The brokerage now has $25.61 price objective on the financial services provider's stock.
BAC has been the subject of a number of research analyst reports. Wood maintained it with "Outperform" rating and $135 target in Thursday, October 1 report.
The PEG for Bank of America Corporation is gauging a 1.41, signposting the future growth of the company's earnings.
Later Friday morning, Wells Fargo is expected to report earnings before the opening bell. BidaskClub raised Bank of America Corporation from a "hold" rating to a "buy" rating in a report on Friday, July 7th. Robert W. Baird maintained the shares of BAC in report on Friday, August 25 with "Hold" rating.
Among 29 analysts covering Bank of America (NYSE:BAC), 19 have Buy rating, 0 Sell and 10 Hold. Bank of America Corporation presently has a consensus rating of "Buy" and a consensus price target of $24.88.
TRADEMARK VIOLATION WARNING: This report was originally posted by TrueBlueTribune and is the property of of TrueBlueTribune. If you are viewing this story on another domain, it was illegally stolen and republished in violation of United States and global copyright and trademark legislation. The stock rose 0.09% or $0.04 reaching $50.88 per share.
Shares of Bank of America Corporation (NYSE:BAC) opened at 25.45 on Friday.
Revenues edged up 0.9 percent to $21.8 billion. The firm has a 50-day moving average of $24.65 and a 200-day moving average of $23.91. The stock of Bank of America Corp (NYSE:BAC) has "Outperform" rating given on Friday, January 29 by Credit Agricole. Among active positions in the latest quarter, 869 holders increased their positions by a total of 301.31 million shares, 760 holders decreased the positions by a total of 329.95 million shares, and 217 holders held their positions. Analysts' estimates typically exclude special items. The operating margin is 13.80% percent and the net profit margin stands at 8.80% percent. This was up from $21.64 billion previous year. About 3.27 million shares traded or 90.12% up from the average. Its down 0.03, from 1.15 in 2017Q1. This represents a $0.48 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend was Wednesday, August 30th. Athena Advisors Limited has 0.48% invested in Bank of America Corp (NYSE:BAC) for 76,235 shares. Equities research analysts expect that Bank of America Corporation will post $1.79 EPS for the current fiscal year.
Bank of America Corporation has a ROA of 0.80%, measuring the amount of profit the company earns on the value of its shares. This repurchase authorization permits the financial services provider to buy up to 4.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its shares are undervalued. Finally, Royal Bank Of Canada reaffirmed a "buy" rating and set a $26.00 target price on shares of Bank of America Corporation in a research report on Thursday, July 20th.
Among new and sold out positions, 117 holders initiated new positions by a total of 32.39 million shares and 88 holders exited their positions by a total of 32.45 million shares. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.18% of the company's stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. M Holdings Securities Inc. boosted its stake in Bank of America Corporation by 72.9% during the 1st quarter. Oakworth Incorporated reported 209,582 shares stake. YHB Investment Advisors Inc. now owns 161,450 shares of the financial services provider's stock worth $3,917,000 after purchasing an additional 23,729 shares during the last quarter. Pekin Singer Strauss Asset Management Il owns 0.11% invested in Bank of America Corp (NYSE:BAC) for 27,640 shares. Welch Group LLC now owns 10,035 shares of the financial services provider's stock worth $237,000 after purchasing an additional 42 shares during the period. Gateway Advisory LLC increased its position in Bank of America Corporation by 0.4% in the second quarter. It also reduced Nomad Foods Ltd stake by 1.80M shares and now owns 15.63 million shares.