owns 40,830 shares in the company, valued at $972,162.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is owned by insiders.

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.

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