In a report released yesterday, Chris Kotowski from Oppenheimer maintained a Buy rating on Bank of America (BAC), with a price target of $48.00. The company’s shares closed last Monday at $34.67, close to its 52-week high of $35.72.
According to TipRanks.com, Kotowski is a top 100 analyst with an average return of 13.2% and a 71.7% success rate. Kotowski covers the Financial sector, focusing on stocks such as Apollo Global Management, Ares Management, and Monroe Capital.
Currently, the analyst consensus on Bank of America is a Moderate Buy with an average price target of $37.69, an 8.4% upside from current levels. In a report issued on December 31, RBC Capital also maintained a Buy rating on the stock with a $38.00 price target.
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Based on Bank of America’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $27.21 billion and net profit of $6.99 billion. In comparison, last year the company earned revenue of $28.53 billion and had a net profit of $7.28 billion.
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.
