Bank of America Profit Climbs, Driven by Higher Interests Rates

Bank of America Profit Climbs, Driven by Higher Interests Rates”

Other hedge funds also recently modified their holdings of the company. The stock of Bank of America Corp (NYSE:BAC) has "Underperform" rating given on Tuesday, August 25 by Macquarie Research.

Bank of America posted $11.4 billion in net interest income, using the adjusted figure analysts tend to prefer to show fully taxable equivalence. The stock of Bank of America Corp (NYSE:BAC) earned "Buy" rating by Jefferies on Tuesday, July 21. 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.

Since January 1, 0001, it had 4 buys, and 5 selling transactions for $419,693 activity. Bank of America Corporation presently has a consensus rating of "Buy" and a consensus price target of $24.88. David R Rahn & Associates Inc sold 24,322 shares as Bank Amer Corp (BAC)'s stock declined 6.00%. About 103.61 million shares traded or 51.68% up from the average.

Bank of America, the second-largest US bank by assets, employs about 15,000 in Charlotte. The company has market cap of $272.52 billion. The company has a 50-day moving average price of $24.71 and a 200 day moving average price of $23.93. Patten & Patten Inc Tn reported 0.62% of its portfolio in Bank of America Corp (NYSE:BAC). Earnings also beat estimates of $0.45 by Thomson Reuters. The firm had revenue of $22.80 billion for the quarter, compared to analysts' expectations of $21.84 billion. They expect $2.40 EPS, up 12.68% or $0.27 from last year's $2.13 per share. Citigroup initiated the shares of ANTM in report on Friday, October 2 with "Buy" rating.

TRADEMARK VIOLATION WARNING: "Vetr Inc". This is a boost from Bank of America Corporation's previous quarterly dividend of $0.08. If you are viewing this story on another domain, it was illegally stolen and republished in violation of USA and worldwide copyright and trademark legislation. The correct version of this piece of content can be accessed at On average, equities analysts predict that Bank of America Corporation will post $1.79 earnings per share for the current fiscal year. Stock buyback plans are usually a sign that the company's management believes its shares are undervalued. Shareholders of record on Friday, September 1st were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, August 30th.

Kovitz Investment Group Partners LLC grew its stake in Bank of America Corporation (NYSE:BAC) by 0.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). This represents a $0.48 dividend on an annualized basis and a yield of 1.86%. Bank of America Corporation's dividend payout ratio (DPR) is 28.57%. The stock was sold at an average price of $24.16, for a total transaction of $2,096,194.08. The stock of M&T Bank Corporation (NYSE:MTB) earned "Market Perform" rating by Wells Fargo on Thursday, August 10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The stock decreased 2.38% or $1.5 on October 13, reaching $61.45. It fall, as 79 investors sold BAC shares while 543 reduced holdings. Toronto-Dominion Bank (TSE:TD) has 0.00% since October 14, 2016 and is. Bank of America maintained BlackBerry Ltd (NASDAQ:BBRY) rating on Friday, September 22. The Manufacturers Life Insurance Company now owns 44,136,977 shares of the financial services provider's stock valued at $1,070,762,000 after purchasing an additional 9,612,342 shares in the last quarter. M&T State Bank Corp stated it has 1.17 million shares. This buyback authorization permits the financial services provider to reacquire up to 4.8% of its stock through open market purchases. Scholtz & Company Llc bought 74,225 shares as the company's stock declined 6.00% while stock markets rallied. Clal Limited owns 2.00M shares or 0.96% of their U.S. portfolio. Finally, Investec Asset Management LTD increased its holdings in shares of Bank of America Corporation by 68.6% during the 2nd quarter. Tiaa Cref Management Limited Liability accumulated 63.64 million shares.

Bank of America Corporation is a bank holding company and a financial holding company. Through the Bank, the Company provides a range of financial services and products to customers, including lending and deposit products.

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