Bank of America Corporation (NYSE:BAC) Price Target Raised to $28.50

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Bank of America Corporation logoBank of America Corporation (NYSE:BAC) had its value goal lifted by J P Morgan Chase & Co from $27.50 to $28.50 in a badysis report launched on Wednesday, November 1st. The brokerage at present has an chubby score on the financial institution’s inventory.

Several different badysis badysts have additionally just lately commented on the inventory. Vetr minimize shares of Bank of America Corporation from a maintain score to a promote score and set a $23.52 goal value for the corporate. in a badysis report on Tuesday, July 4th. CIBC restated an outperform score on shares of Bank of America Corporation in a badysis report on Tuesday, July 11th. Robert W. Baird restated a maintain score and issued a $24.00 goal value on shares of Bank of America Corporation in a badysis report on Friday, August 25th. BidaskClub raised shares of Bank of America Corporation from a maintain score to a purchase score in a badysis be aware on Friday, July seventh. Finally, UBS AG set a $27.00 value goal on shares of Bank of America Corporation and gave the inventory a maintain score in a badysis be aware on Monday, October 16th. Two badysis badysts have rated the inventory with a promote score, 9 have issued a maintain score, twenty-four have issued a purchase score and three have badigned a robust purchase score to the corporate. The firm at present has a median score of Buy and a median goal value of C$25.82.

Shares of Bank of America Corporation (NYSE BAC) traded up C$zero.01 throughout buying and selling hours on Wednesday, hitting C$26.51. 61,110,000 shares of the corporate had been exchanged, in comparison with its common quantity of 65,188,076. The firm has a present ratio of zero.91, a fast ratio of zero.90 and a debt-to-equity ratio of zero.91. Bank of America Corporation has a twelve month low of C$18.63 and a twelve month excessive of C$27.98. The firm has a market cap of $276,515.47, a P/E ratio of 15.15, a PEG ratio of 1.84 and a beta of 1.31.

Bank of America Corporation (NYSE:BAC) final introduced its quarterly earnings information on Friday, October 13th. The financial institution reported C$zero.48 earnings per share for the quarter, beating badysts’ consensus estimates of C$zero.46 by C$zero.02. Bank of America Corporation had a web margin of 20.66% and a return on fairness of eight.33%. The enterprise had income of C$22.08 billion throughout the quarter, in comparison with the consensus estimate of C$22.07 billion. During the identical quarter within the prior 12 months, the agency earned $zero.41 EPS. The firm’s income for the quarter was up 2.1% in comparison with the identical quarter final 12 months. badysts anticipate that Bank of America Corporation will put up 1.eight earnings per share for the present fiscal 12 months.

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The firm additionally just lately declared a quarterly dividend, which shall be paid on Friday, December 29th. Investors of document on Friday, December 1st shall be issued a dividend of $zero.12 per share. This represents a $zero.48 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Thursday, November 30th. Bank of America Corporation’s dividend payout ratio is at present 27.43%.

A variety of institutional buyers and hedge funds have just lately purchased and offered shares of BAC. Northwest Investment Counselors LLC acquired a brand new stake in Bank of America Corporation within the 2nd quarter valued at about $100,000. Armbruster Capital Management Inc. elevated its place in Bank of America Corporation by 10.eight% within the 1st quarter. Armbruster Capital Management Inc. now owns four,323 shares of the financial institution’s inventory valued at $102,000 after buying a further 423 shares within the final quarter. Chicago Partners Investment Group LLC elevated its place in Bank of America Corporation by 11.zero% within the 2nd quarter. Chicago Partners Investment Group LLC now owns four,531 shares of the financial institution’s inventory valued at $103,000 after buying a further 450 shares within the final quarter. Burt Wealth Advisors elevated its place in Bank of America Corporation by four,013.1% within the third quarter. Burt Wealth Advisors now owns four,401 shares of the financial institution’s inventory valued at $112,000 after buying a further four,294 shares within the final quarter. Finally, MPS Loria Financial Planners LLC acquired a brand new stake in Bank of America Corporation within the 2nd quarter valued at about $115,000. Hedge funds and different institutional buyers personal 62.34% of the corporate’s inventory.

About Bank of America Corporation

Bank of America Corporation is a financial institution holding firm and a monetary holding firm. The Company is a monetary establishment, serving particular person shoppers and others with a spread of banking, investing, badet administration and different monetary and threat administration services. The Company, by means of its banking and numerous non-bank subsidiaries, all through the United States and in worldwide markets, supplies a spread of banking and non-bank monetary companies and merchandise by means of 4 enterprise segments: Consumer Banking, which contains Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two main companies: Merrill Lynch Global Wealth Management and U.S.

Analyst Recommendations for Bank of America Corporation (NYSE:BAC)




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