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profishingrods.com October 19, 2017


Bank of America earnings boosted by higher interest rates

13 October 2017, 05:17 | Joann Bryant

Another disappointment for Wells Fargo

Wells Fargo

Vetr raised shares of Bank of America Corporation from a "buy" rating to a "strong-buy" rating and set a $26.59 price objective for the company in a research report on Wednesday, August 30th. This repurchase authorization authorizes the financial services provider to repurchase up to 4.8% of its shares through open market purchases.

Oakmont Corp decreased Bank Amer Corp (BAC) stake by 19.27% reported in 2017Q2 SEC filing. BidaskClub downgraded Citigroup from a "buy" rating to a "hold" rating in a research note on Wednesday, July 12th. Tarbox Family Office Inc. boosted its position in Bank of America Corporation by 0.4% in the 2nd quarter.

Analysts have given a mean recommendation of 2.10 on this stock (A rating of less than 2 means buy, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range). The stock presently has an average rating of Buy and an average target price of $24.88. Bank of America said the slowdown was "driven by less favorable market conditions across credit-related products, as well as lower volatility in rates products". Moving toward the technical facts, its current distance from 20-Day Simple Moving Average is 0.53% and standing 3.87% away from 50-Day Simple Moving Average while traded up 6.81% from 200-Day Simple Moving Average.

At the moment 31 analysts are watching Bank of America Corporation (NASDAQ:BAC), 8 rate it "Buy", 15 "Outperform", 7 "Underperform", 0 "Sell", while 1 "Hold". The firm has a market cap of $267.64 billion, a PE ratio of 15.16 and a beta of 1.25.

On Thursday, Shares of Bank of America Corporation (NYSE: BAC) expressed a change of -1.47% and closed its trade at $25.45. Analysts review historical return data when trying to predict future returns or to estimate how a security might react to a particular situation, such as a drop in consumer demand.

Revenues edged up 0.9 percent to $21.8 billion.




During the same quarter a year ago, the company earned $0.41 earnings per share. Earnings per share rose to 48 cents from 41 cents. If you are accessing this piece of content on another website, it was illegally copied and reposted in violation of global trademark & copyright laws. Bank of America had 86 analyst reports since July 21, 2015 according to SRatingsIntel.

The company said its bottom line totaled $5.12 billion, or $0.48 per share. The company has its outstanding shares of 10.38B. The ex-dividend date of this dividend was Wednesday, August 30th. Dimensional Fund Advsr LP has invested 0.64% in Bank of America Corp (NYSE:BAC). Pennsylvania-based Brick Kyle has invested 0.84% in Bank of America Corp (NYSE:BAC).

In other news, CEO Francisco Aristeguieta sold 40,000 shares of the company's stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $24.16, for a total value of $2,096,194.08.

Now insiders hold 15,342,468 shares in the business which makes up 0.15% of shares. M Holdings Securities Inc. boosted its holdings in shares of Bank of America Corporation by 72.9% during the first quarter. Vident Investment Advisory Limited Liability Co owns 0.03% invested in Bank of America Corp (NYSE:BAC) for 13,725 shares. The stock decreased 1.47% or $0.38 during the last trading session, reaching $25.45. Ltd. now owns 1,530 shares of the financial services provider's stock worth $102,000 after acquiring an additional 1,030 shares in the last quarter.

The company's stock rose 0.7 percent in the premarket following the release of the results.



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