Traders Sell Shares of Bank of America Corp. (BAC) on Strength (BAC)
Investors sold shares of Bank of America Corp. (NYSE:BAC) on strength during trading hours on Monday. $256.91 million flowed into the stock on the tick-up and $286.13 million flowed out of the stock on the tick-down, for a money net flow of $29.22 million out of the stock. Of all companies tracked, Bank of America Corp. had the 18th highest net out-flow for the day. Bank of America Corp. traded up $0.02 for the day and closed at $16.00
A number of equities research analysts have issued reports on BAC shares. Deutsche Bank AG reiterated a “buy” rating on shares of Bank of America Corp. in a report on Wednesday, June 15th. Vetr lowered shares of Bank of America Corp. from a “strong-buy” rating to a “buy” rating and set a $14.87 price objective on the stock. in a report on Wednesday, June 15th. TheStreet upgraded shares of Bank of America Corp. from a “hold” rating to a “buy” rating in a report on Tuesday, May 10th. Buckingham Research restated a “buy” rating on shares of Bank of America Corp. in a report on Tuesday, June 21st. Finally, Sanford C. Bernstein restated a “buy” rating on shares of Bank of America Corp. in a report on Monday, June 20th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $24.54.
The stock has a market capitalization of $168.26 billion and a price-to-earnings ratio of 13.41. The company has a 50 day moving average price of $14.92 and a 200 day moving average price of $14.01.
Bank of America Corp. (NYSE:BAC) last posted its quarterly earnings data on Monday, July 18th. The financial services provider reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. During the same period in the prior year, the company posted $0.45 earnings per share. The firm had revenue of $20.60 million for the quarter, compared to analysts’ expectations of $20.41 billion. Bank of America Corp.’s quarterly revenue was down 7.2% compared to the same quarter last year. Analysts predict that Bank of America Corp. will post $1.26 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Friday, September 2nd will be paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.88%. This is a boost from Bank of America Corp.’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Wednesday, August 31st.
In other news, Director Thomas D. Woods acquired 25,000 shares of Bank of America Corp. stock in a transaction on Tuesday, August 2nd. The stock was bought at an average cost of $14.13 per share, with a total value of $353,250.00. Following the completion of the purchase, the director now owns 32,459 shares of the company’s stock, valued at $458,645.67. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.
Bank of America Corporation is a bank holding and financial holding company. The Company is a financial institution, serving individual consumers, small- and middle-market businesses, institutional investors, corporations and governments with various banking, investing, asset management and other financial and risk management products and services.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.