Barclays Remains a Buy on Bank of America (BAC)

In a report released today, Jason Goldberg from Barclays maintained a Buy rating on Bank of America, with a price target of $71.00.

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According to TipRanks, Goldberg is a 5-star analyst with an average return of 13.7% and a 69.94% success rate. Goldberg covers the Financial sector, focusing on stocks such as JPMorgan Chase, M&T Bank, and PNC Financial.

Currently, the analyst consensus on Bank of America is a Strong Buy with an average price target of $59.61.

Based on Bank of America’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $49.69 billion and a net profit of $7.53 billion. In comparison, last year the company earned a revenue of $46.97 billion and had a net profit of $6.67 billion

Based on the recent corporate insider activity of 73 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BAC in relation to earlier this year. Last month, Bernard A Mensah, the Intl. President of BAC sold 94,000.00 shares for a total of $4,412,360.00.