Analyst Research

Analyst Sights on Price Target: Bank of America Corp (NYSE:BAC)

Bank of America Corp (NYSE:BAC) shares traded 1.16% during the most recent session the stock exchanged hands 72.37M shares versus average trading capacity of 103.62M shares, yielding a market cap of $233.28B. Wall Street analysts covering the stock are projecting that the stock will reach $26.05 within the next 52-weeks. The mean target projections are based on 29 opinions, the mean target was last revised on 04/24/17.

Taking a broader look brokerage firms’ analysts on the street with an expectant view have Bank of America Corp (NYSE:BAC) high price target of $31.50 and with a conservative view have low price target of $20.00 with a standard deviation of $2.56. If seeing target price from optimistic overview then it has a 33 percent upside potential from the latest closing price of $23.61.

Bank of America Corp (NYSE:BAC) received “Downgrade” rating by Berenberg in a research note issued to investors on Apr-24-17 from Buy to Hold.

Additionally on Apr-04-17 Bank of America Corp (NYSE:BAC) was “Downgraded” by Citigroup from Buy to Neutral and on Feb-16-17 the stock was “Upgraded” by Macquarie from Neutral to Outperform. Furthermore on Jan-11-17 the stock was “Upgraded” by Societe enerale from Hold to Buy.

On the other hand the company has Relative Strength Index (RSI 14) of 51.35 along with Average True Range (ATR 14) of 0.55, Consequently Bank of America Corp (NYSE:BAC) weekly and monthly volatility is 1.75%, 2.08% respectively. The company’s beta value is at 1.34.

In terms of Buy, Sell or Hold recommendations, Bank of America Corp (NYSE:BAC) has an analysts’ mean recommendation of 2.10. This is according to a simplified 1 to 5 scale where 1 represents a Strong Buy and 5 a Strong Sell.

Analysts who have weighed in on projected earnings growth are expecting that Bank of America Corp (NYSE:BAC) will report earnings of $0.47 for the current quarter, however the company’s high EPS estimates are $0.52 and low estimates are $0.43. However the company reported $0.41 earnings per share for the same quarter during last year.

Previously Bank of America Corp (NYSE:BAC) reported $0.41 earnings per share (EPS) for the quarter on 4/18/2017 Before Market Open, beating the consensus estimate of $0.35 by $0.06. The company posted an earnings surprise of 17.14%.

While considering growth estimates of the company, it has next quarter growth estimates of 14.60% whereas during current quarter it has 14.60% estimations over growth, comparing to the estimations of 22.00% during current year and 16.90% for next year. Past 5 years growth of Bank of America Corp (NYSE:BAC) observed at 25.61%, looking forward for the next 5 years it has a strong prediction of 10.49% over growth.

Bank of America Corp (NYSE:BAC) revenue estimates for the current quarter are $22.28B according to 15 number of analysts, for the current quarter the company has high revenue estimates of $22.8B in contradiction of low revenue estimates of $21.88B. For the current year the company’s revenue estimates are $89.36B compared to low analyst estimates of $87.76B and high estimates of $92.84B according 18 number of analysts.

Currently Bank of America Corp (NYSE:BAC) shares owned by insiders are 0.10%, whereas shares owned by institutional owners are 69.20%. However the six-month change in the insider ownership was recorded 0.50%, as well as three-month change in the institutional ownership was recorded -0.01%.

Bank of America Corp (NYSE:BAC) trading -8.49% away from its 52 week high of $25.80 and +98.18% far from the stock’s low point over the past 52 weeks, which was $11.91. The stock hit its 52-week high on 03/02/17, and 52-week low on 06/27/16. The company’s trailing twelve month income is 17.56B dollars and is paying 1.27% dividend yield annually.

Bank of America Corp (NYSE:BAC) trailing twelve month revenues are $51.76B, whereas its price to sales ratio for the same period is 4.63. Its book value per share for the most recent quarter is $24.05 while its price to book ratio for the same period is 0.98, as for as the company’s cash per share for the most recent quarter is $63.07, however its price to cash per share ratio for the same period is 0.37. The stock has a current PEG ratio of 1.40 where as its trailing twelve month P/E ratio is 14.64.

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