Bank of America third-quarter profit rises 13 percent, beat forecasts

14 October, 2017, 00:38 | Author: Terri Saunders
  • Wells Fargo

The institutional investor owned 3,096,240 shares of the financial services provider's stock after acquiring an additional 16,040 shares during the period.

The bank reported a net income of $5.6 billion, a 13 percent increase year over year, or an EPS increase of $0.48 per share, a 17 percent increase year over year. The financial services provider reported $0.46 earnings per share for the quarter, beating the Zacks' consensus estimate of $0.43 by $0.03. About 748,500 shares traded. It has underperformed by 30.84% the S&P500.

Guy Shahar decreased its stake in Bank Amer Corp (BAC) by 87.36% based on its latest 2017Q2 regulatory filing with the SEC.

Shares of Bank of America Corporation (NYSE BAC) opened at 25.45 on Monday. The shares price go up so far this year; showing a rise of 15.16% and dropped with negative flow of -2.60% during recent week. Bank Amer Corp now has $273.84 billion valuation. The company has a market capitalization of $267.64 billion, a price-to-earnings ratio of 15.16 and a beta of 1.25. British Columbia Mgmt holds 73,234 shares or 0.09% of its portfolio. Moreover, Bingham Osborn & Scarborough Limited Liability Com has 0.2% invested in Bank of America Corp (NYSE:BAC). It has outperformed by 41.94% the S&P500. Two 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 given a strong buy rating to the stock. Therefore 50% are positive. Robert W. Baird downgraded the stock to "Neutral" rating in Thursday, January 5 report. The stock of M&T Bank Corporation (NYSE:MTB) earned "Market Perform" rating by Wells Fargo on Thursday, August 10. Maxim Group maintained it with "Buy" rating and $10 target in Thursday, February 25 report.

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. The company now has an average rating of "Buy" and an average target price of $24.88. YHB Investment Advisors Inc. now owns 161,450 shares of the financial services provider's stock valued at $3,917,000 after purchasing an additional 23,729 shares during the period. On Tuesday, July 18 the stock rating was maintained by Nomura with "Buy". Company's EPS for the past five years is valued at 19.42%, leading it to an EPS value of 11.06% for the next five years. On Tuesday, July 18 the stock rating was maintained by Oppenheimer with "Buy". Crystal Rock Management holds 202,400 shares. Royal Dutch Shell Plc was raised too.

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Investors sentiment decreased to 1.12 in 2017 Q2. Shareholders of record on Friday, September 1st were paid a dividend of $0.12 per share. 47 funds opened positions while 158 raised stakes. (NASDAQ:NTGR). Barclays Public Ltd reported 23,626 shares. Ronna Sue Cohen reported 39,864 shares or 0.72% of all its holdings.

Among 29 analysts covering Bank of America (NYSE:BAC), 19 have Buy rating, 0 Sell and 10 Hold. Burney holds 1,701 shares or 0.02% of its portfolio. Covington has invested 2% in M&T Bank Corporation (NYSE:MTB). Warman D Scott N had sold 1,000 shares worth $161,198. 72,084 are owned by Centurylink Mngmt Co. Yacktman Asset Lp reported 1.11 million shares. Pennsylvania-based Brick Kyle has invested 0.84% in Bank of America Corp (NYSE:BAC). Tarbox Family Office Inc. increased its position in Bank of America Corporation by 0.4% in the second quarter. Sei Invests holds 0.01% or 82,234 shares in its portfolio.

Among 44 analysts covering Nike Inc. (NASDAQ:NTGR) has "Hold" rating given on Monday, October 3 by BWS Financial. Therefore 43% are positive. Nike Inc. had 187 analyst reports since July 29, 2015 according to SRatingsIntel. As per Friday, July 7, the company rating was maintained by Jefferies. RBC Capital Markets initiated KEYW Holding Corp. The firm has "Buy" rating given on Tuesday, August 25 by Deutsche Bank. 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. The stock has "Outperform" rating by Wood on Friday, April 7. The stock has "Hold" rating by Wood on Friday, March 24.

Since May 1, 2017, it had 0 insider purchases, and 14 selling transactions for $1.74 million activity. It turned negative, as 42 investors sold NTGR shares while 52 reduced holdings. Pacific Glob Invest Mgmt owns 253,232 shares or 1.41% of their U.S. portfolio. Montag & Caldwell Lc has invested 0.02% in Nike Inc (NYSE:NKE). Ahl Prtn Llp reported 0.04% stake. Agf Inc accumulated 9,719 shares. Colony Grp Ltd stated it has 11,742 shares. Qci Asset Mgmt Inc holds 708,782 shares or 2.07% of its portfolio. Birinyi Associates owns 34,250 shares. Ifc Fl invested in 0.13% or 28,373 shares. Gvo Asset Limited reported 2.41% stake.

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