Investors Buy Shares of Bank of America Corporation (BAC) on Weakness

25 Novembre, 2017, 01:02 | Auteur: Auguste Feret
  • Investors Buy Shares of Bank of America Corporation (BAC) on Weakness

The Earnings to Price yield of Bank of America Corporation (NYSE:BAC) is 0.066988. About 14.27M shares traded. Bank of America Corp (NYSE:BAC) has risen 58.64% since November 23, 2016 and is uptrending. It has outperformed by 41.94% the S&P500.

Steadfast Capital Management Lp decreased Bank Amer Corp (BAC) stake by 11.03% reported in 2017Q2 SEC filing. Burt Wealth Advisors sold 4,294 shares as Bank Of America Corp (BAC)'s stock declined 6.00%. The Provise Management Group Llc holds 88,084 shares with $4.77 million value, down from 96,618 last quarter. Walt Disney now has $158.18B valuation. The relative volume of the stock is 0.59. Howe & Rusling Inc. now owns 165,555 shares of the financial services provider's stock valued at $3,905,000 after buying an additional 162,553 shares in the last quarter. It has underperformed by 8.03% the S&P500. Coldstream Capital Mngmt invested in 0.01% or 10,000 shares. Its up 0.17, from 0.92 in 2017Q1.

Investors sentiment increased to 2.07 in 2017 Q2. 31 funds opened positions while 18 raised stakes. Schulhoff & Co Incorporated reported 3,995 shares. (NASDAQ:PXLW). Legal And General Grp Inc Public Limited Company stated it has 4,270 shares or 0% of all its holdings. It increased, as 9 investors sold Pixelworks, Inc. shares while 9 reduced holdings. Moreover, Prudential Financial has 0% invested in Bridgepoint Education Inc (NYSE:BPI). Cetera Advisor invested in 0.15% or 134,211 shares. Becker Capital Management holds 16,158 shares. Miller Inv Limited Partnership accumulated 37,675 shares. Kidder Stephen W invested in 0.13% or 3,266 shares. Finally, Hexavest Inc. bought a new position in shares of Bank of America Corporation in the second quarter worth approximately $63,918,000. Chicago Equity Prtnrs Ltd holds 1.29% or 1.97M shares in its portfolio. Salzhauer Michael owns 1.46M shares for 16.33% of their portfolio.

Bank of America Corporation (NYSE:BAC) last posted its quarterly earnings results on Friday, October 13th. Therefore 13% are positive. The company's revenue was up 2.1% on a year-over-year basis. sell-side analysts predict that Bank of America Corporation will post 1.81 EPS for the current fiscal year. BidaskClub lowered shares of Bank of America Corporation from a "strong-buy" rating to a "buy" rating in a research report on Thursday, November 9th. Gibraltar Cap Mngmt Inc has invested 5.18% in Bank of America Corp (NYSE:BAC). FBR Capital has "Buy" rating and $124 target. The firm has "Outperform" rating given on Tuesday, October 6 by Oppenheimer. Reliance Trust Co. of DE boosted its stake in Bank of America Corp by 10.9% in the first quarter. On Monday, August 24 the stock rating was upgraded by KBW to "Outperform". Renaissance Macro Securities LLC maintained the stock with "Buy" rating in Sunday, July 23 report. The company was maintained on Friday, August 28 by Cowen & Co. The company was maintained on Wednesday, June 14 by RBC Capital Markets.

Investors Buy Shares of Bank of America Corporation (BAC) on Weakness

Private Asset Management Inc increased Under Armour Inc Cl C stake by 16,316 shares to 112,148 valued at $2.26 million in 2017Q2. It also upped Schwab Us Small Cap Etf (SCHA) stake by 13,274 shares and now owns 143,630 shares. Pacwest Bancorp (NASDAQ:PACW) was raised too. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-four have given a buy rating and three have issued a strong buy rating to the stock. Therefore 33% are positive. Finally, Berenberg Bank cut Bank of America Corp from a "buy" rating to a "hold" rating and raised their target price for the company from $15.00 to $22.00 in a research report on Monday, April 24th. BMO Capital Markets reissued a "market perform" rating and issued a $29.00 target price (up from $27.00) on shares of Bank of America Corporation in a research note on Monday, October 16th. The company has a market capitalization of $278,080.06, a price-to-earnings ratio of 15.23, a price-to-earnings-growth ratio of 1.84 and a beta of 1.31. The stock of Bank of America Corp (NYSE:BAC) earned "Buy" rating by Deutsche Bank on Tuesday, August 25. The monthly performance exhibited a rate of -1.58% with an annual performance rate of 33.70%. The firm has "Hold" rating by Robert W. Baird given on Friday, September 29. The firm has "Hold" rating given on Thursday, December 1 by Standpoint Research. The rating was maintained by Jefferies with "Buy" on Friday, July 7. The rating was maintained by CLSA with "Outperform" on Friday, September 23. Investors of record on Friday, December 1st will be paid a dividend of $0.12 per share. For the most recent quarter, quick ratio was 0, current ratio was 0, LT Debt/Equity ratio was 0.88 and Total Debt/Equity ratio stands at 1.79, while Payout ratio is 0.187. It is negative, as 79 investors sold BAC shares while 543 reduced holdings.

Institutional ownership refers to the ownership stake in a company that is held by large financial organizations, pension funds or endowments. Pzena Invest Mgmt accumulated 20.49 million shares.

Starboard Value Lp holds 21.23% of its portfolio in Perrigo Company plc Ordinary Shares for 9.64 million shares. Blair William Il owns 22,569 shares for 0% of their portfolio. First Interstate National Bank reported 30,096 shares. Tompkins Financial holds 0% or 500 shares. "The firm has "Mkt Perform" rating by Bruyette & Woods" given on Monday, August 24. Montag A accumulated 385,764 shares. GVO Asset Management Ltd acquired a new stake in Bank of America Corp during the first quarter valued at approximately $10,201,000.

Bank of America Corporation is a bank holding company and a financial holding company.

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