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.

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.

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