Bank of America Corp (BAC) was Initiated by Berenberg to “Buy” and the brokerage firm has set the Price Target at $15. Berenberg advised their investors in a research report released on Jul 13, 2016.
Many Wall Street Analysts have commented on Bank of America Corp. Bank of America Corp was Downgraded by Raymond James to ” Mkt Perform” on Jul 7, 2016. Bank of America Corp was Downgraded by Keefe Bruyette to ” Mkt Perform” on May 16, 2016.
On the company’s financial health, Bank of America Corp reported $0.21 EPS for the quarter, based on the information available during the earnings call on Apr 14, 2016. Analyst had a consensus estimate of $0.21. The company had revenue of $19700.00 million for the quarter, compared to analysts expectations of $20317.78 million. The company’s revenue was down -8.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.27 EPS.
Bank of America Corp opened for trading at $13.29 and hit $13.4 on the upside on Monday, eventually ending the session at $13.21, with a gain of 0.30% or 0.04 points. The heightened volatility saw the trading volume jump to 6,72,67,266 shares. Company has a market cap of $135,692 M.
In a different news, 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.