Street Reports

Analysts Opinion on Bank of America Corp (NYSE:BAC)


The shares of Bank of America Corp (NYSE:BAC)currently has mean rating of 1.9 while 17 analyst have recommended the shares as ‘BUY’ ,10 recommended as ‘OUTPERFORM’ and 6 recommended as ‘HOLD’.The rating score is on a scale of 1 to 5 where 1 stands for strong buy and 5 stands for sell

The mean price target for the shares of Bank of America Corp (NYSE:BAC)is at $17.40 while the highest price target suggested by the analysts is $20.00 and low price target is $15.00. The mean price target is calculated keeping in view the consensus of 31 brokerage firms.

The company’s mean estimate for sales for the current quarter ending Jun 16 is 20.95B by 16 analysts. The means estimate of sales for the year ending Dec 16 is 83.46B by 16 analysts.

The average estimate of EPS for the current fiscal quarter for Bank of America Corp (NYSE:BAC)stands at $0.37 while the EPS for the current year is fixed at $1.31 by 29.00 analysts

The next one year’s EPS estimate is set at 1.58 by 28.00 analysts while a year ago the analysts suggested the company’s EPS at $1.31. The analysts also projected the company’s long-term growth at 7.43% for the upcoming five years

In its latest quarter ended on 31 Mar 2016 , Bank of America Corp (NYSE:BAC)reported earnings of $0.21. The posted earnings missed the analyst’s consensus by $0.00 with the surprise factor of 0.00%. In the matter of earnings surprises, the term ‘Cockroach Effect’ is often implied. Cockroach Effect is a market theory that suggests that when a company reveals bad news to the public, there may be many more related negative events that have yet to be revealed. In the case of earnings surprises, if a company is suggesting a negative earnings surprise it means there are more to come.

Bank of America Corp (NYSE:BAC) traded up +3.16% during trading on Friday, hitting $14.05 . The stock had a trading volume of 82.5 M shares. The firm has a 50 day moving average of $14.17 and a 200-day moving average of $14.25. The stock has a market cap of $147.65B and a price-to-earnings ratio of 11.04. On Jul 22, 2015 the shares registered one year high at $18.48 and the one year low was seen on Feb 11, 2016.

On June 23, 2016 Bank of America Corp (NYSE:BAC) appointed Michael D. White as a director, effective immediately. White, 64, is the recently retired chairman, president and CEO of DIRECTV.

“Mike’s expertise leading consumer and technology businesses, working in regulated industries, his finance background, and his international perspective make him a great fit to help oversee the management team and the responsible growth approach to creating value for shareholders,” said Chairman and CEO Brian Moynihan.

“Mike is a proven leader who will further strengthen an already deep board,” said Lead Independent Director Jack Bovender.

White is an advisory partner for Trian Fund Management. He is the former CEO of PepsiCo International and former vice chairman and director of PepsiCo. His experience includes service as CEO of Frito-Lay’s Europe, Africa and Middle East division, and CFO for PepsiCo and certain of its subsidiaries. He is a former senior vice president for Avon Products, Inc., and a former management consultant for Bain & Company and Arthur Andersen & Co.

White received a master’s degree in international relations from Johns Hopkins University and a Bachelor of Arts in English and Russian from Boston College.

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