Bank of America Can't Bank on Earnings Gains

Taxis drive past a Bank of America branc

Taxis drive past a Bank of America branc

About 34,832 shares traded. It has outperformed by 25.88% the S&P500.

Strategic Wealth Advisors Groupinc decreased its stake in Bank Amer Corp (BAC) by 9.83% based on its latest 2017Q4 regulatory filing with the SEC.

Stillwater Investment Management Llc increased Bank Of America Corp (BAC) stake by 52% reported in 2017Q4 SEC filing. The institutional investor held 457,175 shares of the major banks company at the end of 2017Q4, valued at $13.50M, up from 442,175 at the end of the previous reported quarter.

Bank of America also said it is expanding its national footprint into new markets, with locations in Cincinnati, Cleveland, Columbus, Denver, Indianapolis, Lexington, Minneapolis-St. The stock decreased 1.29% or $0.76 during the last trading session, reaching $58.07.

During morning trading, BofA's shares rose as high as$30.25 before falling to a low of $29.63. Bank of America Corporation (NYSE:BAC) has risen 28.18% since April 15, 2017 and is uptrending. The Dow is up 181.46 points or 0.7 percent at 24,541.60, the Nasdaq is up 24.71 points or 0.4 percent at 7,131.36 and the S&P 500 is up 14.58 points or 0.6 percent at 2,670.88. (NYSE:BAC) joined other big U.S. banks in reporting impressive results in the first quarter, which surpassed the expectations of Wall Street analysts. Therefore 77% are positive. Zacks Investment Research raised Bank of America from a "hold" rating to a "buy" rating and set a $33.00 target price on the stock in a report on Tuesday, January 2nd.


Following the Bank of America earnings release for Q1 2018, the firm's stock climbed almost 1% in premarket trading, rising as high as $30.08 per share ahead of the bell. Keefe Bruyette & Woods maintained the stock with "Buy" rating in Tuesday, June 6 report. The firm has "Neutral" rating given on Wednesday, November 16 by Robert W. Baird. ValuEngine upgraded Bank of America from a "hold" rating to a "buy" rating in a report on Friday, February 2nd. Bank of America now has a consensus rating of "Buy" and an average price target of $30.97. The firm earned "Buy" rating on Tuesday, December 12 by Keefe Bruyette & Woods. Goldman Sachs and Morgan Stanley, which both report results later this week, are higher in early trade.

Big Money Sentiment increased to 1.19 in 2017 Q4. That's change of 0.15, from 2017Q3's 1.04. It is positive, as 66 investors sold BAC shares while 561 reduced holdings. 162 funds amassed holdings and 585 increased holdings. Stillwater Investment Mngmt Ltd Liability Company reported 158,004 shares. BMO Capital Markets reiterated a "hold" rating and issued a $31.00 price target on shares of Bank of America in a report on Monday, January 8th. Missouri-based Confluence Investment Ltd Liability has invested 0% in Bank of America Corporation (NYSE:BAC). Cambridge Investment has 0.28% invested in Bank of America Corporation (NYSE:BAC). Bank of New York Mellon Corp now owns 104,558,690 shares of the financial services provider's stock valued at $3,086,572,000 after acquiring an additional 5,720,403 shares during the period. Ngam LP invested in 1.32 million shs. Ar Asset Mgmt has 0.65% invested in Bank of America Corporation (NYSE:BAC).

Consumer banking led the way for the US's third-largest bank by assets, with average deposits rising 3% to an all-time high of $1.3 trillion.

Diversified Com accumulated 13,798 shares or 0.02% of the stock. Btr stated it has 23,454 shares. (NYSE:THO) to report earnings on June, 4. The financial services provider reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.03. BAC's profit would be $6.03B giving it 12.63 P/E if the $0.59 EPS is correct.

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