Fintel reports that on October 18, 2024, Phillip Securities upgraded their outlook for Bank of America (NYSE:BAC) from Neutral to Accumulate.
Analyst Price Forecast Suggests 10.43% Upside
As of September 25, 2024, the average one-year price target for Bank of America is $46.73/share. The forecasts range from a low of $39.39 to a high of $54.60. The average price target represents an increase of 10.43% from its latest reported closing price of $42.32 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Bank of America is 107,360MM, an increase of 13.46%. The projected annual non-GAAP EPS is 4.01.
What is the Fund Sentiment?
There are 4,235 funds or institutions reporting positions in Bank of America. This is an increase of 45 owner(s) or 1.07% in the last quarter. Average portfolio weight of all funds dedicated to BAC is 0.67%, an increase of 2.51%. Total shares owned by institutions increased in the last three months by 1.05% to 6,280,126K shares. 
The put/call ratio of BAC is 1.06, indicating a bearish outlook.
What are Other Shareholders Doing?
Berkshire Hathaway holds 1,032,852K shares representing 13.43% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 209,897K shares representing 2.73% ownership of the company. In its prior filing, the firm reported owning 210,263K shares , representing a decrease of 0.17%. The firm increased its portfolio allocation in BAC by 1.81% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 174,622K shares representing 2.27% ownership of the company. In its prior filing, the firm reported owning 173,507K shares , representing an increase of 0.64%. The firm decreased its portfolio allocation in BAC by 0.08% over the last quarter.
Jpmorgan Chase holds 147,816K shares representing 1.92% ownership of the company. In its prior filing, the firm reported owning 146,885K shares , representing an increase of 0.63%. The firm increased its portfolio allocation in BAC by 2.49% over the last quarter.
Geode Capital Management holds 138,556K shares representing 1.80% ownership of the company. In its prior filing, the firm reported owning 137,026K shares , representing an increase of 1.10%. The firm increased its portfolio allocation in BAC by 0.63% over the last quarter.
Bank Of America Background Information
(This description is provided by the company.)
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 66 million consumer and small business clients with approximately 4,300 retail financial centers, including approximately 2,900 lending centers, 2,500 financial centers with a Consumer Investment Financial Solutions Advisor and approximately 2,300 business centers; approximately 17,000 ATMs; and award-winning digital banking with approximately 39 million active users, including approximately 31 million mobile users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and approximately 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
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