Bank of America (NYSE:BAC) had its target price increased by equities researchers at UBS Group from $46.00 to $50.00 in a report issued on Wednesday, Marketbeat Ratings reports. The brokerage presently has a "buy" rating on the financial services provider's stock. UBS Group's price target indicates a potential upside of 33.55% from the company's current price.
A number of other analysts also recently commented on BAC. Citigroup dropped their price target on shares of Bank of America from $54.00 to $50.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. Oppenheimer lifted their price target on Bank of America from $54.00 to $55.00 and gave the company an "outperform" rating in a research report on Friday, January 17th. Hsbc Global Res raised Bank of America from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 7th. Baird R W upgraded shares of Bank of America from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 7th. Finally, Morgan Stanley lifted their price objective on shares of Bank of America from $54.00 to $56.00 and gave the stock an "equal weight" rating in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Bank of America has a consensus rating of "Moderate Buy" and an average target price of $47.20.
Get Our Latest Stock Analysis on Bank of America
Bank of America Stock Performance
Shares of BAC stock traded up $0.11 during trading hours on Wednesday, reaching $37.44. The stock had a trading volume of 47,052,978 shares, compared to its average volume of 39,127,145. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a 50-day simple moving average of $41.27 and a 200-day simple moving average of $43.59. The firm has a market capitalization of $284.65 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 1.21 and a beta of 1.24. Bank of America has a twelve month low of $33.07 and a twelve month high of $48.08.
Bank of America (NYSE:BAC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.10. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The business had revenue of $27.37 billion during the quarter, compared to the consensus estimate of $26.83 billion. As a group, equities analysts forecast that Bank of America will post 3.7 earnings per share for the current year.
Institutional Trading of Bank of America
Several large investors have recently added to or reduced their stakes in BAC. Collier Financial bought a new position in shares of Bank of America in the 4th quarter valued at approximately $25,000. Life Planning Partners Inc grew its position in Bank of America by 3,883.2% in the 4th quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider's stock worth $25,000 after purchasing an additional 545,936 shares during the last quarter. Graney & King LLC bought a new position in Bank of America during the fourth quarter valued at about $25,000. Fairway Wealth LLC bought a new position in Bank of America in the fourth quarter worth $29,000. Finally, Vega Investment Solutions bought a new position in shares of Bank of America during the 4th quarter worth about $30,000. 70.71% of the stock is owned by institutional investors.
About Bank of America
(
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Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. It operates in four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.
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