<div id="readability-page-1"><p><span>Bank of America (NYSE:BAC)</span> had its price objective cut by equities research analysts at Piper Sandler  from $45.00 to $42.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a &#34;neutral&#34; rating on the financial services provider's stock. Piper Sandler's target price would indicate a potential upside of 11.79% from the company's previous close.</p><div><p><span></span><span>Get <strong>Bank of America</strong> alerts:</span></p></div><ul><li>First Solar Stock: What's Fueling the Early April Rally?</li></ul><p>BAC has been the subject of a number of other reports. Cfra Research boosted their price target on shares of Bank of America to $47.00 and gave the company a &#34;buy&#34; rating in a research report on Wednesday. Baird R W upgraded Bank of America from a &#34;hold&#34; rating to a &#34;strong-buy&#34; rating in a research report on Friday, March 7th. Oppenheimer raised their price target on Bank of America from $54.00 to $55.00 and gave the company an &#34;outperform&#34; rating in a report on Friday, January 17th. Evercore ISI cut their price objective on Bank of America from $51.00 to $48.00 and set an &#34;outperform&#34; rating for the company in a report on Tuesday, April 1st. Finally, Barclays decreased their price objective on shares of Bank of America from $58.00 to $54.00 and set an &#34;overweight&#34; rating on the stock in a research report on Wednesday. One investment analyst  has rated the stock with a sell rating, six have given a hold rating, sixteen have issued  a buy rating and three have assigned  a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of &#34;Moderate Buy&#34; and an average price target of $47.25.</p><p><b>View Our Latest Stock Report on Bank of America</b></p><h2>Bank of America Stock Performance</h2><ul><li>Intel’s Big Bet on 18A: Will Lip-Bu Tan’s Vision Pay Off?</li></ul><p>NYSE:BAC traded down $0.42 on Wednesday, reaching $37.57. 13,445,851 shares of the company's stock were exchanged, compared to its average volume of 39,294,915. The firm has a market cap of $285.64 billion, a price-to-earnings ratio of 11.64, a P/E/G ratio of 1.21 and a beta of 1.24. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a fifty day simple moving average of $41.85 and a 200-day simple moving average of $43.66. Bank of America has a 52 week low of $33.07 and a 52 week high of $48.08. </p><p>Bank of America (NYSE:BAC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.10. The firm had revenue of $27.37 billion for the quarter, compared to the consensus estimate of $26.83 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%.  As a group, sell-side analysts predict that  Bank of America will post 3.7 earnings per share for the current year. </p><h2>Hedge Funds Weigh In On Bank of America</h2><ul><li>From Trading to Checking Accounts: Robinhood's Big Bet on Banking</li></ul><p>Hedge funds have recently made changes to their positions in the business. Compagnie Lombard Odier SCmA purchased a new stake in  Bank of America in the first quarter worth $66,759,000.  Ferguson Wellman Capital Management Inc. increased its stake in shares of  Bank of America by 43.4% in the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 20,581 shares of the financial services provider's stock worth $859,000 after acquiring an additional 6,226 shares in the last quarter.  FMB Wealth Management purchased a new position in shares of  Bank of America during the first quarter valued at approximately $363,000.  Simon Quick Advisors LLC boosted its holdings in  Bank of America by 11.8% in the first quarter. Simon Quick Advisors LLC now owns 445,157 shares of the financial services provider's stock worth $18,576,000 after acquiring an additional 47,036 shares in the last quarter.  Finally, Baker Ellis Asset Management LLC grew its position in  Bank of America by 11.9% during the 1st quarter. Baker Ellis Asset Management LLC now owns 16,235 shares of the financial services provider's stock valued at $677,000 after purchasing an additional 1,730 shares during the last quarter. 70.71% of the stock is owned by hedge funds and other institutional investors. </p><h2>About Bank of America</h2> (Get Free Report)<p>Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. It operates in four segments: Consumer Banking, Global Wealth &amp; Investment Management (GWIM), Global Banking, and Global Markets.</p><h2>Recommended Stories</h2><ul><li>Five stocks we like better than Bank of America</li><li>Industrial Products Stocks Investing </li><li>Viking Therapeutics Stock Pops But Struggles to Hold Gains</li><li>What Are Growth Stocks and Investing in Them </li><li>Qualcomm Stock Just Earned a Fresh Buy Rating—Get Excited</li><li>What Do S&amp;P 500 Stocks Tell Investors About the Market? </li><li>Meta Stock Holds Upside Potential as Analysts Cut Price Targets</li></ul><p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/RatingsAndPriceTargetChart.ashx/query-UHJlZml4PU5ZU0UmU3ltYm9sPUJBQw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="650" height="330" original-src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/RatingsAndPriceTargetChart.ashx/query-UHJlZml4PU5ZU0UmU3ltYm9sPUJBQw"/></p><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.</em></p><h2>Should You Invest $1,000 in Bank of America Right Now?</h2><p>Before you consider Bank of America, you'll want to hear this.</p><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Bank of America wasn't on the list.</p><p>While Bank of America currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.</p><p>View The Five Stocks Here</p>                  </div>

<p>Piper Sandler has lowered its price target for Bank of America (NYSE:BAC) from $45.00 to $42.00, maintaining a "neutral" rating. This adjustment suggests a potential upside of 11.79% from the previous close. Other analysts have varied opinions, with some raising their targets and ratings. Currently, the stock has an average rating of "Moderate Buy" and a price target of $47.25. Bank of America recently reported earnings of $0.90 per share, exceeding estimates, and has a market cap of $285.64 billion.</p>

- Piper Sandler reduced Bank of America's price target from $45.00 to $42.00, maintaining a "neutral" rating, indicating an 11.79% potential upside.  
- Other analysts have varied opinions, with Cfra Research setting a target of $47.00 and a "buy" rating, while Barclays lowered their target to $54.00.  
- Bank of America reported $0.90 earnings per share for the last quarter, exceeding estimates, and has a current average rating of "Moderate Buy" with a price target of $47.25.

Piper Sandler Has Lowered Expectations for Bank of America (NYSE:BAC) Stock Price