Bank of America Corporation (BAC) Stock Rating Lowered by Vetr Inc.

Bank of America Corporation (NYSE:BAC) was downgraded by equities research analysts at Vetr from a “hold” rating to a “sell” rating in a note issued to investors on Monday. They currently have a $26.67 price target on the financial services provider’s stock. Vetr‘s price objective suggests a potential downside of 4.13% from the company’s previous close.

Several other research firms have also commented on BAC. BidaskClub upgraded shares of Bank of America Corporation from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. CIBC reiterated an “outperform” rating on shares of Bank of America Corporation in a research note on Tuesday, July 11th. Jefferies Group LLC reiterated a “buy” rating and issued a $28.00 price objective on shares of Bank of America Corporation in a research note on Friday, August 11th. Deutsche Bank AG reissued a “hold” rating and set a $25.00 target price (up from $23.00) on shares of Bank of America Corporation in a research report on Tuesday, September 26th. Finally, UBS AG reissued a “neutral” rating and set a $26.00 target price on shares of Bank of America Corporation in a research report on Friday, July 21st. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-three have assigned a buy rating and three have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $25.57.

Shares of Bank of America Corporation (NYSE BAC) opened at $27.82 on Monday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.91 and a quick ratio of 0.90. Bank of America Corporation has a fifty-two week low of $16.35 and a fifty-two week high of $27.98. The firm has a market cap of $290,179.56, a PE ratio of 15.90, a P/E/G ratio of 1.93 and a beta of 1.31.

Bank of America Corporation (NYSE:BAC) last posted its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.48 EPS 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 analyst estimates of $22.07 billion. Bank of America Corporation had a net margin of 20.66% and a return on equity of 8.33%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the business posted $0.41 EPS. analysts expect that Bank of America Corporation will post 1.8 earnings per share for the current fiscal year.

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In other Bank of America Corporation news, Director Frank P. Bramble sold 86,763 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $24.16, for a total value of $2,096,194.08. Following the sale, the director now owns 50,000 shares of the company’s stock, valued at approximately $1,208,000. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.18% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. M Holdings Securities Inc. boosted its stake in shares of 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 valued at $2,242,000 after purchasing an additional 40,069 shares in the last quarter. YHB Investment Advisors Inc. boosted its stake in shares of 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 valued at $3,917,000 after purchasing an additional 23,729 shares in the last quarter. Montag A & Associates Inc. boosted its stake in shares of 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 valued at $9,359,000 after purchasing an additional 123,986 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of 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 valued at $199,635,000 after purchasing an additional 1,483,772 shares in the last quarter. Finally, Bank of The West boosted its stake in shares of Bank of America Corporation by 130.9% during the 2nd quarter. Bank of The West now owns 86,217 shares of the financial services provider’s stock valued at $2,092,000 after purchasing an additional 48,873 shares in the last quarter. 61.58% of the stock is currently owned by hedge funds and other 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.

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