Bank of America (BAC) Gets a Buy Rating from RBC Capital


In a report issued on January 16, Gerard Cassidy from RBC Capital maintained a Buy rating on Bank of America (BAC), with a price target of $38.00. The company’s shares closed last Monday at $34.71, close to its 52-week high of $35.72.

According to TipRanks.com, Cassidy is a top 25 analyst with an average return of 28.8% and a 84.4% success rate. Cassidy covers the Financial sector, focusing on stocks such as JPMorgan Chase & Co., Goldman Sachs Group, and Citizens Financial.

Currently, the analyst consensus on Bank of America is a Moderate Buy with an average price target of $38.50, representing a 10.3% upside. In a report issued on January 6, Barclays also upgraded the stock to Buy with a $43.00 price target.

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Bank of America’s market cap is currently $312.2B and has a P/E ratio of 12.63. The company has a Price to Book ratio of 1.27.

Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BAC in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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