Bank of America (NYSE:BAC) Rating Lowered to “Sell” at Wall Street Zen

Bank of America (NYSE:BAC) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Monday.

Several other research firms also recently issued reports on BAC. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank of America in a research note on Thursday, October 30th. Keefe, Bruyette & Woods increased their price objective on Bank of America from $58.00 to $64.00 and gave the company an “outperform” rating in a report on Wednesday, December 17th. Citigroup lifted their target price on Bank of America from $58.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Daiwa Capital Markets increased their price target on Bank of America from $54.00 to $58.00 and gave the company an “outperform” rating in a research note on Wednesday, October 8th. Finally, HSBC raised their price objective on Bank of America from $51.00 to $53.00 and gave the stock a “hold” rating in a research report on Thursday, October 2nd. Twenty-three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $59.86.

Bank of America Stock Performance

Shares of BAC stock opened at $57.24 on Monday. The firm has a market capitalization of $417.97 billion, a price-to-earnings ratio of 15.60 and a beta of 1.29. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.12. The business’s 50-day moving average price is $53.97 and its 200-day moving average price is $50.84. Bank of America has a 12 month low of $33.06 and a 12 month high of $57.55.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.13. Bank of America had a return on equity of 10.76% and a net margin of 15.70%.The company had revenue of $5.35 billion during the quarter, compared to the consensus estimate of $27.05 billion. During the same quarter in the prior year, the firm posted $0.81 earnings per share. The firm’s revenue was up 10.8% compared to the same quarter last year. Equities research analysts forecast that Bank of America will post 3.7 EPS for the current year.

Institutional Trading of Bank of America

Large investors have recently modified their holdings of the stock. Nova Wealth Management Inc. raised its holdings in shares of Bank of America by 75.2% during the second quarter. Nova Wealth Management Inc. now owns 529 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 227 shares during the period. Quaker Wealth Management LLC increased its position in Bank of America by 246.5% in the 2nd quarter. Quaker Wealth Management LLC now owns 523 shares of the financial services provider’s stock valued at $25,000 after buying an additional 880 shares in the last quarter. Wiser Advisor Group LLC acquired a new position in Bank of America during the 3rd quarter worth approximately $27,000. RMG Wealth Management LLC acquired a new position in Bank of America during the 2nd quarter worth approximately $28,000. Finally, Steph & Co. boosted its holdings in Bank of America by 224.3% in the third quarter. Steph & Co. now owns 548 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 379 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

More Bank of America News

Here are the key news stories impacting Bank of America this week:

• Positive Sentiment: Multiple banks raised price targets and kept overweight/positive ratings, lifting sentiment and giving investors upside targets. Links: Read More., Read More., Read More.
• Positive Sentiment: Product/coverage expansion: BofA is allowing advisers to recommend Bitcoin ETFs — a move that can generate new fee income and attract client flows if adoption ramps. Read More.
• Positive Sentiment: Fundamentals: BAC’s most recent quarter beat EPS expectations and showed revenue growth and solid ROE, supporting valuation multiple expansion vs. regional peers. (Earnings detail from recent filings and consensus estimates.)
• Neutral Sentiment: Options and flow: Recent coverage highlights elevated options activity and moderately bullish positioning in BAC options — this can amplify intraday moves but is not a fundamental change. Read More.
• Neutral Sentiment: Research output: BofA analysts remain active with sector calls (airlines, healthcare, energy names) and public commentary (e.g., on SoFi M&A prospects). These notes drive market attention but are indirect for BAC equity performance. Read More., Read More.

Bank of America Company Profile

Bank of America Corporation is a multinational financial services company headquartered in Charlotte, North Carolina. It provides a broad array of banking, investment, asset management and related financial and risk management products and services to individual consumers, small- and middle-market businesses, large corporations, governments and institutional investors. The firm operates through consumer banking, global wealth and investment management, global banking and markets businesses, offering capabilities across lending, deposits, payments, advisory and capital markets.

Its consumer-facing offerings include checking and savings accounts, mortgages, home equity lending, auto loans, credit cards and small business banking, supported by a nationwide branch network and digital channels.