Stock analysts at UBS AG hoisted their target price on shares of Bank of America Corp. (NYSE:BAC) from $15.50 to $16.00 in a report issued on Thursday, StockRatingsNetwork.com reports. The firm currently has a “neutral” rating on the stock. UBS AG’s target price would indicate a potential upside of 9.89% from the stock’s previous close.
Bank of America Corp. (NYSE:BAC) traded up 0.42% during mid-day trading on Thursday, hitting $14.621. The stock had a trading volume of 43,360,952 shares. Bank of America Corp. has a one year low of $8.92 and a one year high of $15.03. The stock’s 50-day moving average is $14.2 and its 200-day moving average is $13.56. The company has a market cap of $157.1 billion and a price-to-earnings ratio of 31.86.
Bank of America Corp. (NYSE:BAC) last released its earnings data on Wednesday, October 16th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.01. The company had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.11 billion. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, analysts predict that Bank of America Corp. will post $0.89 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on BAC. Analysts at RBC Capital reiterated an “outperform” rating on shares of Bank of America Corp. in a research note to investors on Thursday. They now have a $16.00 price target on the stock. Separately, analysts at Raymond James downgraded shares of Bank of America Corp. from a “strong-buy” rating to an “outperform” rating in a research note to investors on Thursday. They now have a $16.00 price target on the stock, down previously from $16.50. Finally, analysts at Evercore Partners raised their price target on shares of Bank of America Corp. from $16.00 to $17.00 in a research note to investors on Thursday. They now have an “overweight” rating on the stock. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the stock. Bank of America Corp. currently has an average rating of “Hold” and a consensus price target of $14.68.
Bank of America Corporation (NYSE:BAC) is a bank holding company, and a financial holding company.
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