In a report released today, Gerard Cassidy from RBC Capital maintained a Buy rating on Bank of America (BAC), with a price target of $30.00. The company’s shares closed last Tuesday at $22.14.
According to TipRanks.com, Cassidy is a top 25 analyst with an average return of 21.2% and a 71.9% success rate. Cassidy covers the Financial sector, focusing on stocks such as JPMorgan Chase & Co., Fifth Third Bancorp, and Goldman Sachs Group.
Currently, the analyst consensus on Bank of America is a Moderate Buy with an average price target of $28.77, representing a 26.2% upside. In a report issued on March 27, Morgan Stanley also maintained a Buy rating on the stock with a $23.00 price target.
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The company has a one-year high of $35.73 and a one-year low of $17.96. Currently, Bank of America has an average volume of 80.4M.
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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.