After Hitting 9-Year High, Vetr Turns Bearish On Bank Of America

The Vetr crowd on Wednesday downgraded its rating on Bank of America Corporation BAC from 3 stars (Hold), issued 19 days ago, to 2.5 stars (Sell). Crowd sentiment at the time of the downgrade was edging positive, with 58 percent of Vetr user ratings bullish.

The downgrade comes less than two weeks out from Bank of America's third quarter earnings report, which analysts expect will show the bank gaining more than $2 billion in revenue over last year's Q3. The stock had a healthy uptrend in the month running up to the report, gaining more than 12 percent over the period and reaching a nine-year high of $25.95.

Bank of America closed Wednesday's session slightly down at $25.71.

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Currently, the Vetr crowd's average price target on Bank of America is down at $25.08, which is still above the average analyst price target of $22.15. Bank of America Corporation is a popular stock on Vetr as more than 3 percent of users are holding BAC in their watch-lists.