There are currently nineteen analysts keeping an eye on Bank of America Co (NYSE: BAC), and the average recommendation from these analysts is “Hold,” as reported by Bloomberg Ratings. Seven research professionals have recommended purchasing the company, five have suggested holding off on making a purchase decision for the time being, and two have suggested selling the company.
Brokers who have published research on the company in the preceding year and have established an average price estimate for it have determined that its price will be $40.44 over the next 12 months.
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.
The stock sale resulted in a total revenue of $3,600,200.58, with the average price at which each share was purchased being $34.27. 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. Simply clicking on this link will take you to a document submitted to the SEC and provide you with additional details regarding the transaction.
In addition, on February 23, an employee of the company named Matthew M. Koder, who held an insider position, sold 105,054 shares of the company’s stock.
The stock sale resulted in a total revenue of $3,600,200.58, with the average price at which each share was purchased being $34.27. Following the conclusion of the transaction, the insider will have direct ownership of 319,803 shares of the company, which have a value of $10,959,648.81.
The transaction was made public through a filing that was made with the SEC, which can be located on the website of the SEC.
In other news, on February 2, a corporate insider named Matthew M. Koder sold 214,745 shares of the company’s stock.
The stock was sold for $7,711,492.95, and the average price per share was $35.91.
The proceeds from the sale of the stock were as follows: Following the conclusion of the transaction, the insider will have 214,747 shares of the company, each of which has a value of $7,711,564.77 at present.
Disclosures related to the sale might be found in this website section. Currently, company insiders hold a percentage of the company’s stock equal to 0.26% of the total outstanding shares.
Recent years have seen an uptick in research articles focusing specifically on BAC.
As part of a research report released on January 3, Barclays lowered its “overweight” rating and price objective on Bank of America from $51.00 to $48.00.
Additionally, the price objective was reduced from $51.00 to $48.00. Odeon Capital Group changed its rating on Bank of America shares from “hold” to “buy” in a research note distributed on Tuesday, January 10.
The firm also set a price objective of $38.44 for the company’s common stock.
Morgan Stanley dropped their price target for Bank of America from $38.00 to $37.00 in a research report made public on Thursday, December 15.
The stock also has an “equal weight” rating, which was given to it by the brokerage firm. Citigroup revealed its intention to raise its price target for Bank of America from $36.00 to $38.00 in a research note that was made public on January 17 and titled “Citigroup Increases Price Target for Bank of America.” Last but not least, on February 8, Keefe, Bruyette & Woods changed their rating on the stock from “market perform” to “underperform” and decreased their price objective for Bank of America from $35.00 to $33.00.
Institutional investors and hedge funds have recently been very active in the stock market, purchasing and selling shares back and forth.
In the final three months of 2018, Moneta Group Investment Advisors LLC bought an additional 108,111.3% of shares in Bank of America, bringing the total number of shares it owned in the bank to 1. Following the acquisition of an additional 192,989,515 shares during the relevant period, Moneta Group Investment Advisors LLC now holds 193,168,025 shares of the stock held by the financial services provider.
The value of these shares is $6,397,725,000.
During the fourth quarter, Norges Bank spent approximately $3,436,543,000 to acquire additional shares of Bank of America to bolster its existing holdings in the company.
DURING THE THIRD QUARTER, Price T. Rowe Associates INC (MD) increased the proportion of Bank of America stock that is owned by an additional 60.0%.
Price T. Rowe Associates INC (MD) now holds 103,645,596 shares of the stock held by the financial services provider after purchasing an additional 38,870,780 shares.
The stock is currently valued at $3,130,177,000.
Parnassus Investments LLC increased its stake in Bank of America by purchasing an additional 25,077,300 shares during the most recent reporting period.
As a result of these transactions, the company now holds 28,077,300 shares of stock in the financial services provider, which have a value of $929,920,000. Compared to the prior period, this represents an increase in ownership of 835.9%.
Last but not least, during the third quarter, Fisher Asset Management LLC increased the amount of Bank of America stock that it owns by 1,366.6%.
This is not to say that this is the least significant development. Fisher Asset Management LLC now has a total of 20,390,322 shares of the stock that the financial services provider holds.
This is the result of acquiring an additional 18,990,473 shares throughout this period.
There is a value of $615,788,000 attached to these shares. Hedge funds and other types of institutional investors own 68.34% of the shares of stock.
At the beginning of trading on Wednesday, the price of BAC stock was $33.00 per share.
The stock has a price-to-earnings ratio of 10.34, and the market capitalization of the company that owns the shares is 264.13 billion dollars at the current time.
The value of the stock’s beta is 1.40, and its price-to-earnings-growth ratio and its beta are currently at 1.44.
The lowest point during the past 12 months for Bank of America was $29.31, and their highest point during the past 12 months was $44.63, and the market capitalization of the company that owns the shares is 264.13 billion dollars at the current time.
The value of the stock’s beta is 1.40, and its price-to-earnings-growth ratio and its beta are currently at 1.44.
The lowest point during the past 12 months for Bank of America was $29.31, and their highest point during the past 12 months was $44.63.
The 50-day simple moving average for the company is $34.66, and the 200-day simple moving average is $34.34, respectively.
A debt-to-equity ratio comes in at 1.13; a current ratio at 0.78; a quick ratio at 0.77; and a current ratio at 0.78.
On Friday, January 13, Bank of America (NYSE: BAC) disseminated the most recent quarterly results report that the company had to offer.
Earnings per share (EPS) for the quarter reported by the financial services industry came in at $0.85, $0.09 more than the average estimate of $0.76.
The earnings were reported for the preceding quarter.
Bank of America achieved a return on equity of 11.41%, while the company achieved a net margin of 23.93%.
The company’s revenue for the period came in at $24.50 billion, substantially higher than the forecasted $24.17 billion that market analysts had used to predict it would be.
During the same period as the previous year, the corporation generated a profit of $0.82 per share.
This compares to the previous year’s results.
The increase in the company’s revenue for the quarter was 11.1% higher compared to the same period the previous year. Stock market analysts have predicted that Bank of America’s current fiscal year will result in $3.38 per share earnings.
This information was derived from historical data.
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