Goldman Sachs Group Inc. lowered shares of Bank of America Corp. (NYSE:BAC) from a buy rating to a neutral rating in a report released on Friday, AnalystRatings.Net reports.
Shares of Bank of America Corp. (NYSE:BAC) opened at 13.80 on Friday. Bank of America Corp. has a one year low of $8.88 and a one year high of $15.03. The stock’s 50-day moving average is $14.34 and its 200-day moving average is $13.4. The company has a market cap of $148.3 billion and a P/E ratio of 30.20.
Bank of America Corp. (NYSE:BAC) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $0.32 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.25 by $0.07. The company had revenue of $22.95 billion for the quarter, compared to the consensus estimate of $22.61 billion. During the same quarter last year, the company posted $0.19 earnings per share. Analysts expect that Bank of America Corp. will post $0.90 EPS for the current fiscal year.
A number of other firms have also recently commented on BAC. Analysts at Guggenheim downgraded shares of Bank of America Corp. (NYSE:BAC) from a buy rating to a neutral rating in a research note to investors on Friday. They now have a $17.00 price target on the stock. Separately, analysts at Societe Generale initiated coverage on shares of Bank of America Corp. (NYSE:BAC) in a research note to investors on Thursday, September 19th. They set a buy rating and a $17.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Bank of America Corp. (NYSE:BAC) from $15.50 to $16.00 in a research note to investors on Wednesday, September 18th. They now have an overweight rating on the stock. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $14.39.
Bank of America Corporation (NYSE:BAC) is a bank holding company, and a financial holding company.
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