Bank of America Corporation (NYSE:BAC) Stock Rating Upgraded by BidaskClub

BidaskClub upgraded shares of Bank of America Corporation (NYSE:BAC) from a hold rating to a buy rating in a research report sent to investors on Friday, July 7th.

Several other equities research analysts have also issued reports on the stock. Vetr lowered shares of Bank of America Corporation from a hold rating to a sell rating and set a $23.52 target price for the company. in a report on Tuesday, July 4th. Keefe, Bruyette & Woods restated an outperform rating on shares of Bank of America Corporation in a report on Tuesday, July 4th. Deutsche Bank AG reiterated a hold rating on shares of Bank of America Corporation in a report on Monday, July 3rd. Credit Suisse Group reiterated a buy rating on shares of Bank of America Corporation in a report on Sunday, June 4th. Finally, Jefferies Group LLC reiterated a buy rating and set a $28.00 price objective on shares of Bank of America Corporation in a report on Friday, May 5th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of Buy and an average price target of $23.74.

Bank of America Corporation (BAC) traded up 2.46% during trading on Friday, hitting $24.97. The stock had a trading volume of 105,206,610 shares. The firm has a market capitalization of $262.60 billion, a PE ratio of 14.87 and a beta of 1.27. The firm has a 50 day moving average price of $24.01 and a 200-day moving average price of $23.69. Bank of America Corporation has a 1-year low of $14.10 and a 1-year high of $25.80.

Bank of America Corporation (NYSE:BAC) last released its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.03. Bank of America Corporation had a net margin of 20.28% and a return on equity of 8.11%. The business had revenue of $22.80 billion during the quarter, compared to analyst estimates of $21.84 billion. During the same quarter last year, the business earned $0.41 earnings per share. Bank of America Corporation’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, equities research analysts expect that Bank of America Corporation will post $1.82 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “Bank of America Corporation (NYSE:BAC) Stock Rating Upgraded by BidaskClub” was originally reported by BBNS and is owned by of BBNS. If you are viewing this piece on another site, it was copied illegally and republished in violation of United States and international trademark and copyright laws. The correct version of this piece can be viewed at https://baseballnewssource.com/markets/bank-of-america-corporation-nysebac-upgraded-at-bidaskclub-updated-updated-updated/1179797.html.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Wednesday, August 30th. This is a positive change from Bank of America Corporation’s previous quarterly dividend of $0.08. Bank of America Corporation’s payout ratio is presently 17.86%.

Bank of America Corporation announced that its Board of Directors has approved a stock repurchase program on Wednesday, June 28th that authorizes the company to repurchase $12.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 4.8% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

A number of large investors have recently modified their holdings of BAC. Lansdowne Partners UK LLP raised its stake in shares of Bank of America Corporation by 38,029.0% in the fourth quarter. Lansdowne Partners UK LLP now owns 30,503,227 shares of the financial services provider’s stock valued at $674,141,000 after buying an additional 30,423,227 shares during the last quarter. EagleClaw Capital Managment LLC raised its stake in Bank of America Corporation by 2.3% in the fourth quarter. EagleClaw Capital Managment LLC now owns 63,400 shares of the financial services provider’s stock worth $1,398,000 after buying an additional 1,400 shares during the last quarter. Brown Advisory Inc. raised its stake in Bank of America Corporation by 32.9% in the fourth quarter. Brown Advisory Inc. now owns 4,390,016 shares of the financial services provider’s stock worth $97,021,000 after buying an additional 1,087,616 shares during the last quarter. Good Life Advisors LLC acquired a new stake in Bank of America Corporation during the fourth quarter worth about $212,000. Finally, Asset Management One Co. Ltd. raised its stake in Bank of America Corporation by 1,247.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 18,317,220 shares of the financial services provider’s stock worth $404,669,000 after buying an additional 16,957,548 shares during the last quarter. 66.27% of the stock is owned by institutional investors.

Bank of America Corporation Company Profile

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 our FREE daily email newsletter.

 


Latest News

Albert Pujols New Home Run Leader for Foreign-Born Players
Albert Pujols New Home Run Leader for Foreign-Born Players
Los Angeles Dodgers Alex Wood Has Shoulder Inflammation
Los Angeles Dodgers Alex Wood Has Shoulder Inflammation
Blues Jays Ready to Take Flight
Blues Jays Ready to Take Flight
Umpires Ending Protest Over Incident With Ian Kinsler
Umpires Ending Protest Over Incident With Ian Kinsler
Kris Bryant Back in Spotlight, Cubs Pushing for Playoff Berth
Kris Bryant Back in Spotlight, Cubs Pushing for Playoff Berth
Despite Changes to Reduce The Length of Games, MLB Games are Actually Getting Longer
Despite Changes to Reduce The Length of Games, MLB Games are Actually Getting Longer


Leave a Reply

 
© 2006-2017 BBNS.