Vetr cut shares of Bank of America Corp (NYSE:BAC) from a buy rating to a hold rating in a report issued on Monday morning. They currently have $26.28 price target on the financial services provider’s stock.

A number of other equities research analysts also recently issued reports on the stock. Macquarie raised shares of Bank of America Corp from a neutral rating to an outperform rating and set a $28.00 price objective for the company in a research report on Thursday, February 16th. Daiwa Capital Markets raised shares of Bank of America Corp from a hold rating to an outperform rating in a research report on Tuesday, February 7th. Goldman Sachs Group Inc reissued a conviction-buy rating and set a $27.00 price objective on shares of Bank of America Corp in a research report on Tuesday, January 17th. Nomura reissued a buy rating and set a $25.00 price objective on shares of Bank of America Corp in a research report on Tuesday, January 17th. Finally, FBR & Co reaffirmed an outperform rating and issued a $27.00 target price on shares of Bank of America Corp in a report on Tuesday, January 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-seven have given a buy rating and two have given a strong buy rating to the stock. Bank of America Corp currently has a consensus rating of Buy and an average target price of $22.37.

Bank of America Corp (NYSE:BAC) opened at 22.71 on Monday. Bank of America Corp has a one year low of $12.05 and a one year high of $25.80. The firm has a market capitalization of $238.83 billion, a price-to-earnings ratio of 15.17 and a beta of 1.47. The stock’s 50 day moving average price is $23.81 and its 200-day moving average price is $21.67.

Bank of America Corp (NYSE:BAC) last issued its quarterly earnings data on Tuesday, April 18th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.06. Bank of America Corp had a net margin of 18.10% and a return on equity of 6.85%. The firm earned $22.45 billion during the quarter, compared to the consensus estimate of $21.77 billion. During the same quarter in the previous year, the firm posted $0.28 EPS. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities research analysts expect that Bank of America Corp will post $1.75 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Bank of America Corp (BAC) Cut to “Hold” at Vetr Inc.” was first posted by Marea Informative and is the sole property of of Marea Informative. If you are reading this report on another website, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The legal version of this report can be viewed at http://www.mareainformativa.com/bank-of-america-corp-bac-bajo-de-sostener-a-vetr-inc/108986/.

The company also recently declared a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Friday, March 3rd were issued a dividend of $0.075 per share. The ex-dividend date was Wednesday, March 1st. This represents a $0.30 annualized dividend and a yield of 1.32%. Bank of America Corp’s payout ratio is 21.74%.

Institutional investors have recently modified their holdings of the stock. Dodge & Cox purchased a new position in shares of Bank of America Corp during the fourth quarter valued at approximately $4,159,570,000. Norges Bank purchased a new position in shares of Bank of America Corp during the fourth quarter valued at approximately $2,256,221,000. The Manufacturers Life Insurance Company purchased a new position in shares of Bank of America Corp during the third quarter valued at approximately $809,171,000. Lansdowne Partners UK LLP increased its position in shares of Bank of America Corp by 38,029.0% in the fourth quarter. Lansdowne Partners UK LLP now owns 30,503,227 shares of the financial services provider’s stock valued at $674,141,000 after buying an additional 30,423,227 shares during the last quarter. Finally, Emerald Acquisition Ltd. purchased a new position in shares of Bank of America Corp during the second quarter valued at approximately $364,977,000. Institutional investors own 63.95% of the company’s stock.

About Bank of America Corp

Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers and others with a range of banking, investing, asset management and other financial and risk management products and services. The Company, through its banking and various non-bank subsidiaries, throughout the United States and in international markets, provides a range of banking and non-bank financial services and products through four business segments: Consumer Banking, which comprises Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S.

5 Day Chart for NYSE:BAC

To view Vetr’s full report, visit Vetr’s official website.

Receive News & Stock Ratings for Bank of America Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of America Corp and related stocks with our FREE daily email newsletter.