January 14, 2018 – By Richard Conner
Investors sentiment decreased to 1.04 in Q3 2017. Its down 0.08, from 1.12 in 2017Q2. It is negative, as 68 investors sold Bank of America Corporation shares while 569 reduced holdings. 117 funds opened positions while 547 raised stakes. 6.91 billion shares or 9.01% more from 6.34 billion shares in 2017Q2 were reported. Legg Mason Asset (Japan) Limited Com accumulated 1.08% or 72,000 shares. Wilbanks Smith And Thomas Asset Mgmt Ltd. Liability is 0.09% of its portfolio in Bank of America Corporation (NYSE: BAC). Wellington Management Gru Llp holds 1.03% in Bank of America Corporation (NYSE: BAC) gold 177.69 million shares. 1.17 million are owned by Madison Invest. Benin Corporation reported 24,180 shares stake. Nokota Mngmt Ltd Partnership holds 2.79% of its portfolio in Bank of America Corporation (NYSE: BAC) for 4.50M shares. Harris Associates Ltd. Partnership reported 92.68 million shares. 11,015 were reported by Timucuan Asset Mgmt Fl. Capital Victory Capital Management Inc. accumulated 1.40M shares. Natixis holds 4.32M shares. Delta Asset Mngmt Lc Tn holds 0.04% or 10,585 shares in its portfolio. Mondrian Investment Prns Ltd reported 0% of its portfolio in Bank of America Corporation (NYSE: BAC). Northern reported 112.82 million shares. Synovus has invested 0.29% in Bank of America Corporation (NYSE: BAC). Rathbone Brothers Public Limited Co reported 0.17% stake.
Since August 10, 2017, it was 0 insider purchases, and 1 sale for $ 2.10 million activity.
The stock of Bank of America Corporation (NYSE: LAC) hit a new 52-week high and has $ 33.37 target or 7.00% today’s $ 31.19 share price. The 7 months bullish chart shows low risk for the $ 325.33B company. The 1-year high reported on Jan, 14 by Barchart.com . If the $ 33.37 will be worth $ 22.77 billion more. The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.
The stock increased 1.73% or $ 0.53 during the last trading session, reaching $ 31.19. About 66.37M shares traded. Bank of America Corporation (NYSE: BAC) has risen 58.64% since January 14, 2017 and is uptrending. It has outperformed by 41.94% the S & P500.
Analysts await Bank of America Corporation (NYSE: LAC) to report earnings on January, 17 before the open. They expect $ 0.46 earnings per share, up 15.00% or $ 0.06 from last year’s $ 0.4 per share. BAC’s profit will be $ 4.80 billion for 16.95 P / E if the $ 0.46 EPS becomes a reality. After $ 0.48 actual earnings per share reported by Bank of America Corporation for the previous quarter, Wall Street now forecast -4.17% negative EPS growth.
Bank of America Corporation (NYSE: BAC) Ratings Coverage
Among 32 analysts covering Bank of America ( NYSE: BAC ), 21 have Buy rating, 0 Sell and 11 Hold. Therefore 66% are positive. Bank of America has $ 36.0 highest and $ 15 lowest target. $ 25.62’s average price is -17.86% below $ 31.19 stock price. Bank of America had 103 analysts reports since July 21, 2015 according to SRatingsIntel. On Friday, April 7 the stock rating is maintained by Wood with “Outperform”. The firm has “Neutral” rating given on Tuesday, November 15 by Guggenheim. The stock has “Buy” rating by RBC Capital Markets on Wednesday, August 30. The rating was upgraded by Vetr on Monday, August 24 to “Buy”. The rating is maintained by Oppenheimer on Saturday, September 5 with “Outperform”. The firm has “Hold” rating by Societe Generale given on Tuesday, September 13. The firm has “Overweight” rating given on Wednesday, December 21 by Atlantic Securities. The company was maintained on Tuesday, August 25 by Deutsche Bank. The stock of Bank of America Corporation (NYSE: BAC) earned “Buy” rating by Berenberg on Wednesday, July 13.
More notable recent Bank of America Corporation (NYSE: BAC) news were published by: Investorplace.com which released: “Friday’s Vital Data: Bank of America Corp. (BAC), Micron Technology, Inc. (MU … “on January 12, 2018, also Bizjournals.com with their article:” Banking Roundup: Bank of America, Wells Fargo … 2018 banking outlook “published on December 27, 2017, Investorplace.com published: “Even After Rally, Bank of America Corp. Is not Overvalued” on December 20, 2017. More interesting news about Bank of America Corporation (NYSE: BAC) was released by: Finance.Yahoo.com and their article : “Bank of America Warrant Holders Could Reap 4000 Percent Returns” published on January 13, 2018 Forbes.com’s news article titled: “Earnings Preview: What To Expect From Bank Of America On Wednesday” with publication date: January 13, 2018.
Bank of America Corporation, through its subsidiaries, provides banking and financial services and products for individual consumers, small and medium-market businesses, institutional investors, large firms, and governments worldwide. The company has market cap of $ 325.33 billion. It operates through four divisions: Consumer Banking, Global Wealth & Investment Management, Global Banking, and Global Markets. It has a 17.85 P / E ratio. The Consumer Banking segment offers traditional and money market savings accounts, CDs and IRAs, noninteresting and interest-bearing checking accounts, and investment accounts and products, debit cards, mortgages and home equity loans, and direct and indirect loans.
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