Company Update (NYSE:BAC): Bank of America Corp Declares Quarterly Stock Dividends
Bank of America Corp (NYSE:BAC) announced the Board of Directors declared a regular quarterly cash dividend on Bank of America common stock of $0.05 per share, payable December 24 to shareholders of record as of December 4.
The board also declared a regular quarterly cash dividend of $1.75 per share on the 7 percent Cumulative Redeemable Preferred Stock, Series B. The dividend is payable January 25, 2016 to shareholders of record as of January 11, 2016. (Original Source)
Shares of Bank of America opened today at $16 and are currently trading up at $16.065. BAC has a 1-year high of $18.48 and a 1-year low of $14.60. The stock’s 50-day moving average is $15.80 and its 200-day moving average is $16.53.
On the ratings front, Bank of America has been the subject of a number of recent research reports. In a report issued on October 12, Sandler O’Neill analyst Jeff Harte assigned a Hold rating on BAC, with a price target of $17, which implies an upside of 6.3% from current levels. Separately, on the same day, J.P. Morgan’s Vivek Juneja assigned a Buy rating to the stock and has a price target of $17.50.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Jeff Harte and Vivek Juneja have a total average return of 6.2% and 16.1% respectively. Harte has a success rate of 57.9% and is ranked #1346 out of 3795 analysts, while Juneja has a success rate of 71.0% and is ranked #437.
The street is mostly Bullish on BAC stock. Out of 15 analysts who cover the stock, 12 suggest a Buy rating , 2 suggest a Hold and one recommends to Sell the stock. The 12-month average price target assigned to the stock is $19.13, which represents a potential upside of 19.6% from where the stock is currently trading.