Bank of America (NYSE:BAC) Downgraded by Baird R W to "Hold"

Bank of America (NYSE:BAC) was downgraded by analysts at Baird R W from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Friday,Zacks.com reports.

A number of other research analysts have also recently weighed in on BAC. Royal Bank Of Canada cut their price objective on shares of Bank of America from $50.00 to $45.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 16th. Keefe, Bruyette & Woods cut their price target on shares of Bank of America from $55.00 to $52.00 and set an "outperform" rating on the stock in a report on Wednesday, April 16th. Robert W. Baird reissued a "neutral" rating and issued a $52.00 price objective on shares of Bank of America in a research report on Friday. UBS Group boosted their target price on Bank of America from $46.00 to $50.00 and gave the company a "buy" rating in a research report on Wednesday, April 16th. Finally, Cfra Research upped their target price on Bank of America to $47.00 and gave the company a "buy" rating in a research note on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $47.65.

Bank of America Trading Down 0.7%

BAC opened at $47.11 on Friday. The stock has a 50-day moving average of $43.31 and a 200 day moving average of $43.35. The company has a current ratio of 0.79, a quick ratio of 0.78 and a debt-to-equity ratio of 1.11. Bank of America has a 12 month low of $33.07 and a 12 month high of $48.08. The firm has a market cap of $354.85 billion, a P/E ratio of 14.02, a P/E/G ratio of 1.28 and a beta of 1.30.

Bank of America (NYSE:BAC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.10. The business had revenue of $27.37 billion during the quarter, compared to analyst estimates of $26.83 billion. Bank of America had a return on equity of 10.25% and a net margin of 14.56%. As a group, research analysts forecast that Bank of America will post 3.7 EPS for the current year.

Institutional Trading of Bank of America

Hedge funds have recently bought and sold shares of the stock. Brighton Jones LLC lifted its stake in shares of Bank of America by 30.0% during the fourth quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider's stock worth $4,785,000 after buying an additional 25,143 shares during the period. Bank Pictet & Cie Europe AG grew its stake in Bank of America by 35.7% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 860,005 shares of the financial services provider's stock valued at $37,797,000 after acquiring an additional 226,246 shares during the period. Whipplewood Advisors LLC purchased a new stake in shares of Bank of America during the fourth quarter worth about $57,000. Proficio Capital Partners LLC raised its holdings in shares of Bank of America by 7,164.3% during the fourth quarter. Proficio Capital Partners LLC now owns 890,096 shares of the financial services provider's stock valued at $39,120,000 after acquiring an additional 877,843 shares during the last quarter. Finally, Flputnam Investment Management Co. lifted its stake in shares of Bank of America by 2.5% in the fourth quarter. Flputnam Investment Management Co. now owns 426,505 shares of the financial services provider's stock worth $18,745,000 after buying an additional 10,366 shares in the last quarter. Hedge funds and other institutional investors own 70.71% of the company's stock.

Bank of America Company Profile

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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