Bank of America Corp's (BAC) "Neutral" Rating Reaffirmed at Citigroup Inc

Bank of America Corp

Bank of America Corp's (BAC) "Neutral" Rating Reaffirmed at Citigroup Inc

New's investment portfolio, making the stock its 16th largest position. The forecast of 18 surveyed investment analysts covering the stock advises investors to Buy stake in the company. Advisor Consultant Network Inc. purchased a new position in Bank of America Corp during the third quarter worth about $370,000. St. Johns Investment Management Company LLC now owns 101,781 shares of the financial services provider's stock worth $1,593,000 after buying an additional 2,975 shares during the last quarter. Banco Santander S.A. acquired a new position in Bank of America Corp during the fourth quarter valued at about $13,600,000. Finally, Blue Bell Private Wealth Management LLC increased its position in Bank of America Corp by 8.8% in the third quarter. Glassman Wealth Services now owns 14,295 shares of the financial services provider's stock valued at $316,000 after buying an additional 100 shares during the last quarter.

On Tuesday, Bank of America Corp (NYSE:BAC)'s stock is trading -0.74% lower at $23.42 with a total trading volume of 33.25 million shares.

With a total market value of $0, Bank of America Corp has 52 week low of $12.05 and a 52 week high of $25.80 with a P/E ratio of 15.63. Bank of America Corp (NYSE:BAC)'s distance from 20 day simple moving average is -3.32% whereas its distance from 50 day simple moving average is -1.36% along with 25.70% distance from 200 day simple moving average.

Shares of Bank of America Corp (NYSE:BAC) opened at 23.35 on Thursday. Number of analysts are covering this stock and now stock has got OUTPERFORM rating from 1 analyst of Thomson Reuters, 5 analysts given HOLD rating to the stock and 0 given UNDERPERFORM rating. The company had revenue of $20 billion for the quarter. The return on equity ratio or ROE stands at 6.7 percent while most common profitability ratio return on investment (ROI) was 4.6 percent. The business's quarterly revenue was up 2.1% compared to the same quarter past year. During the same period a year ago, the business posted $0.27 earnings per share.

Many Analysts provided their foresight on Revenue Estimates of Bank of America Corporation where they believe that the company has the potential to earn average revenue of $1 for the current quarter.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 3rd were issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Wednesday, March 1st. This represents a $0.30 annualized dividend and a dividend yield of 1.27%. Nepsis Mngmt Incorporated has 4.93% invested in Bank of America Corp (NYSE:BAC). Bank of America Corp accounts for about 0.9% of Cigna Investments Inc.

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Several equities research analysts have issued reports on the stock. Erste Group raised shares of Bank of America Corp from a "sell" rating to a "buy" rating in a research note on Thursday, January 5th.

Bank of America Corp (NYSE:BAC) had its stock price target increased to $23.12 by Citigroup Inc in a report released Tuesday April 04, 2017.

Macquarie Upgrades Bank of America Corporation (BAC)'s stock to Outperform with no specific Price Target.

Some buy side analysts are also providing their Analysis on Bank of America Corporation, where 7 analysts have rated the stock as Strong buy, 17 analysts have given a Buy signal, 6 said it's a HOLD, 0 reported it as Underperform and 1 analysts rated the stock as Sell. Finally, Vetr raised shares of Bank of America Corp from a "sell" rating to a "hold" rating and set a $21.86 price target on the stock in a research note on Wednesday, December 28th.

Bank of America Corporation (BAC) belongs to the Financial sector with an industry focus on Money Center Banks, with Mr. Brian T. Moynihan as Chairman, Chief Exec. Officer and Pres. The Company is a financial institution, serving individual consumers and others with a range of banking, investing, asset management and other financial and risk management products and services. The company has market cap of $233.18 billion.

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