Bank of America (NYSE:BAC) PT Raised to $41.00

Bank of America (NYSE:BAC) had its price objective boosted by Jefferies Financial Group from $39.00 to $41.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the financial services provider’s stock. Jefferies Financial Group’s price objective suggests a potential upside of 0.24% from the stock’s previous close.

Several other research analysts have also recently issued reports on the company. Seaport Res Ptn upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Wells Fargo & Company raised their price objective on Bank of America from $40.00 to $44.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Wolfe Research upgraded Bank of America from a “peer perform” rating to an “outperform” rating and set a $42.00 price objective for the company in a research note on Friday, April 19th. UBS Group restated a “neutral” rating and issued a $40.00 price objective (up from $39.00) on shares of Bank of America in a research note on Thursday, April 4th. Finally, Erste Group Bank upgraded Bank of America from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Bank of America presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.02.

Bank of America Trading Down 0.1 %

Bank of America stock opened at $40.90 on Wednesday. The stock has a 50-day moving average of $39.06 and a two-hundred day moving average of $36.25. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.79 and a current ratio of 0.79. Bank of America has a one year low of $24.96 and a one year high of $41.20. The stock has a market cap of $319.85 billion, a PE ratio of 14.15, a price-to-earnings-growth ratio of 1.56 and a beta of 1.35.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.06. Bank of America had a return on equity of 10.88% and a net margin of 13.94%. The firm had revenue of $25.82 billion during the quarter, compared to analysts’ expectations of $25.49 billion. During the same period last year, the business posted $0.94 earnings per share. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. On average, research analysts anticipate that Bank of America will post 3.22 EPS for the current fiscal year.

Institutional Trading of Bank of America

Several institutional investors have recently bought and sold shares of the business. Joel Isaacson & Co. LLC grew its holdings in Bank of America by 0.3% in the first quarter. Joel Isaacson & Co. LLC now owns 108,529 shares of the financial services provider’s stock valued at $4,115,000 after purchasing an additional 294 shares during the period. Round Hill Asset Management boosted its stake in shares of Bank of America by 2.2% in the first quarter. Round Hill Asset Management now owns 14,070 shares of the financial services provider’s stock worth $534,000 after acquiring an additional 297 shares during the last quarter. CKW Financial Group boosted its stake in shares of Bank of America by 1.5% in the first quarter. CKW Financial Group now owns 20,069 shares of the financial services provider’s stock worth $753,000 after acquiring an additional 300 shares during the last quarter. Rossmore Private Capital boosted its stake in shares of Bank of America by 1.2% in the fourth quarter. Rossmore Private Capital now owns 26,537 shares of the financial services provider’s stock worth $894,000 after acquiring an additional 303 shares during the last quarter. Finally, Chemistry Wealth Management LLC boosted its stake in shares of Bank of America by 0.3% in the first quarter. Chemistry Wealth Management LLC now owns 109,541 shares of the financial services provider’s stock worth $4,154,000 after acquiring an additional 310 shares during the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

About Bank of America

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.