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Jefferies Sticks to Their Hold Rating for Bank of America (BAC)

In a report issued on January 20, Ken Usdin from Jefferies maintained a Hold rating on Bank of America (BACResearch Report), with a price target of $50.00. The company’s shares closed last Monday at $48.51, close to its 52-week high of $50.08.

According to TipRanks.com, Usdin is a top 25 analyst with an average return of 25.2% and a 77.7% success rate. Usdin covers the Financial sector, focusing on stocks such as Zions Bancorporation National Association, People’s United Financial, and Texas Capital Bancshares.

Bank of America has an analyst consensus of Moderate Buy, with a price target consensus of $52.58, implying an 8.3% upside from current levels. In a report issued on January 5, Societe Generale also downgraded the stock to Hold.

See today’s best-performing stocks on TipRanks >>

Bank of America’s market cap is currently $397B and has a P/E ratio of 13.58.

Based on the recent corporate insider activity of 166 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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