Stock 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 June 24 to shareholders of record as of June 3.
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 July 25 to shareholders of record as of July 11. (Original Source)
Shares of Bank of America are currently trading at $15.15, up $0.06 or 0.40%. BAC has a 1-year high of $18.48 and a 1-year low of $10.99. The stock’s 50-day moving average is $13.74 and its 200-day moving average is $15.00.
On the ratings front, BAC has been the subject of a number of recent research reports. In a report issued on April 18, Societe Generale analyst Murali Gopal reiterated a Buy rating on BAC, with a price target of $18, which implies an upside of 19.8% from current levels. Separately, on the same day, Morgan Stanley’s Betsy Graseck assigned a Buy rating to the stock and has a price target of $17.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Murali Gopal and Betsy Graseck have a total average return of 4.7% and 4.9% respectively. Gopal has a success rate of 66.7% and is ranked #1648 out of 3908 analysts, while Graseck has a success rate of 55.7% and is ranked #834.
Overall, one research analyst has rated the stock with a Sell rating, 3 research analysts have assigned a Hold rating and 11 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $17.83 which is 18.7% above where the stock opened today.