Bank of America Corp (NYSE:BAC) stock trading up


Dallas, Texas 08/14/2013 (Financialstrend) – Analysts appear to have maintained a “hold” rating on the stock of  Bank of America Corp (NYSE:BAC) in the recent past. In a research note issued recently to the investors, the analysts at The Street had reiterated their hold rating for this banking company and had commented that the company presents strength in many areas such as higher level of net income, strong surge in the earnings reported for the quarter and increase in the profit margins for the company. In the recently released financial results, Bank of America Corp. reported earnings at $0.32 per share, which was 7 cents higher than the analyst estimates for this bank holding company.

It had been announced that the average analyst estimates on the earnings per share for the bank for the fiscal year is at $0.92 per basic and diluted share. Further, Bank of America presently has an average hold rating given by the equity researchers in the Wall Street with the price target fixed up for the shares of the company at $13.98 per share. The stock had recently been gaining effectively to touch higher level of prices.

Shares of Bank of America Corporation had gained by 0.69% on Tuesday to close at $14.51 per share for the day, with a trading volume of 75.69 million shares. The stock had presented intraday price movements varying from low of $14.33 to high of $14.62 per share. Presently, the company recorded a low price of $7.68 and high price of $15.03 per share for the past 52 weeks. The stock holds around 10.74 million shares standing out in the market with the investors with an institutional holding of 59%. The average trading volume of the stock over the past one month of trading is reported to be at 105.01 million shares per day.