Revenue Update on Bank of America Corp(NYSE:BAC)

Bank of America Corp(NYSE:BAC) announced the earnings results for Fiscal Year 2016 and Q1. The results came in during Pre-market on Apr 14, 2016. Company reported revenue of $19.73B. Analysts estimated a revenue of $20.30B. Earnings per share were $0.21. Analysts had estimated an EPS of $0.21.

In a different note, On Mar 10, 2016, Keefe Bruyette & Woods said it Maintains its rating on Bank of America Corp. In the research note, the firm Raises the price-target to $17.00 per share. The shares have been rated ‘Outperform’ by the firm. On Mar 1, 2016, Atlantic Equities said it Downgrades its rating on Bank of America Corp. The shares have been rated ‘Neutral’ by the firm. On Feb 25, 2016, Credit Suisse said it Maintains its rating on Bank of America Corp. In the research note, the firm Lowers the price-target to $20.00 per share. The shares have been rated ‘Outperform’ by the firm. On Jan 29, 2016, CLSA said it Upgrades its rating on Bank of America Corp. The shares have been rated ‘Outperform’ by the firm. On Jan 26, 2016, Deutsche Bank said it Maintains its rating on Bank of America Corp. According to the research note, Deutsche Bank Lowers the price target to $17 per share from a prior target of $19. The shares have been rated ‘Buy’ by the firm. On Jan 20, 2016, Sandler O’Neill said it Upgrades its rating on Bank of America Corp. The shares have been rated ‘Buy’ by the firm.

Bank of America Corp (BAC) made into the market gainers list on Mondays trading session with the shares advancing 1.21% or 0.17 points. Due to strong positive momentum, the stock ended at $14.17, which is also near the day’s high of $14.24. The stock began the session at $13.85 and the volume stood at 8,19,98,236 shares. The 52-week high of the shares is $18.48 and the 52 week low is $10.99. The company has a current market capitalization of $146,314 M and it has 10,32,56,31,000 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Feb 22, 2016, Thong M Nguyen (Pres, Ret. Bnkg & Co-Hd CB) purchased 30,000 shares at $12.43 per share price.

Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution serving individual consumers small- and middle-market businesses institutional investors corporations and Governments with a range of banking investing asset management and other financial and risk management products and services. Through its banking and various nonbank subsidiaries it provides a range of banking and nonbank financial services and products. It operates in five segments: Consumer & Business Banking which offers a range of credit banking and investment products and services to consumers and businesses; Consumer Real Estate Services which provides a line of consumer real estate products and services; Global Wealth & Investment Management which provides wealth management solutions; Global Banking which provides a range of lending-related products and services and Global Markets which offers sales and trading services.

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