Where Does Wall Street Think Bank of America Corp (BAC) Stock Will Go?

Wall Street is positive on Bank of America Corp (BAC). On average, analysts give the stock a Buy rating. The average price target is $35.611, which means analysts expect the stock to climb by 15.66% over the next twelve months. That average ranking earns the stock an Analyst Rating of 31, which is better than 31% of stocks based on data compiled by InvestorsObserver.

Why are Analyst Ratings Important?

A company’s financial statements are a significant factor weighted by experts when analyzing a company’s health. Beyond just the numbers, analysts follow specific industries closely and are able to gain a detailed understanding of how a storm in one part of the world can shutdown supply chains leading to a change in consumption across the globe. This knowledge allows investors to respond to potential changes in the market before they are revealed in a quarterly annoucement. InvestorsObserver averages the ratings across all these analysts and percentile ranks those averages. This allows you to compare stocks in greater detail than the usual five-tiered system used amongst the majority of investors.

What’s Happening With Bank of America Corp Stock Today?

Bank of America Corp (BAC) stock is down -1.6% while the S&P 500 is up 0.29% as of 3:02 PM on Monday, Aug 14. BAC has fallen -$0.50 from the previous closing price of $31.29 on volume of 16,840,858 shares. Over the past year the S&P 500 is up 4.19% while BAC has fallen -15.06%. BAC earned $3.47 a per share in the over the last 12 months, giving it a price-to-earnings ratio of 8.86. Click Here to get the full Stock Report for Bank of America Corp stock.