A Technical Strategy for Bank of America Corporation (BAC)
- Jimmy Nichols
The financial services provider reported $0.48 EPS for the quarter, topping analysts' consensus estimates of $0.46 by $0.02.
The SMA200 of the stock is at 14.40%, SMA20 is 3.88%, while SMA50 is 5.71%. The Wealth Architects Llc holds 27,309 shares with $662,000 value, up from 11,395 last quarter. The stock increased 1.70% or $0.64 during the last trading session, reaching $38.18. About 127,373 shares traded or 94.92% up from the average. ArQule, Inc. (NASDAQ:ARQL) has declined 22.70% since December 2, 2016 and is downtrending.
Numeric Investors Llc increased Bank Amer Corp (BAC) stake by 45.04% reported in 2017Q2 SEC filing. More interesting news about Bank of America Corporation (NYSE:BAC) were released by: Bloomberg.com and their article: "Ex-Bank of America Trader Fined $79500 for Market Abuse" published on November 22, 2017 as well as Investorplace.com's news article titled: "Bank of America Corp's Rally Is Overdone" with publication date: November 28, 2017. The institutional investor held 24.90 million shares of the major banks company at the end of 2017Q2, valued at $604.02M, down from 26.68 million at the end of the previous reported quarter. The stock decreased 1.30% or $0.36 during the last trading session, reaching $27.81.
A total of 121.73 Billion shares exchanged at hands and its average trading volume is standing at 65.82 Million shares.
Bank of America (NYSE:BAC) last released its quarterly earnings results on Friday, October 13th. It has outperformed by 41.94% the S&P500. Teacher Retirement System Of Texas holds 1.12% in Bank of America Corporation (NYSE:BAC) or 6.68M shares. Therefore 67% are positive. Bank of America Corp has a 1-year low of $21.02 and a 1-year high of $28.72. Jupiter Asset Mgmt owns 2% invested in Bank of America Corporation (NYSE:BAC) for 2.37M shares. (NASDAQ:PFSW) earned "Buy" rating by Northland Capital on Thursday, September 21. The company was downgraded on Tuesday, April 4 by Citigroup. As per Monday, August 21, the company rating was upgraded by Wood. The firm has "Outperform" rating given on Thursday, September 10 by Wells Fargo. The company was upgraded on Friday, January 29 by CLSA. 265 shares valued at $13,242 were sold by Milton Miles S on Monday, June 12. The firm has "Buy" rating by Piper Jaffray given on Tuesday, May 30. The firm earned "Outperform" rating on Friday, January 29 by Credit Agricole. The firm earned "Overweight" rating on Wednesday, November 1 by JP Morgan. This represents a $0.48 annualized dividend and a yield of 1.71%. It is negative, as 79 investors sold BAC shares while 543 reduced holdings. Chelsea Counsel Co. raised its position in shares of Bank of America Corp by 6.9% in the first quarter. Pacific Alternative Asset Mgmt Ltd Llc holds 64,850 shares. Raymond James & Associate has 5.84M shares for 0.31% of their portfolio.
A number of equities analysts have issued reports on BAC shares. Financial Counselors Inc, Missouri-based fund reported 80,496 shares. Caisse De Depot Et Placement Du Quebec stated it has 6.83 million shares. The Company, through its banking and various non-bank subsidiaries, throughout the United States and in worldwide markets, provides a range of banking and non-bank financial services and products through four business segments: Consumer Banking, which comprises Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S. It also reduced Celgene Corp Com (NASDAQ:CELG) stake by 12,694 shares and now owns 125,389 shares. The company's revenue for the quarter was up 2.1% on a year-over-year basis. sell-side analysts predict that Bank of America will post 1.81 earnings per share for the current year. Palladium Prns Ltd owns 154,002 shares for 0.3% of their portfolio.
Analysts await PFSweb, Inc. For the full year, analysts expect earnings to decline -28.19% yoy to $1.07. They expect $0.48 earnings per share, up 9.09% or $0.04 from last year's $0.44 per share. BAC's profit will be $4.90B for 14.98 P/E if the $0.47 EPS becomes a reality.
Bank of America Corporation most recently reported earnings per share (EPS) of $0.48 for the September 2017 versus $0.41 in the same quarter previous year, representing 17% growth.
Investors sentiment decreased to 1.12 in 2017 Q2. The company P/S (price to Sales) ratio is 5.32, P/B (price to Book) ratio is 1.15, while its P/C (price to Cash) ratio stands at 0.45. The company has 10.46 Billion shares outstanding and 10.42 Billion shares were floated in market. 123 funds opened positions while 564 raised stakes. Greatmark Invest Prtnrs reported 2.78% stake. Salzhauer Michael holds 1.35% or 59,740 shares in its portfolio. Legal & General Gru Public Limited Com holds 50.80M shares or 1% of its portfolio. Caldwell And Orkin reported 74,500 shares. Moreover, Teton Inc has 0.25% invested in PFSweb, Inc. (NYSE:V) for 584 shares. Co Of Virginia Va, Virginia-based fund reported 61,247 shares. Inspirion Wealth Advisors Limited Liability Company owns 7,718 shares for 0.16% of their portfolio. The Company is a financial institution, serving individual consumers and others with a range of banking, investing, asset management and other financial and risk management products and services. It also upped Walgreens Boots Alliance Inc (Call) stake by 8.50 million shares and now owns 13.50M shares. The original version of this story can be read at https://www.thelincolnianonline.com/2017/12/01/mutual-of-america-capital-management-llc-increases-stake-in-bank-of-america-corp-bac.html. Park Circle Company has invested 0.01% in Bank of America Corporation (NYSE:BAC). Therefore 57% are positive.
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