BAC has been the topic of a number of other reports. Deutsche Bank maintained the shares of BAC in report on Tuesday, August 25 with "Buy" rating. BidaskClub downgraded Citigroup from a "buy" rating to a "hold" rating in a research note on Wednesday, July 12th. Welch Group LLC boosted its position in Bank of America Corporation by 0.4% in the 1st quarter.
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Analysts have given a mean recommendation of 2.10 on this stock (A rating of less than 2 means buy, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range). $22.86's average target is -10.18% below currents $25.45 stock price. Moreover, Scholtz And Co Ltd Liability Company has 3.41% invested in Bank of America Corp (NYSE:BAC). The stock's 50 day moving average is $24.65 and its 200 day moving average is $23.91.
Chief Executive Brian Moynihan's years-long effort to streamline the United States' second-largest bank and keep its costs in check are finally bearing fruit as the Federal Reserve raises borrowing costs. The firm has a market cap of $267.64 billion, a PE ratio of 15.16 and a beta of 1.25. The business had revenue of $22.80 billion for the quarter, compared to analyst estimates of $21.84 billion.
Analysts on average had expected earnings of 45 cents per share, according to Thomson Reuters I/B/E/S.
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Bank of America Corporation (BAC) stock directed 58.76% toward a higher level throughout a year ago and swapped 4.60% toward a strong spot during past one month.
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Bank of America Corporation announced that its board has initiated a stock buyback plan on Wednesday, June 28th that permits the company to repurchase $12.00 billion in outstanding shares. The financial services provider reported $0.46 earnings per share for the quarter, topping the Zacks' consensus estimate of $0.43 by $0.03. Gofen Glossberg Ltd Limited Liability Company Il stated it has 33,823 shares or 0.03% of all its holdings. This represents a $0.48 annualized dividend and a yield of 1.89%. The stock has "Neutral" rating by UBS on Wednesday, August 26. Dimensional Fund Advsr LP has invested 0.64% in Bank of America Corp (NYSE:BAC). The rate the bank paid on US interest-bearing deposits was 0.24%, compared with a rock-bottom 0.11% in the prior quarter. The shares were sold at an average price of $68.97, for a total value of $344,850.00. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Wagner Bowman Management Corporation owns 39,560 shares for 0.27% of their portfolio. Balentine LLC now owns 1,617 shares of the financial services provider's stock worth $108,000 after acquiring an additional 272 shares in the last quarter.
But the bank inched closer to meeting performance goals it set for itself, including a 1% return on average assets and a 12% return on average tangible common equity. It also increased its holding in General Mtrs Co (NYSE:GM) by 19,284 shares in the quarter, for a total of 969,134 shares, and has risen its stake in Allergan Plc. The stock increased 1.00% or $2.14 during the last trading session, reaching $216.81. Finally, First National Trust Co. raised its position in shares of Bank of America Corporation by 48.2% in the first quarter. Arbor Investment Advisors LLC now owns 14,328 shares of the financial services provider's stock valued at $348,000 after buying an additional 46 shares during the last quarter.