Bank of America Profit Climbs, Driven by Higher Interests Rates

Posted October 14, 2017

Vetr upgraded shares of Bank of America Corporation (NYSE:BAC) from a sell rating to a hold rating in a research note published on Monday.

Now the stock price is moving -16.03% off from the highest level of twelve months and +0.00% above from twelve months low. The stock of Bank of America Corp (NYSE:BAC) has "Market Perform" rating given on Monday, May 16 by Keefe Bruyette & Woods.

Quarterly profit at the second-largest USA bank by assets rose 13% from $4.96 billion a year earlier. BidaskClub upgraded Bank of America Corporation from a sell rating to a hold rating in a research report on Friday, August 4th. Robert W. Baird maintained the shares of BAC in report on Friday, August 25 with "Hold" rating. Finally, Royal Bank Of Canada reaffirmed a "buy" rating and set a $26.00 target price on shares of Bank of America Corporation in a research report on Thursday, July 20th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock now has an average rating of Buy and an average target price of $24.88. Citigroup initiated the shares of ANTM in report on Friday, October 2 with "Buy" rating. For the income oriented investors, the existing payout ratio will be observed closely, providing a valuable insight into Bank of America Corporation's dividend policy.

Bank of America on Friday reported $5.6 billion in third-quarter profit, an increase of 13 percent for the Charlotte-based bank from the same period a year ago. The Anchor Capital Advisors Llc holds 291,772 shares with $47.25M value, down from 300,115 last quarter. The firm had revenue of $22.80 billion for the quarter, compared to analysts' expectations of $21.84 billion. Bank of America Corporation had a return on equity of 8.11% and a net margin of 20.28%. Company's sales growth for the past five years is valued at -5.10%, leading it to the present-day share price of $25.49. -Earnings Growth (Y-o-Y): 15.1% -EPS (Q3): $0.48 vs. $0.41 past year. First National Bank accumulated 293,926 shares. The Proffitt & Goodson Inc holds 56,777 shares with $1.38M value, down from 79,052 last quarter. If you are viewing this news story on another domain, it was illegally stolen and republished in violation of U.S. and worldwide copyright & trademark laws. Athena Advisors Limited has 0.48% invested in Bank of America Corp (NYSE:BAC) for 76,235 shares.

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I'm not really particularly taking insane risks in order to be in the position I'm in. A clearly disappointed Vettel said: "We've done an incredible job so far".

Wall Street was expecting the banking company to report earnings per share of 45 cents on revenue of $21.98 billion in the quarter. Legal & General Group Plc now owns 49,789,644 shares of the financial services provider's stock worth $1,174,642,000 after acquiring an additional 380,726 shares in the last quarter. Following the sale, the director now owns 50,000 shares in the company, valued at approximately $1,208,000.

Total shares held by institutions as of the most recent company filings are 7,259,672,134 with a reported 288,341,060 bought and 396,286,754 sold. Shareholders of record on Friday, September 1st were issued a $0.12 dividend. Bryn Mawr has invested 0.08% in M&T Bank Corporation (NYSE:MTB). The ex-dividend date of this dividend was Wednesday, August 30th. Its down 0.07, from 1.07 in 2017Q1. The shares were sold at an average price of $24.16, for a total transaction of $2,096,194.08. The stock increased 1.00% or $2.14 during the last trading session, reaching $216.81. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corporation presently has a consensus rating of "Buy" and an average target price of $24.88. Deutsche Bank maintained Bank of America Corp (NYSE:BAC) on Wednesday, August 12 with "Buy" rating. Gateway Advisory LLC grew its holdings in Bank of America Corporation by 0.4% during the second quarter.