Short Term Price Target on Bank of America Corporation (BAC)

Bank of America Corporation (NYSE:BAC) : Average target price received by Bank of America Corporation (NYSE:BAC) is $17.77 with an expected standard deviation of $1.79. The most aggressive target on the stock is $20, whereas the most downbeat target is $15. 17 financial analysts are currently covering the stock.

Bank of America Corporation has lost 5.48% in the last five trading days and dropped 10.7% in the last 4 weeks. Bank of America Corporation has dropped 1.81% during the last 3-month period . Year-to-Date the stock performance stands at -20.58%. Also, Equity Analysts at the Brokerage Firm, Keefe Bruyette & Woods, downgrades their rating on the shares of Bank of America Corporation (NYSE:BAC). Keefe Bruyette & Woods has a Market Perform rating on the shares. Previously, the analysts had a Outperform rating on the shares. As per the latest research report, the brokerage house lowers the price target to $16 per share from a prior target of $17. The rating by the firm was issued on May 16, 2016.

Bank of America Corporation (NYSE:BAC) : 13 brokerage houses believe that Bank of America Corporation (NYSE:BAC) is a Strong Buy at current levels. 3 Analyst considers the fundamentals to be worthy of a Buy recommendation. 5 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Bank of America Corporation (NYSE:BAC). Zacks Investment Research suggests a Sell with a rank of 4.The median of all the 21 Wall Street Analysts endorse the stock as a Buy with a rating of 1.62.

Bank of America Corporation (NYSE:BAC): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $13.37 and $13.07 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $13.38. The buying momentum continued till the end and the stock did not give up its gains. It closed at $13.27, notching a gain of 0.61% for the day. The total traded volume was 125,773,865 . The stock had closed at $13.19 on the previous day.

In an insider trading activity, Nguyen Thong M, officer (Pres, Ret. Bnkg & Co-Hd CB) of Bank Of America Corp /De/, had purchased 30,000 shares on February 22, 2016. The total value of the transaction was $372,900. The information was disclosed with the SEC in a Form 4 Filing. The information is based on open market trades at the market prices.Option exercises are not covered.

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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