Published On: Fri, Sep 9th, 2016

Investment Analysts’ Recent Ratings Changes for Bank of America Corp. (BAC)

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

9/8/2016 – Bank of America Corp. was downgraded by analysts at Vetr from a “buy” rating to a “hold” rating. They now have a $16.38 price target on the stock.
9/6/2016 – Bank of America Corp. was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating. They now have a $16.58 price target on the stock.
8/31/2016 – Bank of America Corp. had its “buy” rating reaffirmed by analysts at S&P Equity Research. They now have a $18.00 price target on the stock.
8/29/2016 – Bank of America Corp. was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating. They now have a $16.56 price target on the stock.
8/26/2016 – Bank of America Corp. had its “conviction-buy” rating reaffirmed by analysts at Goldman Sachs Group Inc.. They now have a $17.00 price target on the stock.
8/25/2016 – Bank of America Corp. was upgraded by analysts at Sanford C. Bernstein from a “neutral” rating to an “outperform” rating. They now have a $19.00 price target on the stock.
8/25/2016 – Bank of America Corp. had its “buy” rating reaffirmed by analysts at Deutsche Bank AG. They now have a $175.00 price target on the stock.
8/25/2016 – Bank of America Corp. was upgraded by analysts at Macquarie from an “underperform” rating to a “neutral” rating.
8/25/2016 – Bank of America Corp. was upgraded by analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating.
8/16/2016 – Bank of America Corp. had its “buy” rating reaffirmed by analysts at Jefferies Group.
8/16/2016 – Bank of America Corp. had its “outperform” rating reaffirmed by analysts at Sanford C. Bernstein.
8/4/2016 – Bank of America Corp. had its “outperform” rating reaffirmed by analysts at Robert W. Baird.
8/1/2016 – Bank of America Corp. was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating. They now have a $14.90 price target on the stock.
7/28/2016 – Bank of America Corp. had its “buy” rating reaffirmed by analysts at Credit Suisse Group AG. They now have a $18.00 price target on the stock.
7/25/2016 – Bank of America Corp. was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating. They now have a $14.90 price target on the stock.
7/24/2016 – Bank of America Corp. had its “outperform” rating reaffirmed by analysts at FBR & Co. They now have a $20.00 price target on the stock.
7/20/2016 – Bank of America Corp. had its “hold” rating reaffirmed by analysts at Keefe, Bruyette & Woods. They now have a $15.00 price target on the stock.
7/19/2016 – Bank of America Corp. had its “buy” rating reaffirmed by analysts at Credit Suisse Group AG. They now have a $18.00 price target on the stock.
7/19/2016 – Bank of America Corp. had its “buy” rating reaffirmed by analysts at Jefferies Group. They now have a $16.50 price target on the stock, up previously from $16.00. They wrote, “FFO/sh. Beat by $0.01. FFO/sh. at $0.75 beat Cantor/consensus by $0.01.””
7/19/2016 – Bank of America Corp. had its price target raised by analysts at Citigroup Inc. from $16.00 to $17.00. They now have a “buy” rating on the stock.
7/18/2016 – Bank of America Corp. was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $14.88 price target on the stock.
7/13/2016 – Bank of America Corp. is now covered by analysts at Berenberg Bank. They set a “buy” rating and a $15.00 price target on the stock.

Shares of Bank of America Corp. (NYSE:BAC) traded up 0.7346% during mid-day trading on Friday, reaching $15.9765. 39,519,008 shares of the company’s stock were exchanged. The stock has a market cap of $168.02 billion, a PE ratio of 13.3919 and a beta of 1.67. Bank of America Corp. has a one year low of $10.99 and a one year high of $18.09. The company has a 50 day moving average price of $15.12 and a 200-day moving average price of $14.11.
Bank of America Corp. (NYSE:BAC) last announced its quarterly earnings results on Monday, July 18th. The financial services provider reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.03. The firm earned $20.60 million during the quarter, compared to the consensus estimate of $20.41 billion. The firm’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.45 earnings per share. On average, analysts predict that Bank of America Corp. will post $1.26 EPS for the current year.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/09/investment-analysts-recent-ratings-changes-for-bank-of-america-corp-bac.html

The company also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Friday, September 2nd will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 1.89%. This is an increase from Bank of America Corp.’s previous quarterly dividend of $0.05. The ex-dividend date is Wednesday, August 31st. Bank of America Corp.’s dividend payout ratio (DPR) is presently 24.59%.
In related news, Director Thomas D. Woods acquired 25,000 shares of the stock in a transaction dated Tuesday, August 2nd. The shares were purchased at an average price of $14.13 per share, for a total transaction of $353,250.00. Following the transaction, the director now owns 32,459 shares in the company, valued at approximately $458,645.67. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 0.18% of the stock is currently owned by company insiders.
Bank of America Corporation is a bank holding and financial holding company. The Company is a financial institution, serving individual consumers, small- and middle-market businesses, institutional investors, corporations and governments with various banking, investing, asset management and other financial and risk management products and services.

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

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>