Bank of America Corporation (NYSE:BAC) stock is presently standing at about $22.94 and lots of equity research firms seem to have a target price set on the stock. The median one-year price target of 31 analysts covering the company is $24.00, which suggests the stock could still rise over 4 percent. The highest analyst price target is $27.00, which implies a rally of 82 percent. And a quick view of analyst notes show that 16 are rating the stock a buy while 8 rate BAC a strong buy. There are 9 equity research firms advocating a Hold and 0 consider it Sell.
Standpoint Research analysts provided their view on Bank of America Corporation (NYSE:BAC) recently. The rating firm issued a Hold rating to this company in a research note released on Dec 01, 2016. Keefe Bruyette analysts disclosed their opinion on Bank of America Corporation (NYSE:BAC) recently. The rating firm gave a Outperform rating to this stock in a research note published on Nov 29, 2016. According to a research note disclosed on Nov 16, 2016, analysts at Robert W. Baird have lowered their rating on these shares from Outperform to Neutral.
Bank of America Corporation (NYSE:BAC) Transactions Roundup
Several insiders were part of recent insider activity for the stock. Its Director WHITE MICHAEL D Purchased 25,000 company shares for $503000.5, in a transaction on 2016-11-21. Following the transaction, the Director is left with a stake of 503.5 shares, currently valued at $11550. Meanwhile, Owner YNOFACE Holdings Inc purchased 2,147,483,647 shares worth $36872294000.22, through a transaction dated 2016-09-22. Following the completion of the transaction, the insider is left with a stake of 100,000,000 shares, amounting $2294000000. BAC Director Woods Thomas D also purchased 25,000 shares, at a stock price of $14.13. This transaction occurred on 2016-08-02 totals $353000.25. After this transaction, the insider’s stake stands at 32,459 shares, with a market value of $744609.
Executives hold 0.15 percent of the stock. Kenneth D Lewis is one of the biggest insider owners in Bank of America Corporation (NYSE:BAC), according to U.S. Securities and Exchange Commission (SEC) filings. The insider owns 1,430,026 shares which have current market value of around $32804796.44.Mr. Brian T. Moynihan is another major inside shareholder in the company. The insider owns 1,100,710 shares as of less than 0.1%, currently worth $25250287.4. Mr. Bruce E. Thompson is ranked as third insider holder of the stock. This insider holds 905,244 shares with a market value around $20766297.36 as of recent close.
Bank of America Corporation (NYSE:BAC) Earnings Outlook
In Bank of America Corporation (NYSE:BAC)’s latest quarter, EPS moved to $0.41 from $0.37 in preceding quarter and revenues reached at $21,863.00M compared to $20,785.00M. Analysts had expected Bank of America Corporation (NYSE:BAC) to post net income of about $0.33 per share on $20,964.60M in revenue. Looking ahead, analysts on average predict that earnings for the current quarter would come in in the range of $0.38 to $0.48. That is compared with the $0.29 in EPS it reported during the same period a year ago.