RBC Capital analyst Gerard Cassidy maintained a Buy rating on Bank of America (BAC) on September 28 and set a price target of $28.00. The company’s shares closed last Tuesday at $23.77.
According to TipRanks.com, Cassidy is a top 100 analyst with an average return of 20.6% and a 72.5% success rate. Cassidy covers the Financial sector, focusing on stocks such as JPMorgan Chase & Co., Fifth Third Bancorp, and Goldman Sachs Group.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Bank of America with a $28.14 average price target, which is a 17.3% upside from current levels. In a report issued on September 13, Credit Suisse also maintained a Buy rating on the stock with a $31.00 price target.
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Based on the recent corporate insider activity of 151 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying 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.
Bank of America Corp. is a bank and financial holding company, which engages in the provision of banking and nonbank financial services. It operates through the following segments: Consumer Banking, Global Wealth and Investment Management, Global Banking, Global Markets, and All Other. The Consumer Banking segment offers credit, banking, and investment products and services to consumers and small businesses. The Global Wealth and Investment Management provides client experience through a network of financial advisors focused on to meet their needs through a full set of investment management, brokerage, banking, and retirement products. The Global Banking segment deals with lending-related products and services, integrated working capital management and treasury solutions to clients, and underwriting and advisory services. The Global Markets segment includes sales and trading services, as well as research, to institutional clients across fixed-income, credit, currency, commodity, and equity businesses. The All Other segment consists of asset and liability management activities, equity investments, non-core mortgage loans and servicing activities, the net impact of periodic revisions to the mortgage servicing rights (MSR) valuation model for both core and non-core MSRs, other liquidating businesses, residual expense allocations and other. The company was founded by Amadeo Peter Giannini in 1904 is headquartered in Charlotte, NC.
