CLSA Maintains Bank of America Corp to Outperform with Price Target $18.00

Brokerage firm CLSA Maintains its rating on Bank of America Corp(NYSE:BAC). In a research note issued to the investors, the brokerage major Raises the price-target to $18.00 per share. The shares have been rated Outperform. The rating by CLSA was issued on Sep 23, 2016.

In a different note, On Jul 19, 2016, Keefe Bruyette & Woods said it Maintains its rating on Bank of America Corp. In the research note, the firm Raises the price-target to $14.00 per share. The shares have been rated ‘Market Perform’ by the firm. On Jul 19, 2016, Citigroup said it Maintains its rating on Bank of America Corp. In the research note, the firm Raises the price-target to $16.00 per share. The shares have been rated ‘Buy’ by the firm. Berenberg said it Initiates Coverage on Bank of America Corp, according to a research note issued on Jul 13, 2016. The shares have been rated ‘Buy’ by the firm. On Jul 7, 2016, Raymond James said it Downgrades its rating on Bank of America Corp. The shares have been rated ‘Market Perform’ by the firm.

Bank of America Corp (BAC) made into the market gainers list on Tuesdays trading session with the shares advancing 1.33% or 0.2 points. Due to strong positive momentum, the stock ended at $15.29, which is also near the day’s high of $15.34. The stock began the session at $15.01 and the volume stood at 8,19,92,627 shares. The 52-week high of the shares is $18.09 and the 52 week low is $10.99. The company has a current market capitalization of $156,031 M and it has 10,20,47,98,800 shares in outstanding.

Bank of America Corp(BAC) last announced its earnings results on Jul 18, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $20.62B. Analysts had an estimated revenue of $20.52B. Earnings per share were $0.36. Analysts had estimated an EPS of $0.33.

Several Insider Transactions has been reported to the SEC. On Aug 3, 2016, Thomas D Woods (director) purchased 25,000 shares at $14.13 per share price.Also, On Feb 22, 2016, Thong M Nguyen (Pres, Ret. Bnkg & Co-Hd CB) purchased 30,000 shares at $12.43 per share price.

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 institutional investors corporations and Governments with a range of banking investing asset management and other financial and risk management products and services. Through its banking and various nonbank subsidiaries it provides a range of banking and nonbank financial services and products. It operates in five segments: Consumer & Business Banking which offers a range of credit banking and investment products and services to consumers and businesses; Consumer Real Estate Services which provides a line of consumer real estate products and services; Global Wealth & Investment Management which provides wealth management solutions; Global Banking which provides a range of lending-related products and services and Global Markets which offers sales and trading services.

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