Bank of America Corporation (BAC): Price Target and June Short Interest Disclosure

Bank of America Corporation (BAC) : The highest short term price target forecast on Bank of America Corporation (BAC) is $20 and the lowest target price is $15. A total of 16 equity analysts are currently covering the company. The average price of all the analysts is $17.69 with a standard deviation of $1.62.

Bank of America Corporation (BAC) reported a rise of 1% or 779,780 shares in its short interest. The short figure came in at 0.8% of the total floats. The average daily volume of 126,265,910 shares suggests that the days to cover 78,567,157 short positions, as on June 30,2016, will be 1. On June 15,2016, the short interest was 77,787,377 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.

Also, Raymond James downgrades its rating on Bank of America Corporation (NYSE:BAC). Analysts at the Raymond James have a current rating of Market Perform on the shares. The shares were previously rated Outperform. The rating by the firm was issued on July 7, 2016.


Bank of America Corporation (NYSE:BAC): stock turned positive on Thursday. Though the stock opened at $13.73, the bulls momentum made the stock top out at $13.78 level for the day. The stock recorded a low of $13.64 and closed the trading day at $13.65, in the green by 1.56%. The total traded volume for the day was 97,852,124. The stock had closed at $13.44 in the previous days trading.

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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