According to Bloomberg, the average rating for Bank of America Company (NYSE: BAC) among the 18 analysts currently tracking the company is “Moderate Buy.” This rating comes from the analysts who are currently tracking the company. The analysts have suggested that this course of action be taken. Six equity research analysts have suggested that the stock be kept in one’s portfolio, while the other seven have suggested purchasing the stock. The average one-year price estimate for the stock that brokers who reported on the stock in the previous year have given for the stock is $41.94 per share. This estimate was given by brokers who reported on the stock in the previous year.
BAC has been the subject of reports written by various research organizations over the most recent few months. Barclays lowered their price objective on Bank of America from $51.00 to $48.00. They removed the “overweight” rating they had previously assigned to the company in a research note published on January 3. Both of these adjustments were made as a direct result of recent occurrences in the market. On October 12, StockNews.com released a research note on the company, which marked the beginning of the website’s coverage of Bank of America stock. They advised their clients to “hold” the stock moving forward. In a report released on Friday, January 6, Deutsche Bank Aktiengesellschaft lowered their price target on Bank of America from $45.00 to $36.00 and downgraded the company from a “buy” rating to a “hold” rating. These actions were taken in response to the company’s disappointing financial performance. Morgan Stanley rated Bank of America as “equal weight” in a research report published on Thursday, December 15, and decreased its target price for the stock from $38.00 to $37.00. The target price that BMO Capital Markets has set for Bank of America has increased from $41.00 to $42.00, as stated in a research note published on Tuesday, October 18. This was the third and final change, and it was also the most significant.
On November 16, a significant shareholder of America Corp./De Bank sold four shares of the company’s stock, which brings us to another bit of information regarding Bank of America. The total amount received for the sale of the shares was $95,000.00, equivalent to an average price per share of $23,750.00. On the Securities and Exchange Commission website, you can find a copy of the legal document that provides a more in-depth description of the sale. The document in question describes the sale of the asset. The company’s management and employees have a combined control of 0.26 percent of the company’s total outstanding shares.
Recent events have resulted in several institutional investors and hedge funds adjusting the percentage of the company’s shares they own. Vanguard Group Inc. increased the proportion of Bank of America stock owned by 0.6 percentage points during the third quarter. Vanguard Group Inc. now has a total of 602,457,736 stock held by the financial services provider, with a value of $18,194,222,000. This is because the company made an additional purchase of 3,313,229 shares during the most recent fiscal quarter. 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 owns a total of 103,645,596 stock held by the financial services provider after purchasing an additional 38,870,780 shares during the most recent quarter. This brings the total number of shares owned by the company to 103,870,780. The price per share of the stock is currently $3,130,177,000. The existing holdings of Legal & General Group Plc were bolstered by an increase of 2.9% in the number of Bank of America common stock shares during the second quarter.
According to the information presented by the provider of financial services, Legal & General Group Plc now owns 52,475,574 shares. This is a result of the company’s purchase of an additional 1,493,089 shares during the most recent quarter. The price per share of the stock is currently $1,633,568,000. During the second quarter of the fiscal year, Dodge & Cox increased its stake in Bank of America by 3.5 percent by purchasing additional shares. Dodge & Cox now has 44,434,589 shares after purchasing an additional 1,511,600 in the most recent fiscal quarter. This brings the total number of shares owned by the company to 44,434,589. Approximately 1,383,249,000 dollars is the value of these holdings. During the first three months of this year, Charles Schwab Investment Management Inc. increased the amount of Bank of America stock that is owned by 1.7%, making this the last and most important point. Charles Schwab Investment Management Inc. now has a total of 36,940,776 shares of the financial services provider’s stock, which have a value of $1,522,699,000, following the acquisition of an additional 603,512 shares during the most recent quarter. Currently, 68.34% of the company is owned by institutional investors and those who invest through hedge funds.
On Tuesday, shares of NYSE: BAC began trading at $35.23 each when the market opened. The company has a price-to-earnings ratio of 11.04, a price-to-earnings-to-growth ratio of 1.40, and a beta value of 1.39. It is estimated to be worth 282.63 billion dollars today. The price of a share of Bank of America stock has ranged from $29.31 to $50.11 over the past year, with an all-time low of $29.31. The current price of a share of the company’s stock is trading at a 50-day moving average of $34.76 and a 200-day moving average of $33.95. 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.
On Friday, January 13, Bank of America (NYSE: BAC) disseminated the most recent.