Keefe, Bruyette & Woods reiterated their buy rating on shares of Bank of America (NYSE:BAC) in a research report sent to investors on Thursday morning. Keefe, Bruyette & Woods currently has a $35.00 price target on the financial services provider’s stock.
Several other analysts have also recently commented on the company. Vetr raised Bank of America from a buy rating to a strong-buy rating and set a $34.96 price target for the company in a report on Friday, March 23rd. Credit Suisse Group raised their price target on Bank of America from $35.00 to $36.00 and gave the company an outperform rating in a report on Friday, March 16th. Zacks Investment Research cut Bank of America from a buy rating to a hold rating in a report on Tuesday, February 13th. Morgan Stanley raised their price target on Bank of America from $35.00 to $37.00 and gave the company an overweight rating in a report on Friday, February 2nd. Finally, ValuEngine raised Bank of America from a hold rating to a buy rating in a report on Friday, February 2nd. Nine investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $30.97.
Shares of BAC stock opened at $29.63 on Thursday. Bank of America has a twelve month low of $22.07 and a twelve month high of $33.05. The company has a market capitalization of $303,520.53, a price-to-earnings ratio of 16.19, a P/E/G ratio of 1.49 and a beta of 1.37. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.93.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Friday, March 2nd were issued a dividend of $0.12 per share. The ex-dividend date was Thursday, March 1st. This represents a $0.48 annualized dividend and a yield of 1.62%. Bank of America’s dividend payout ratio is presently 26.23%.
A number of hedge funds have recently modified their holdings of the stock. Burt Wealth Advisors increased its position in Bank of America by 4,013.1% during the third quarter. Burt Wealth Advisors now owns 4,401 shares of the financial services provider’s stock worth $112,000 after buying an additional 4,294 shares in the last quarter. MPS Loria Financial Planners LLC purchased a new position in Bank of America during the second quarter worth $115,000. Legacy Advisors LLC purchased a new position in Bank of America during the third quarter worth $115,000. HWG Holdings LP purchased a new position in Bank of America during the third quarter worth $116,000. Finally, Bristlecone Advisors LLC purchased a new position in Bank of America during the third quarter worth $128,000. 69.84% of the stock is owned by hedge funds and other institutional investors.
About Bank of America
Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small- and middle-market businesses, institutional investors, large corporations, and governments worldwide. It operates through four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.
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