Bank of America (BAC) Stock Rating Lowered by Vetr

Bank of America (NYSE:BAC) was downgraded by equities researchers at Vetr from a “strong-buy” rating to a “buy” rating in a note issued to investors on Tuesday. They currently have a $33.17 price target on the financial services provider’s stock. Vetr‘s price objective indicates a potential upside of 12.33% from the company’s previous close.

A number of other equities research analysts have also commented on the stock. Credit Suisse Group upgraded shares of Bank of America to an “outperform” rating and upped their price target for the company from $32.00 to $35.00 in a report on Thursday, January 4th. Zacks Investment Research upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a report on Tuesday, January 2nd. Barclays upped their price target on shares of Bank of America from $28.00 to $35.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. Instinet lowered their price target on shares of Bank of America from $37.00 to $30.00 in a report on Wednesday, January 3rd. Finally, BMO Capital Markets reiterated a “hold” rating and set a $31.00 price target on shares of Bank of America in a report on Monday, January 8th. Ten research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $31.32.

How to Become a New Pot Stock Millionaire

NYSE:BAC opened at $29.53 on Tuesday. Bank of America has a 52 week low of $22.07 and a 52 week high of $33.05. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.92 and a quick ratio of 0.90. The firm has a market cap of $307,720.47, a P/E ratio of 16.14, a PEG ratio of 1.48 and a beta of 1.37.

Bank of America (NYSE:BAC) last posted its quarterly earnings results on Monday, April 16th. The financial services provider reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.03. Bank of America had a net margin of 19.65% and a return on equity of 9.40%. The company had revenue of $23.10 billion during the quarter, compared to analyst estimates of $23.04 billion. During the same period in the prior year, the business posted $0.41 EPS. The firm’s revenue was up 4.1% compared to the same quarter last year. equities research analysts expect that Bank of America will post 2.53 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the stock. 1ST Source Bank increased its stake in shares of Bank of America by 4.8% in the 3rd quarter. 1ST Source Bank now owns 81,124 shares of the financial services provider’s stock worth $2,056,000 after acquiring an additional 3,690 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of Bank of America by 1.9% in the 3rd quarter. Teacher Retirement System of Texas now owns 6,806,200 shares of the financial services provider’s stock worth $172,469,000 after acquiring an additional 128,510 shares in the last quarter. Personal Capital Advisors Corp bought a new position in shares of Bank of America in the 3rd quarter worth about $311,000. Bronfman E.L. Rothschild L.P. increased its stake in shares of Bank of America by 7.5% in the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 64,694 shares of the financial services provider’s stock worth $1,639,000 after acquiring an additional 4,537 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Bank of America by 75.3% in the 3rd quarter. Victory Capital Management Inc. now owns 1,401,094 shares of the financial services provider’s stock worth $35,504,000 after acquiring an additional 601,675 shares in the last quarter. Institutional investors own 69.85% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This report was first reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this report on another website, it was illegally copied and reposted in violation of US & international trademark and copyright laws. The original version of this report can be accessed at https://www.dispatchtribunal.com/2018/04/19/bank-of-america-bac-stock-rating-lowered-by-vetr.html.

About Bank of America

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 through four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Bank of America (NYSE:BAC)

Receive News & Ratings for Bank of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of America and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply