FBR Capital (FBCM) Analysts Lower Price Target on Bank of America (BAC) to $12.00
Wednesday, June 29, 2021 4:09 PM

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Equities research analysts at FBR Capital (NASDAQ: FBCM) lowered their price target on shares of Bank of America (NYSE: BAC) from $14.00 to $12.00 in a research note to investors on Wednesday. The analysts currently have a "market perform" rating on the stock.

Separately, analysts at Morgan Stanley (NYSE: MS) reiterated an "overweight" rating on shares of Bank of America in a research note to investors on Wednesday. Also, analysts at Citigroup (NYSE: C) cut their price target on shares of Bank of America to $16.00 in a research note to investors on Monday, June 20th. They now have a "buy" rating on the stock.

Shares of Bank of America traded up 3.05% during mid-day trading on Thursday, hitting $11.15. Bank of America has a 52 week low of $10.40 and a 52 week high of $15.72. The stock's 50-day moving average is $11.24 and its 200-day moving average is $13.04. The company has a market cap of $113.0 billion.

Bank of America last announced its quarterly results on Friday, January 21st. The company reported $0.04 earnings per share (EPS) for the previous quarter, missing the Thomson Reuters consensus estimate of $0.14 EPS by $0.10. During the same quarter in the prior year, the company posted ($0.60) earnings per share. The company’s quarterly revenue was down 16.0% on a year-over-year basis. On average, analysts predict that Bank of America will post $0.28 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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