Bank of America Corporation (NYSE:BAC) – Investment analysts at Jefferies Group lowered their FY2017 EPS estimates for shares of Bank of America Corporation in a research note issued on Wednesday. Jefferies Group analyst K. Usdin now anticipates that the financial services provider will post earnings per share of $1.80 for the year, down from their previous forecast of $1.90. Jefferies Group has a “Buy” rating on the stock. Jefferies Group also issued estimates for Bank of America Corporation’s FY2018 earnings at $2.15 EPS.

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Other analysts have also issued research reports about the stock. Compass Point lowered shares of Bank of America Corporation from a “neutral” rating to a “sell” rating and set a $20.00 price target on the stock. in a research report on Thursday, March 16th. Credit Suisse Group lifted their price target on shares of Bank of America Corporation to $27.00 and gave the company an “outperform” rating in a research report on Thursday, March 16th. Zacks Investment Research lowered shares of Bank of America Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, March 15th. Vetr raised shares of Bank of America Corporation from a “hold” rating to a “buy” rating and set a $26.48 price target on the stock in a research report on Tuesday, March 14th. Finally, BidaskClub upgraded shares of Bank of America Corporation from a “hold” rating to a “buy” rating in a report on Friday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the stock. Bank of America Corporation has a consensus rating of “Buy” and a consensus price target of $22.78.

Bank of America Corporation (NYSE BAC) opened at 24.83 on Monday. The company has a market cap of $261.12 billion, a PE ratio of 15.28 and a beta of 1.27. The stock’s 50 day moving average price is $23.26 and its 200-day moving average price is $23.42. Bank of America Corporation has a 1-year low of $13.11 and a 1-year high of $25.80.

The business also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Friday, June 2nd were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Wednesday, May 31st. This represents a $0.30 annualized dividend and a yield of 1.21%. Bank of America Corporation’s payout ratio is currently 18.99%.

In related news, Director Thomas D. Woods bought 25,000 shares of the stock in a transaction on Thursday, April 27th. The shares were bought at an average cost of $23.81 per share, for a total transaction of $595,250.00. Following the completion of the transaction, the director now owns 40,830 shares of the company’s stock, valued at approximately $972,162.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.18% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Armbruster Capital Management Inc. raised its position in shares of Bank of America Corporation by 10.8% in the first quarter. Armbruster Capital Management Inc. now owns 4,323 shares of the financial services provider’s stock valued at $102,000 after buying an additional 423 shares during the last quarter. Empirical Finance LLC bought a new position in shares of Bank of America Corporation during the fourth quarter valued at $103,000. PHH Investments Ltd. bought a new position in shares of Bank of America Corporation during the fourth quarter valued at $103,000. Integrated Investment Consultants LLC raised its position in shares of Bank of America Corporation by 12.9% in the first quarter. Integrated Investment Consultants LLC now owns 4,368 shares of the financial services provider’s stock valued at $103,000 after buying an additional 500 shares during the last quarter. Finally, Tortoise Investment Management LLC raised its position in shares of Bank of America Corporation by 27.0% in the fourth quarter. Tortoise Investment Management LLC now owns 4,700 shares of the financial services provider’s stock valued at $104,000 after buying an additional 1,000 shares during the last quarter. Institutional investors own 65.84% of the company’s stock.

Bank of America Corporation Company Profile

Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers and others with a range of banking, investing, asset management and other financial and risk management products and services. The Company, through its banking and various non-bank subsidiaries, throughout the United States and in international markets, provides a range of banking and non-bank financial services and products through four business segments: Consumer Banking, which comprises Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S.

Earnings History and Estimates for Bank of America Corporation (NYSE:BAC)

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