Equities research analysts at Credit Agricole downgraded shares of Bank of America (NYSE: BAC) from an "outperform" rating to an "underperform" rating in a research note to investors on Monday.
Separately, analysts at Wells Fargo & Co. (NYSE: WFC) downgraded shares of Bank of America from an "outperform" rating to a "market perform" rating in a research note to investors on Friday. Also, analysts at JPMorgan Chase & Co. (NYSE: JPM) reiterated an "overweight" rating on shares of Bank of America in a research note to investors on Tuesday, July 26th. They now have a $18.00 price target on the stock.
Shares of Bank of America traded down 3.26% during mid-day trading on Tuesday, hitting $9.49. Bank of America has a 52 week low of $9.40 and a 52 week high of $15.31. The stock's 50-day moving average is $10.41 and its 200-day moving average is $12.49. The company has a market cap of $96.164 billion.
Bank of America last announced its quarterly results on Tuesday, July 19th. The company reported $0.33 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.30 EPS by $0.03. The companyâ€™s quarterly revenue was down 50.2% on a year-over-year basis. On average, analysts predict that Bank of America will post $0.27 EPS next quarter.
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, large corporations and governments with a range of banking, investing, asset management and other financial and risk management products and services. Through its banking subsidiaries (the Banks) and various nonbanking subsidiaries throughout the United States and in selected international markets, it provides a range of banking and nonbanking financial services and products through six business segments: Deposits, Global Card Services, Home Loans & Insurance, Global Commercial Banking, Global Banking & Markets, Global Wealth & Investment Management, with the remaining operations recorded in All Other.
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