Bank of America (NYSE:BAC) had its target price dropped by equities researchers at Keefe, Bruyette & Woods in a research note issued to investors on Thursday. The brokerage presently has a “market perform” rating on the financial services provider’s stock.

Other equities analysts also recently issued research reports about the company. ValuEngine upgraded Bank of America from a “sell” rating to a “hold” rating in a research note on Thursday, November 8th. BMO Capital Markets boosted their target price on shares of Bank of America from $35.00 to $36.00 and gave the company a “market perform” rating in a report on Tuesday, October 16th. Credit Suisse Group lowered their target price on shares of Bank of America from $36.00 to $35.00 and set an “outperform” rating on the stock in a report on Friday, December 7th. Finally, Wolfe Research assumed coverage on shares of Bank of America in a report on Tuesday, September 25th. They set an “outperform” rating on the stock. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $34.09.

Bank of America stock traded up $0.12 during trading on Thursday, hitting $24.65. The stock had a trading volume of 16,030,346 shares, compared to its average volume of 62,587,628. Bank of America has a 1 year low of $24.29 and a 1 year high of $33.05. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.98. The company has a market cap of $251.79 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 1.21 and a beta of 1.27.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Monday, October 15th. The financial services provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.62 by $0.04. Bank of America had a return on equity of 10.82% and a net margin of 21.85%. The business had revenue of $22.78 billion for the quarter, compared to the consensus estimate of $22.63 billion. During the same quarter in the prior year, the business earned $0.48 earnings per share. Bank of America’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, equities research analysts forecast that Bank of America will post 2.55 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the business. Cognios Capital LLC increased its stake in Bank of America by 4.1% in the second quarter. Cognios Capital LLC now owns 65,984 shares of the financial services provider’s stock valued at $1,860,000 after acquiring an additional 2,592 shares during the last quarter. Alps Advisors Inc. increased its stake in Bank of America by 49.3% in the second quarter. Alps Advisors Inc. now owns 122,874 shares of the financial services provider’s stock valued at $3,464,000 after acquiring an additional 40,583 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Bank of America in the second quarter valued at $27,826,000. Thompson Davis & CO. Inc. increased its stake in Bank of America by 16.6% in the second quarter. Thompson Davis & CO. Inc. now owns 22,833 shares of the financial services provider’s stock valued at $644,000 after acquiring an additional 3,250 shares during the last quarter. Finally, Financial Counselors Inc. increased its stake in Bank of America by 3.6% in the second quarter. Financial Counselors Inc. now owns 109,190 shares of the financial services provider’s stock valued at $3,078,000 after acquiring an additional 3,803 shares during the last quarter. 64.39% of the stock is currently owned by institutional investors and hedge funds.

About Bank of America

Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small- and middle-market businesses, institutional investors, large corporations, and governments worldwide. It operates through four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.

See Also: How To Calculate Debt-to-Equity Ratio

Analyst Recommendations for Bank of America (NYSE:BAC)

Receive News & Ratings for Bank of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of America and related companies with MarketBeat.com's FREE daily email newsletter.