Bank of America Rating Lowered to Underperform at JMP Securities (BAC)
Bank of America (NYSE: BAC) was downgraded by JMP Securities from a “market perform” rating to an “underperform” rating in a research note issued on Monday. They currently have a $5.50 price target on the stock.
BAC has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Bank of America in a research note to investors on Friday, April 20th. They now have a $9.25 price target on the stock. Separately, analysts at Citigroup (NYSE: C) raised their price target on shares of Bank of America from $8.50 to $9.00 in a research note to investors on Friday, April 20th. They now have a “neutral” rating on the stock. Finally, analysts at CLSA downgraded shares of Bank of America from an “underperform” rating to a “sell” rating in a research note to investors on Friday, April 20th.
Shares of Bank of America traded up 3.22% during mid-day trading on Monday, hitting $7.05. Bank of America has a one year low of $4.92 and a one year high of $11.92. The company’s market cap is $75.976 billion.
Bank of America last issued its quarterly earnings data on Thursday, April 19th. The company reported $0.03 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.11 by $0.08. Bank of America’s revenue was down 17.0% compared to the same quarter last year. On average, analysts predict that Bank of America will post $0.17 earnings per share next quarter.
Bank of America Corporation (Bank of America) is a bank holding company, and a financial holding company.