15 analysts have expressed a variety of opinions on Bank of America BAC over the past quarter, offering a diverse set of opinions from bullish to bearish.
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 | 7 | 6 | 2 | 0 |
| Last 30D | 0 | 0 | 0 | 1 | 0 |
| 1M Ago | 0 | 0 | 0 | 0 | 0 |
| 2M Ago | 0 | 4 | 3 | 0 | 0 |
| 3M Ago | 0 | 3 | 3 | 1 | 0 |
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $40.37, a high estimate of $46.00, and a low estimate of $33.00. Marking an increase of 4.18%, the current average surpasses the previous average price target of $38.75.
Breaking Down Analyst Ratings: A Detailed Examination
In examining recent analyst actions, we gain insights into how financial experts perceive Bank of America. The following summary 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 |
|---|---|---|---|---|---|
| Scott Siefers | Piper Sandler | Raises | Underweight | $37.00 | $35.00 |
| Vivek Juneja | JP Morgan | Raises | Overweight | $40.50 | $39.50 |
| 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: Analysts set price targets as an estimate of a stock's future value. Comparing the current and prior price targets provides insight into how analysts' expectations have changed over time. This information can be valuable for investors seeking to understand consensus views on the stock's potential future performance.
For valuable insights into Bank of America's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
Stay up to date on Bank of America analyst ratings.
Discovering Bank of America: A Closer Look
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.
Bank of America's Economic Impact: An Analysis
Market Capitalization Analysis: With an elevated market capitalization, the company stands out above industry averages, showcasing substantial size and market acknowledgment.
Decline in Revenue: Over the 3 months period, Bank of America faced challenges, resulting in a decline of approximately -1.68% in revenue growth as of 31 March, 2024. This signifies a reduction in the company's top-line earnings. When compared to others in the Financials sector, the company faces challenges, achieving a growth rate lower than the average among peers.
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 falls below industry averages, indicating challenges in efficiently using equity capital. With an ROE of 2.32%, the company may face hurdles in generating optimal returns for shareholders.
Return on Assets (ROA): Bank of America's ROA falls below industry averages, indicating challenges in efficiently utilizing assets. With an ROA of 0.19%, the company may face hurdles in generating optimal returns from its assets.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 1.26.
The Significance of Analyst Ratings Explained
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in Benzinga Pro.
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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