Vetr lowered shares of Bank of America Corporation (NYSE:BAC) from a hold rating to a sell rating in a research note released on Monday. Vetr currently has $26.67 price objective on the financial services provider’s stock.

Several other equities analysts have also recently weighed in on the company. J P Morgan Chase & Co lifted their price objective on Bank of America Corporation from $27.50 to $28.50 and gave the company an overweight rating in a report on Wednesday, November 1st. BidaskClub raised Bank of America Corporation from a buy rating to a strong-buy rating in a report on Monday, October 23rd. UBS AG set a $27.00 price objective on Bank of America Corporation and gave the company a hold rating in a report on Monday, October 16th. Nomura lifted their price objective on Bank of America Corporation from $28.00 to $30.00 and gave the company a buy rating in a report on Monday, October 16th. Finally, BMO Capital Markets reaffirmed a market perform rating and issued a $29.00 price objective (up from $27.00) on shares of Bank of America Corporation in a report on Monday, October 16th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-three have given a buy rating and four have assigned a strong buy rating to the stock. The company presently has an average rating of Buy and an average target price of $25.82.

Bank of America Corporation (BAC) traded down $0.07 during trading hours on Monday, reaching $27.75. The company had a trading volume of 37,009,301 shares, compared to its average volume of 61,290,000. The firm has a market cap of $282,460.00, a PE ratio of 15.90, a P/E/G ratio of 1.93 and a beta of 1.31. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.90 and a current ratio of 0.91. Bank of America Corporation has a 1-year low of $16.71 and a 1-year high of $27.98.

Bank of America Corporation (NYSE:BAC) last announced its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.02. The firm had revenue of $22.08 billion during the quarter, compared to analysts’ expectations of $22.07 billion. Bank of America Corporation had a return on equity of 8.33% and a net margin of 20.66%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.41 EPS. equities research analysts predict that Bank of America Corporation will post 1.8 earnings per share for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Thursday, November 30th. Bank of America Corporation’s dividend payout ratio is 27.91%.

In other news, Director Frank P. Bramble sold 86,763 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $24.16, for a total value of $2,096,194.08. Following the transaction, the director now directly owns 50,000 shares of the company’s stock, valued at approximately $1,208,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in BAC. M Holdings Securities Inc. raised its stake in Bank of America Corporation by 72.9% during the 1st quarter. M Holdings Securities Inc. now owns 95,018 shares of the financial services provider’s stock worth $2,242,000 after buying an additional 40,069 shares during the period. Lbmc Investment Advisors LLC raised its stake in Bank of America Corporation by 0.3% during the 2nd quarter. Lbmc Investment Advisors LLC now owns 16,851 shares of the financial services provider’s stock worth $409,000 after buying an additional 51 shares during the period. YHB Investment Advisors Inc. raised its stake in Bank of America Corporation by 17.2% during the 2nd quarter. YHB Investment Advisors Inc. now owns 161,450 shares of the financial services provider’s stock worth $3,917,000 after buying an additional 23,729 shares during the period. Montag A & Associates Inc. raised its stake in Bank of America Corporation by 47.4% during the 2nd quarter. Montag A & Associates Inc. now owns 385,764 shares of the financial services provider’s stock worth $9,359,000 after buying an additional 123,986 shares during the period. Finally, AQR Capital Management LLC raised its stake in Bank of America Corporation by 21.3% during the 1st quarter. AQR Capital Management LLC now owns 8,462,687 shares of the financial services provider’s stock worth $199,635,000 after buying an additional 1,483,772 shares during the period. 62.34% of the stock is currently owned by institutional investors.

Bank of America Corporation Company Profile

Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers and others with a range of banking, investing, asset management and other financial and risk management products and services. The Company, through its banking and various non-bank subsidiaries, throughout the United States and in international markets, provides a range of banking and non-bank financial services and products through four business segments: Consumer Banking, which comprises Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S.

Analyst Recommendations for Bank of America Corporation (NYSE:BAC)

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