Analysts who follow Bank of America Corp (BAC) on average expect it to rise 21.74% over the next twelve months. Those same analysts give the stock an average rating of Buy.
That average rating earns BAC an Analyst Ranking of 38, which means it ranks higher than 38 of stocks, based on data compiled by InvestorsObserver.
Why are Analyst Ratings Important?
Though analyst projections should not be your only resource when determining your position on a stock, it can be a very useful tool. Analysts follow sectors/industries in-depth and tend to know how local and global conditions tend to affect demand and prices. Many analysts even participate in conference calls where they can get information to better make sense of the numbers.
InvestorsObserver averages the ratings provided by analysts and then ranks their score as a percent against the market. This allows you to compare stocks in a more comprehensive fashion than with the typical buy/sell/hold ranking.
What's Happening With Bank of America Corp Stock Today?
Bank of America Corp (BAC) stock is trading at $22.94 as of 3:16 PM on Tuesday, Jul 7, a drop of -$0.72, or -3.04% from the previous closing price of $23.66. The stock has traded between $22.93 and $23.39 so far today. Volume today is below average. So far 38,146,041 shares have traded compared to average volume of 81,949,569 shares.
