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Bank of America (BAC) Receives a Buy from J.P. Morgan

In a report issued on April 7, Vivek Juneja from J.P. Morgan maintained a Buy rating on Bank of America (BACResearch Report), with a price target of $48.50. The company’s shares closed last Friday at $39.67.

According to TipRanks.com, Juneja is a 5-star analyst with an average return of 17.0% and a 59.7% success rate. Juneja covers the Financial sector, focusing on stocks such as Fifth Third Bancorp, Citizens Financial, and Regions Financial.

Bank of America has an analyst consensus of Moderate Buy, with a price target consensus of $50.90, representing a 28.9% upside. In a report issued on March 28, RBC Capital also maintained a Buy rating on the stock with a $51.00 price target.

See the top stocks recommended by analysts >>

Based on Bank of America’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $22.06 billion and net profit of $7.01 billion. In comparison, last year the company earned revenue of $20.69 billion and had a net profit of $5.47 billion.

Based on the recent corporate insider activity of 185 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BAC in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Bank of America Corp. provides banking and nonbank financial services. It operates through the following segments: Consumer Banking, Global Wealth and Investment Management, Global Banking, Global Markets, and All Other. The company was founded by Amadeo Peter Giannini in 1904 is headquartered in Charlotte, NC.

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