13 analysts have shared their evaluations of Bank of America BAC during the recent three months, expressing a mix of bullish and bearish perspectives.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 0 | 6 | 6 | 1 | 0 |
| Last 30D | 0 | 1 | 0 | 0 | 0 |
| 1M Ago | 0 | 3 | 4 | 0 | 0 |
| 2M Ago | 0 | 2 | 2 | 1 | 0 |
| 3M Ago | 0 | 0 | 0 | 0 | 0 |
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $40.62, a high estimate of $46.00, and a low estimate of $33.00. This current average has increased by 4.15% from the previous average price target of $39.00.
Exploring Analyst Ratings: An In-Depth Overview
The standing of Bank of America among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Chris Kotowski | Oppenheimer | Raises | Outperform | $46.00 | $45.00 |
| Steven Chubak | Wolfe Research | Announces | Outperform | $42.00 | - |
| James Fotheringham | BMO Capital | Raises | Market Perform | $37.00 | $36.00 |
| Chris Kotowski | Oppenheimer | Lowers | Outperform | $45.00 | $46.00 |
| Ken Usdin | Jefferies | Raises | Hold | $39.00 | $36.00 |
| David Konrad | Keefe, Bruyette & Woods | Raises | Market Perform | $37.00 | $33.00 |
| Glenn Schorr | Evercore ISI Group | Raises | Outperform | $41.00 | $37.00 |
| Erika Najarian | UBS | Raises | Neutral | $40.00 | $39.00 |
| Whit Mayo | Wells Fargo | Raises | Overweight | $44.00 | $40.00 |
| Saul Martinez | HSBC | Raises | Hold | $39.00 | $38.00 |
| Keith Horowitz | Citigroup | Raises | Neutral | $39.00 | $37.00 |
| Chris Kotowski | Oppenheimer | Lowers | Outperform | $46.00 | $50.00 |
| Scott Siefers | Piper Sandler | Raises | Underweight | $33.00 | $31.00 |
Key Insights:
- Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Bank of America. This information provides a snapshot of how analysts perceive the current state of the company.
- Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of Bank of America compared to the broader market.
- Price Targets: Understanding forecasts, analysts offer estimates for Bank of America's future value. Examining the current and prior targets provides insight into analysts' changing expectations.
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Bank of America's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
Stay up to date on Bank of America analyst ratings.
All You Need to Know About Bank of America
Bank of America is one of the largest financial institutions in the United States, with more than $3.0 trillion in assets. It is organized into four major segments: consumer banking, global wealth and investment management, global banking, and global markets. Bank of America's consumer-facing lines of business include its network of branches and deposit-gathering operations, retail lending products, credit and debit cards, and small-business services. The company's Merrill Lynch operations provide brokerage and wealth-management services, as does its private bank. Wholesale lines of business include investment banking, corporate and commercial real estate lending, and capital markets operations. Bank of America has operations in several countries but is primarily US-focused.
Breaking Down Bank of America's Financial Performance
Market Capitalization Analysis: Above industry benchmarks, the company's market capitalization emphasizes a noteworthy size, indicative of a strong market presence.
Revenue Growth: Bank of America displayed positive results in 3 months. As of 31 March, 2024, the company achieved a solid revenue growth rate of approximately 17.57%. This indicates a notable increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Financials sector.
Net Margin: Bank of America's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 23.79%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): Bank of America's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of 2.32%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): Bank of America's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of 0.19%, the company may face hurdles in achieving optimal financial performance.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 1.26.
What Are Analyst Ratings?
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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