Bank of America Corporation Announces 15% Increase In Q3 Earnings

Wells Fargo

Another disappointment for Wells Fargo

The shares were sold at an average price of $24.16, for a total transaction of $2,096,194.08. Blackberry Ltd now has $6.15B valuation. Insiders own 0.18% of the company's stock.

After an initial lift from last November's election, Bank of America shares climbed 4.6% in the past month.

Financial Architects Inc increased Bank Amer Corp (BAC) stake by 11602.67% reported in 2017Q2 SEC filing.

Shares of Bank of America Corporation (NYSE:BAC) traded up 1.49% during midday trading on Friday, hitting $25.83. This was up from $4.45 billion, or $0.41 per share, in last year's third quarter.

The stock decreased 1.47% or $0.38 during the last trading session, hitting $25.45. About 621,606 shares traded.

Bank of America Corporation (NYSE:BAC) last posted its quarterly earnings results on Friday, October 13th. It has outperformed by 41.94% the S&P500. Yacktman Asset Lp holds 1.11M shares. Finally, First National Trust Co. raised its holdings in shares of Bank of America Corporation by 48.2% during the first quarter.

Bank of America also got an important vote of confidence in August when Warren Buffett's Berkshire Hathaway Inc. officially became the bank's largest shareholder, a result of an investment Berkshire initially made in 2011. -Earnings Growth (Y-o-Y): 15.1% -EPS (Q3): $0.48 vs. $0.41 past year. MTB's profit will be $367.16M for 16.96 P/E if the $2.40 EPS becomes a reality. "Revenue across our four lines of business grew 4 percent, even with a challenging comparable quarter for trading", Bank of America CEO Brian Moynihan said in a statement. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company. Therefore 67% are positive. Anthem Inc had 51 analyst reports since July 27, 2015 according to SRatingsIntel. The rating was maintained by Morgan Stanley on Thursday, September 29 with "Equal-Weight". Renaissance Macro Securities LLC maintained Bank of America Corp (NYSE:BAC) rating on Sunday, July 23. BMO Capital Markets has "Hold" rating and $10.0 target. The stock has "Buy" rating by KBW on Tuesday, September 1. Deutsche Bank maintained the stock with "Buy" rating in Tuesday, August 25 report. Carmignac Gestion owns 16.49 million shares or 3.24% of their U.S. portfolio. It also upped Global X Fds stake by 70,946 shares and now owns 111,155 shares.

Investors sentiment decreased to 1.12 in Q2 2017. Its up 0.21, from 0.96 in 2017Q1.

Several large investors have recently bought and sold shares of BAC. 120 funds opened positions while 577 raised stakes. Citigroup initiated the shares of ANTM in report on Friday, October 2 with "Buy" rating. Smith Moore, a Missouri-based fund reported 9,038 shares.

Receive Bank of America Corporation News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of America Corporation with MarketBeat.com's FREE daily email newsletter. Eagle Ridge Invest Management reported 1.33% of its portfolio in M&T Bank Corporation (NYSE:MTB). Dana Investment Advsr Inc reported 1.58% stake. Stock buyback plans are usually a sign that the company's management believes its shares are undervalued. Shares are up roughly 17 percent so far this year. 3,316 were reported by Stanley.

Saba Capital Management L.P. holds 3.84% of its portfolio in Advent Claymore Convertible Sec & Inc Fd for 2.63 million shares. Cranbrook Wealth Mgmt holds 0.01% or 500 shares in its portfolio. Nikko Asset Mgmt Americas Inc holds 50,600 shares or 0.07% of its portfolio. Stifel Financial Corporation holds 0.36% or 4.02 million shares. Scholtz & Company Llc who had been investing in Bank Of America Corp for a number of months, seems to be bullish on the $272.52B market cap company. Therefore 66% are positive.

Here are a few things to know about Bank of America Corp's recent third quarter earnings. On Wednesday, April 12 the stock rating was maintained by BMO Capital Markets with "Hold". The firm has "Buy" rating by Jefferies given on Tuesday, June 6. Finally, Buckingham Research reaffirmed a buy rating and issued a $30.00 price target (up previously from $27.00) on shares of Bank of America Corporation in a research note on Monday, July 10th. The company was maintained on Monday, December 21 by RBC Capital Markets. The rating was maintained by Robert W. Baird on Friday, September 29 with "Hold". Zacks Investment Research cut shares of Bank of America Corporation from a "hold" rating to a "sell" rating in a research report on Tuesday. Franklin Resources holds 0.19% in Bank of America Corp (NYSE:BAC) or 15.64M shares. Oppenheimer Holdings, Inc. reissued a "buy" rating on shares of Bank of America Corporation in a research report on Friday. Provisions for credit losses increased 15 percent from the previous quarter to $834 million.

Latest News