Bank of America Co. (NYSE:BAC)'s share price was down 0.2% during mid-day trading on Thursday . The stock traded as low as $36.81 and last traded at $36.86. Approximately 6,642,834 shares were traded during trading, a decline of 84% from the average daily volume of 40,604,660 shares. The stock had previously closed at $36.95.
Wall Street Analysts Forecast Growth
Several research firms recently commented on BAC. Evercore ISI lifted their target price on shares of Bank of America from $37.00 to $41.00 and gave the stock an "outperform" rating in a research report on Thursday, April 4th. HSBC reiterated a "hold" rating and set a $39.00 target price (up from $38.00) on shares of Bank of America in a research report on Thursday, March 28th. UBS Group reiterated a "neutral" rating and set a $40.00 target price (up from $39.00) on shares of Bank of America in a research report on Thursday, April 4th. Citigroup lifted their target price on shares of Bank of America from $37.00 to $39.00 and gave the stock a "neutral" rating in a research report on Wednesday, March 20th. Finally, Odeon Capital Group downgraded shares of Bank of America from a "buy" rating to a "hold" rating and set a $33.90 target price on the stock. in a research report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $38.70.
Get Our Latest Stock Report on BAC
Bank of America Stock Down 0.2 %
The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.12. The stock's 50-day moving average is $36.39 and its 200-day moving average is $33.01. The company has a market cap of $291.01 billion, a price-to-earnings ratio of 12.76, a P/E/G ratio of 1.66 and a beta of 1.37.
Bank of America (NYSE:BAC - Get Free Report) last released its earnings results on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.77 by $0.06. Bank of America had a net margin of 13.94% and a return on equity of 10.88%. The company had revenue of $25.82 billion for the quarter, compared to the consensus estimate of $25.49 billion. During the same quarter in the previous year, the company earned $0.94 EPS. Bank of America's quarterly revenue was down 1.7% compared to the same quarter last year. On average, analysts anticipate that Bank of America Co. will post 3.19 earnings per share for the current fiscal year.
Bank of America Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.24 per share. The ex-dividend date is Friday, June 7th. This represents a $0.96 dividend on an annualized basis and a yield of 2.60%. Bank of America's dividend payout ratio (DPR) is presently 33.22%.
Institutional Trading of Bank of America
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Livelsberger Financial Advisory bought a new stake in shares of Bank of America in the 4th quarter worth $28,000. Northwest Investment Counselors LLC bought a new stake in shares of Bank of America in the 1st quarter worth $33,000. Fortis Group Advisors LLC bought a new stake in shares of Bank of America in the 3rd quarter worth $25,000. Criterion Capital Advisors LLC bought a new stake in shares of Bank of America in the 4th quarter worth $32,000. Finally, Glass Jacobson Investment Advisors llc grew its stake in shares of Bank of America by 98.1% in the 3rd quarter. Glass Jacobson Investment Advisors llc now owns 1,018 shares of the financial services provider's stock worth $28,000 after acquiring an additional 504 shares in the last quarter. Institutional investors own 70.71% of the company's stock.
About Bank of America
(
Get Free Report)
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.
See Also
Before you consider Bank of America, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Bank of America wasn't on the list.
While Bank of America currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Click the link below to see which companies made the list.
Get This Free Report
