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Analysts Delving into the Numbers on Bank of America Corporation (NYSE:BAC)

20 October 2017

Bank of America Corporation (NYSE:BAC) gained 0.38% in yesterday's session, going up from its prior closing price of $26.48 to $26.58, and has now recorded rally in 3 consecutive sessions. Utd Capital Fincl Advisers Limited Liability Corporation owns 543,933 shares for 0.12% of their portfolio.

Bank of America Corporation (NYSE:BAC) last released its quarterly earnings results on Friday, October 13th. Jolley Asset Management, LLC reduced its holdings by shedding 2,883 shares a decrease of 1.7% in the quarter.

The stock decreased 2.56% or $1.65 during the last trading session, reaching $62.85. Finally, Zacks Investment Research downgraded shares of Bank of America Corporation from a "hold" rating to a "sell" rating in a research report on Tuesday, October 10th. Wells Fargo & Co began coverage on shares of Bank of America Corporation in a report on Wednesday, August 9th. With the move the stock is now valued at $27.06. A higher ROA compared to peers in the same industry, would suggest that company management is able to effectively generate profits from their assets. The Edinburgh Partners Ltd holds 689,990 shares with $33.07 million value, down from 717,544 last quarter.

Institutional owners hold 70.10% stake while Insiders ownership held at 0.13% in the company.

BAC has been the topic of a number of research reports. On Tuesday, July 19 the stock rating was maintained by Citigroup with "Buy". Bessemer Group Inc bought 58,296 shares as the company's stock declined 6.00% while stock markets rallied. The stock of American International Group Inc (NYSE:AIG) has "Buy" rating given on Tuesday, October 10 by Bank of America. (NYSE:V), 30 have Buy rating, 0 Sell and 6 Hold. Further, analysts have a 12 month target price of $27.50 on company shares. First Quadrant LP Ca reported 13,007 shares. If you are reading this story on another domain, it was illegally copied and republished in violation of United States & worldwide trademark and copyright legislation. Jefferies maintained Bank of America Corp (NYSE:BAC) on Thursday, September 14 with "Buy" rating. The value of the position overall is up by 2.8%.

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Steinberg Global Asset Management, which manages about $604.10M and $657.23M US Long portfolio, upped its stake in Ishares Tr (IJH) by 1,902 shares to 98,694 shares, valued at $17.17 million in 2017Q2, according to the filing. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Brokerage houses, on average, are recommending investors to hold Bank of America Corporation (BAC)'s shares projecting a $27.5 target price. The company has market cap of $279.38 billion. What do you think is the future for Bank of America Corporation? Bain Capital Equity Mgmt reported 3.11% of its portfolio in Bank of America Corp (NYSE:BAC). Scholtz & Company Llc acquired 74,225 shares as Bank Of America Corp (BAC)'s stock declined 6.00%.

Investors has seen a return of equity of 7.20%. The business had revenue of $22.08 billion during the quarter, compared to analyst estimates of $22.07 billion. Azimuth Cap Llc reported 0.56% of its portfolio in Bank of America Corp (NYSE:BAC). Bank Amer Corp Com now has $280.43 billion valuation. This buyback authorization permits the financial services provider to buy up to 4.8% of its shares through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its shares are undervalued. Additionally the company recently declared a dividend for shareholders that was paid on Friday the 29th of September 2017. The stock's Dividend Yield stands at 1.81%. After $-0.37 actual earnings per share reported by Iovance Biotherapeutics Inc for the previous quarter, Wall Street now forecasts -5.41% EPS growth. The ex-dividend date was Wednesday, August 30th. The ability for Bank of America Corporation to pay these debts is as follows; current ratio is *tba and quick ratio comes to *tba.

Bank of America Corporation is based in U.S., in the very big sector Financial. The Company is a financial institution, serving individual consumers, small- and middle-market businesses, institutional investors, corporations and governments with a range of banking, investing, asset management and other financial and risk management products and services. 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.