JMP Securities analysts upgraded multinational banker and financial services company Bank of America Corp (BAC) as industry sales growth is expected to increase.
The analysts upgraded BAC from “Underperform” to “Market Perform.” The firm also increased Bank of America’s earnings estimates due to the overall expectation of financial industry sales growth.
Bank of America shares were up slightly during premarket trading on Thursday. The stock is up +116.37% over the past year.
The Bottom Line
Shares of Bank of America (BAC) have a .33% dividend yield, based on last night’s closing stock price of $12.03. The stock has technical support in the $10.50-$11.00 price area. If the shares can firm up, we see overhead resistance around the $13.50 price level.
Bank of America Corp (BAC) is not recommended at this time, holding a Dividend.com DARS™ Rating of 2.9 out of 5 stars.
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