Bank of America Corp. (NYSE:BAC), have implemented quite a few changes in the banking systems and procedures. The bank recently managed to reduce the core expenses by introducing expense control measures within the slower markets. This is despite the pressure it received from the CCAR and new investments. Because of these measures, the bank was able to improve the business environment around. In the Q3 reports, a reduction in the core expenses was observed. This is the main reason why analysts at UBS have given BAC stocks a buy rating. The current stock price is about $15.64, and the sell side analysts have given it a 12 month target price of $20.
There was a tremendous effect on the shares of the bank after this analyst rating. The firm opened at $16, and closed at $16.15 gaining 0.03 points which is about 0.19%. The current earning per share recorded by the company is 1.34 and the P/E ratio for the firm is 12.02.
The analysts have estimated a rise in the EPS from $1.59 to $1.65 for the FY16. This will majorly occur due to the reduced provisional expenses that have been posed by the company. There will be a gain in the estimates for FY17 too majorly because there has been an observed reduction in the estimated core expenses. The EPS estimated has reduced by 7% for Q4, but the movement for EPS will be upward in the coming times.
Bank of America Corporation is a bank holding company. The company, through its auxiliaries, operates through Consumer and Business Banking; Consumer Real Estate Services; Global Wealth and Investment Administration; Global Banking; Global Markets; and Other segments. Its Consumer and Business Banking segment offers a range of deposits and consumer lending services.
Morgan Stanley (NYSE:MS), declared the cash dividend of $0.15 on 19th October 2015. The record data has been fixed for 30th October. Based on the share price, the dividend yield has been approximately translated to 1.7673% which will be released on 13th November. As per record data, the company insiders own about 0.37% shares, of which institutional investors own 79.75% shares. The new percentage change in insider ownership is recorded at -14.3%.
The 50 day moving average, and the 200 day moving average for the firm stands at $33.03 and $36.82 respectively. The shares for the firm have rallied above the one year high by 1.89%. On Monday, the markets for the firm opened at $3192, went on to achieve a high of $32.33 before closing at $32.31. The analysts have given a short term price target for the firm which is recorded at $40.89. This mean estimate has been released by 9 analysts. The higher and lower price target are respectively recorded at $52 and $35 respectively.
Morgan Stanley, a financial holding company, provides various financial products and services to corporations, governments, financial institutions, and individuals worldwide. The companys Institutional Securities segment offers financial advisory services on mergers and acquisitions, divestitures, joint ventures, corporate restructurings, recapitalizations, spin-offs, exchange offers, leveraged buyouts, takeover defenses, and shareholder relations, in addition to provides capital raising and corporate lending services.
