Coverage of Bank of America was included in a research report distributed to investors on Thursday.
The report was written by analysts working for StockNews.com (NYSE: BAC).
The brokerage assigned a “hold” rating to the company’s stock, indicating that investors should not sell the stock.
On Friday, January 13, Bank of America (NYSE: BAC) disseminated the most recent quarterly results report that the company had to offer.
The company that provides financial services reported earnings per share of $0.85 for the quarter, which was $0.09 more than the consensus expectation of $0.76 per share.
The company announced sales for the quarter at $24.50 billion, significantly higher than the consensus estimate of $24.17 billion.
Bank of America had a netting margin of 23.93 percent, and the return on equity for the company was 11.41%.
The company’s quarterly revenue increased by 11.1% when measured against the same period in the prior year’s financial year.
The corporation reported a profit of $0.82 per share during the same period the year before.
Professionals in a research project that Bank of America will achieve earnings of $3.38 per share in 2018.
On Thursday, the price of a single share of Bank of America stock was set to commence trading at $28.49.
The company has a price-to-earnings ratio of 8.93, a price-to-growth ratio of 1.28, and a beta value of 1.40.
Its market capitalization is currently sitting at a value of $228.03 billion.
During the past year, the price of a share of Bank of America has fluctuated between $27.68 and $44.63, reaching a low of $27.68 and a high of $44.63.
There is debt that is 1.13 times the amount of equity held, 0.78 times the number of current assets, and 0.77 times the amount of liquid assets.
The stock price has had a simple moving average of $34.25 over the past 50 days and $34.15 over the last 200 days.
In recent years, several additional authorities have contributed to the body of knowledge concerning BAC by conducting investigations.
Atlantic Securities lowered its recommendation for Bank of America stock from “overweight” to “neutral” in a research report issued on January 31.
They set their price target for the stock at $40.00.
The report was issued to coincide with the company’s decision to lower its price target for the stock. Oppenheimer increased their price objective for Bank of America stock from $50 to $53 and upgraded its rating from “outperform” to “strong buy” in a research note published on Thursday, February 2.
Piper Sandler downgraded Bank of America from “neutral” to “underweight” in a research note published on Tuesday, January 17.
They also decreased their price objective for the stock from $36.00 to $33.00.
The results of all of these adjustments could be seen right away.
Barclays lowered their price objective for Bank of America stock from $51.00 to $48.00.
They downgraded it from an “overweight” rating to a “neutral” rating in a research note published on January 3. Citigroup increased its price objective on Bank of America from $36.00 to $38.00 in a research note published on Tuesday, January 17.
The final and most significant adjustment was made here. Six research analysts advise buying the stock, seven say to keep their existing positions, and two industry professionals say to sell the stock.
The current consensus rating for Bank of America is “Hold,” and the price target for the company is set at $40.16, as indicated by the information that can be found on Bloomberg.com.
According to earlier information regarding Bank of America, business insider Matthew M. Koder sold 105,054 shares of the company’s stock on Thursday, February 23.
This transaction was reported in the news.
A total of 3,600,200.58 dollars’ worth of the company’s stock was traded for $34.27 per share, making the total amount transacted $3,600,200.58. Following the completion of the transaction, the corporate insider now has direct ownership of 319,803 shares, which have a value of $10,959,648.81.
A document containing the information given to the Securities and Exchange Commission regarding the transaction can be found on this website.
The document contains all of the information that was given to the SEC.
According to related news, on February 2, Matthew M. Koder, an insider at Bank of America, sold 214,745 shares.
A total of 7,711,492.95 dollars worth of shares were transacted at an average price of $35.91 per share, leading to a total sale volume of 7,711,492.95 dollars.
As a direct result of the transaction, the company insider now owns 214,747 shares.
The total value of these shares is $7,711,564.77. Following this link will take you to a document submitted to the Securities and Exchange Commission (SEC).
The document contains an in-depth explanation of the transaction that was reported to the SEC. On February 23, Matthew M. Koder, an insider at Bank of America, sold 105,054 shares of the company’s stock.
This transaction involved 105,054 shares of the company’s stock.
A total of 3,600,200.58 dollars’ worth of the company’s stock was traded for $34.27 per share, making the total amount transacted $3,600,200.58. Following the completion of the sale, the company insider holds a total of 319,803 shares of the corporation, which are currently estimated to be worth $10,959,648.81.
Disclosures related to the sale might be found in this website section.
There are 0.27% of the company’s shares that company insiders hold.
Over the past few months, several institutional investors and hedge funds have adopted new points of view regarding the business sector as a whole.
During the third quarter, the value of Vanguard Group INC’s holdings in Bank of America increased by 0.6% from the previous quarter’s level. Following the acquisition of an additional 3,313,229 shares during the most recent fiscal quarter, Vanguard Group INC now has a total of 602,457,736 shares of the company’s stock in its possession have a value of $18,194,222,000,000.
Moneta Group Investment Advisers LLC’s Bank of America stock holdings increased by 108,111.3% during the fourth quarter due to the company’s recent stock purchases.
Moneta Group Investment Advisors LLC now has 193,168,025 shares after purchasing an additional 192,989,515 in the most recent quarter.
This gives the firm a total value of $6,397,725,000 in business shares.
In the fourth quarter of 2018, Price T. Rowe Associates INC, MD, made a 22.7% investment in Bank of America stock, which resulted in the company increasing the percentage of shares it owned.
Price T. Rowe Associates INC (MD) now owns a total of 127,177,786 shares of the stock of the financial services provider, which has a value of $4,212,128,000, following the acquisition of an additional 23,532,190 shares during the most recent quarter.
This brings the company’s total number of shares to 127,177,786.
In the last three months of 2018, Geode Capital Management LLC increased 1.1% in the proportion of Bank of America shares held in its portfolio by. Geode Capital Management LLC now owns a total of 123,636,775 shares of the financial services provider’s stock, which are worth a total of $4,087,307,000 following the acquisition of an additional 1,327,840 shares during the most recent quarter. Norges Bank made a new investment in Bank of America during the fourth quarter, and this investment currently has an approximate market value of $3,436,543,000.
The agenda was complete, and this was its last and most important item.
At present, institutional investors such as hedge funds and other types of institutional investors own 68.34% of the shares in the company.