J.P. Morgan Maintains a Buy Rating on Bank of America (BAC), Sets a $51 PT

Bank of America Corporation (NYSE:BAC) is one of the top most profitable NYSE stocks to buy now. In a report released on August 1, Vivek Juneja from J.P. Morgan maintained a Buy rating on Bank of America Corporation (NYSE:BAC), setting a price target of $51.00.

Bank of America’s (BAC) Strong Buy Status Driven by Capital Strength and Payout Growth

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In other news, Bank of America Corporation (NYSE:BAC) announced on July 23 that its Board of Directors declared a regular quarterly cash dividend on common stock of $0.28 per share, up $0.02 from the previous quarter. The dividend is payable on September 26 to shareholders of record as of September 5.

Bank of America Corporation (NYSE:BAC) also reported that its Board authorized a new $40 billion common stock repurchase program, effective August 1. The new program would replace the company’s current program expiring on that date.

Bank of America Corporation (NYSE:BAC) is a bank and financial holding company that operates in the Consumer Banking, Global Wealth and Investment Management (GWIM), Global Banking, and Global Markets segments.

While we acknowledge the potential of BAC to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than BAC and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.