Analysts' ratings for Bank of America BAC over the last quarter vary from bullish to bearish, as provided by 11 analysts.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 1 | 6 | 2 | 1 | 1 |
| Last 30D | 0 | 1 | 0 | 0 | 0 |
| 1M Ago | 1 | 1 | 2 | 0 | 1 |
| 2M Ago | 0 | 1 | 0 | 1 | 0 |
| 3M Ago | 0 | 3 | 0 | 0 | 0 |
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $42.77, a high estimate of $48.00, and a low estimate of $37.00. This upward trend is apparent, with the current average reflecting a 9.5% increase from the previous average price target of $39.06.
Investigating Analyst Ratings: An Elaborate Study
An in-depth analysis of recent analyst actions unveils 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 |
|---|---|---|---|---|---|
| Gerard Cassidy | RBC Capital | Raises | Outperform | $46.00 | $39.00 |
| Kenneth Leon | CFRA | Announces | Sell | $39.00 | - |
| Scott Siefers | Piper Sandler | Raises | Neutral | $42.00 | $37.00 |
| Ken Usdin | Jefferies | Raises | Hold | $41.00 | $39.00 |
| Glenn Schorr | Evercore ISI Group | Raises | Outperform | $43.00 | $41.00 |
| Jim Mitchell | Seaport Global | Announces | Buy | $48.00 | - |
| David Konrad | Keefe, Bruyette & Woods | Raises | Outperform | $46.00 | $37.00 |
| 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 | - |
Key Insights:
- Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Bank of America. This information offers 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 gauge the dynamics of price targets, providing estimates for the future value of Bank of America's stock. This comparison reveals trends in analysts' expectations over time.
Capture valuable insights into Bank of America's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
Stay up to date on Bank of America analyst ratings.
Unveiling the Story Behind 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.
Understanding the Numbers: Bank of America's Finances
Market Capitalization: Exceeding industry standards, the company's market capitalization places it above industry average in size relative to peers. This emphasizes its significant scale and robust market position.
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. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Financials sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 23.79%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): The company's ROE is below industry benchmarks, signaling potential difficulties in efficiently using equity capital. With an ROE of 2.32%, the company may need to address challenges in generating satisfactory 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.
What Are Analyst Ratings?
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.
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.
Comments
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
