Barclays Believes Bank of America (BAC) Still Has Room to Grow

In a report issued on December 31, Jason Goldberg from Barclays maintained a Buy rating on Bank of America (BACResearch Report), with a price target of $58.00. The company’s shares closed last Tuesday at $47.99, close to its 52-week high of $48.69.

According to TipRanks.com, Goldberg is a 5-star analyst with an average return of 13.2% and a 61.2% success rate. Goldberg covers the Financial sector, focusing on stocks such as Zions Bancorporation National Association, Capital One Financial, and Huntington Bancshares.

Bank of America has an analyst consensus of Moderate Buy, with a price target consensus of $50.00, representing a 6.2% upside. In a report issued on December 27, Oppenheimer also maintained a Buy rating on the stock with a $54.00 price target.

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Bank of America’s market cap is currently $377.9B and has a P/E ratio of 13.81.

Based on the recent corporate insider activity of 129 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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