Bank of America (NYSE:BAC) PT Raised to $37.00 at BMO Capital Markets

Bank of America (NYSE:BAC) had its target price boosted by analysts at BMO Capital Markets from $36.00 to $37.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. BMO Capital Markets’ price target would suggest a potential upside of 0.08% from the company’s previous close.

BAC has been the topic of a number of other research reports. UBS Group reissued a “neutral” rating and issued a $40.00 target price (up previously from $39.00) on shares of Bank of America in a research note on Thursday, April 4th. Morgan Stanley upgraded Bank of America from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $32.00 to $41.00 in a report on Tuesday, January 30th. Oppenheimer decreased their price objective on Bank of America from $46.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday. Wells Fargo & Company lifted their price objective on Bank of America from $40.00 to $44.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Finally, HSBC reiterated a “hold” rating and issued a $39.00 price objective (up previously from $38.00) on shares of Bank of America in a report on Thursday, March 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $38.53.

Bank of America Stock Up 3.4 %

BAC opened at $36.97 on Thursday. The stock has a market cap of $291.72 billion, a PE ratio of 12.79, a P/E/G ratio of 1.59 and a beta of 1.39. The company has a quick ratio of 0.80, a current ratio of 0.79 and a debt-to-equity ratio of 1.12. Bank of America has a 52 week low of $24.96 and a 52 week high of $38.35. The business’s fifty day simple moving average is $35.68 and its 200 day simple moving average is $32.31.

Bank of America (NYSE:BAC) last released its earnings results on Tuesday, April 16th. The financial services provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. The business had revenue of $25.82 billion for the quarter, compared to analysts’ expectations of $25.49 billion. Bank of America had a return on equity of 10.88% and a net margin of 13.94%. The firm’s revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.94 earnings per share. As a group, research analysts expect that Bank of America will post 3.16 earnings per share for the current fiscal year.

Institutional Trading of Bank of America

Large investors have recently bought and sold shares of the company. Fortis Group Advisors LLC bought a new stake in Bank of America during the 3rd quarter valued at approximately $25,000. Quarry LP bought a new stake in Bank of America during the 4th quarter valued at approximately $25,000. Glass Jacobson Investment Advisors llc boosted its position in Bank of America by 98.1% during the 3rd quarter. Glass Jacobson Investment Advisors llc now owns 1,018 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 504 shares in the last quarter. Livelsberger Financial Advisory bought a new stake in Bank of America during the 4th quarter valued at approximately $28,000. Finally, Castleview Partners LLC bought a new stake in shares of Bank of America in the 1st quarter worth approximately $28,000. 70.71% of the stock is owned by institutional investors.

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.