November 24, 2016 - By Clifton Ray · 0 Comments
Bank Of America Corp (NYSE:BAC) institutional sentiment increased to 1.01 in Q2 2016. Its up 0.11, from 0.9 in 2016Q1. The ratio improved, as 565 active investment managers increased and started new holdings, while 630 reduced and sold their positions in Bank Of America Corp. The active investment managers in our partner’s database now own: 6.08 billion shares, down from 6.09 billion shares in 2016Q1. Also, the number of active investment managers holding Bank Of America Corp in their top 10 holdings decreased from 94 to 86 for a decrease of 8. Sold All: 101 Reduced: 529 Increased: 482 New Position: 83.
Bank of America Corporation is a bank holding and financial holding company. The company has a market cap of $210.42 billion. The Firm is a financial institution, serving individual consumers, small- and middle-market businesses, institutional investors, firms and governments with various banking, investing, asset management and other financial and risk management services and products. It has a 15.25 P/E ratio.
The stock increased 1.38% or $0.28 on November 23, hitting $20.56. Bank of America Corp (NYSE:BAC) has risen 36.07% since April 22, 2016 and is uptrending. It has outperformed by 30.66% the S&P500.
Analysts await Bank of America Corp (NYSE:BAC) to report earnings on January, 13 before the open. They expect $0.38 earnings per share, up 35.71% or $0.10 from last year’s $0.28 per share. BAC’s profit will be $3.89 billion for 13.53 P/E if the $0.38 EPS becomes a reality. After $0.41 actual earnings per share reported by Bank of America Corp for the previous quarter, Wall Street now forecasts -7.32% negative EPS growth.
According to Zacks Investment Research, “Bank of America Corp. is one of the world’s leading financial services companies. Bank of America provides individuals, small businesses and commercial, corporate and institutional clients across the United States and around the world new and better ways to manage their financial lives. The company enables customers to do their banking and investing whenever, wherever and however they choose.”
Geduld E E holds 43.48% of its portfolio in Bank of America Corp for 2.49 million shares. Daily Journal Corp owns 2.30 million shares or 27.27% of their US portfolio. Moreover, Theleme Partners Llp has 20.38% invested in the company for 20.43 million shares. The Iowa-based Boyle Capital Management Llc has invested 19.47% in the stock. Quinn Opportunity Partners Llc, a New York-based fund reported 2.66 million shares.#img1#
Insider Transactions: Since January 1, 0001, the stock had 2 insider purchases, and 1 sale for $11.52 billion net activity.
Ratings analysis reveals 52% of Bank of America’s analysts are positive. Out of 23 Wall Street analysts rating Bank of America, 12 give it “Buy”, 0 “Sell” rating, while 11 recommend “Hold”. The lowest target is $15 while the high is $21. The stock’s average target of $17.89 is -12.99% below today’s ($20.56) share price. BAC was included in 47 notes of analysts from July 21, 2015. KBW upgraded Bank of America Corp (NYSE:BAC) rating on Monday, August 24. KBW has “Outperform” rating and $20 price target. The stock of Bank of America Corp (NYSE:BAC) has “Buy” rating given on Tuesday, July 19 by Citigroup. The firm has “Outperform” rating by Oppenheimer given on Saturday, September 5. The company was downgraded on Monday, May 16 by Wood. The stock has “Buy” rating given by Nomura on Tuesday, September 8. The company was upgraded on Friday, January 29 by CLSA. Bruyette & Woods” upgraded Bank of America Corp (NYSE:BAC) rating on Monday, August 24. Bruyette & Woods” has “Mkt Perform” rating and $20.0 price target. The firm has “Outperform” rating by Oppenheimer given on Tuesday, October 6. As per Tuesday, November 15, the company rating was downgraded by Guggenheim. As per Monday, May 16, the company rating was downgraded by Keefe Bruyette & Woods.
Bank of America Corporation, incorporated on July 31, 1998, is a bank holding firm (BHC) and a financial holding company. The Firm is a financial institution, serving individual consumers, small- and middle-market businesses, institutional investors, firms and governments with a range of banking, investing, asset management and other financial and risk management services and products. The Company’s divisions include Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, Global Markets, Legacy Assets & Servicing (LAS) and All Other. Through its banking and various nonbank subsidiaries throughout the United States and international markets, the Company provides a range of banking and nonbank financial services and products.
More notable recent Bank of America Corp (NYSE:BAC) news were published by: Investorplace.com which released: “Wednesday’s Vital Data: Bank of America Corp (BAC), Apple Inc. (AAPL) and AT&T …” on November 23, 2016, also Investorplace.com with their article: “Bank of America Corp (BAC) Stock Is the Best Bet in the Sector” published on November 22, 2016, Bloomberg.com published: “BofA Trader Says He Had Panic Attack After Boss’s ‘Abuse'” on November 22, 2016. More interesting news about Bank of America Corp (NYSE:BAC) were released by: Investorplace.com and their article: “Bank of America Corp (BAC) Stock: Is the Trump Boost Over?” published on November 17, 2016 as well as Wsj.com‘s news article titled: “Justice Department ‘Hustle’ Case Against Bank of America Dies” with publication date: November 22, 2016.
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By Clifton Ray