Research analysts at Evercore Partners decreased their earnings per share (EPS) estimates on shares of Bank of America (NYSE: BAC) in a report issued on Monday. They currently have an “overweight” rating and a $8.00 price target on the company’s shares.
Separately, analysts at Goldman Sachs (NYSE: GS) downgraded shares of Bank of America from a “buy” rating to a “neutral” rating in a research note to investors on Monday. Analysts at Zacks Investment Research reiterated an “underperform” rating on shares of Bank of America in a research note to investors on Monday, January 23rd. They now have a $6.50 price target on the stock. Also, analysts at UBS AG (NYSE: UBS) reiterated a “neutral” rating on shares of Bank of America in a research note to investors on Friday, January 20th.
Bank of America Corporation is a bank holding and a financial holding company. It is a financial institution, serving individual consumers, small and middle market businesses, corporations and governments with a range of banking, investing, asset management and other financial and risk management products and services. Through its banking subsidiaries and various non-banking subsidiaries, it provides a range of banking and non-banking financial services and products through six business segments: Deposits, Global Card Services, Home Loans & Insurance, Global Commercial Banking, Global Banking & Markets and Global Wealth & Investment Management. In June 2011, it sold Balboa Insurance Company. On September 29, 2011, it ceased to be a substantial holder in Bow Energy Limited. On November 24, 2011, it announced that Bank of America Corporation ceased to be a substantial holder in the Company. In December 2011, its Bank of America Merrill Lynch closed its private banking unit in Brazil.
Bank of America traded down 3.06% on Monday, hitting $7.067. Bank of America has a 1-year low of $4.92 and a 1-year high of $14.95. The stock has a 50-day moving average of $6.10 and a 200-day moving average of $6.86. The company has a market cap of $74.457 billion and a price-to-earnings ratio of 729.00.