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

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

Shares of Bank of America have risen almost 16 percent this year, slightly outperforming the S&P 500 index. Wells Fargo & Company began coverage on shares of Bank of America Corporation in a research report on Wednesday, August 9th. The third largest holder is State Street Corp, which now holds $11.44 billion worth of this stock and that ownership represents almost 4.33% of its market capitalization. These shares are worth $2,096,194 and were traded at $24.16 each.

Bank of America's consumer banking business saw revenue rise 10 percent to $8.8 billion, with loans rising 8 percent and deposits 9 percent. It has outperformed by 41.94% the S&P500. This company shares are 6.95% off its target price of $27.22 and the current market capitalization stands at $264.2B. Vanguard Group Inc is the second biggest holder with 661 million shares now valued at 16.05 B million whilst State Street Corp has 443 million shares valued at 10.75 B million. Historical earnings event related premarket and after-hours trading activity in BAC indicates that the price change in the extended hours is likely to be of limited value in forecasting additional price movement by the following regular session close. About 18,100 shares traded.

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. It fall, as 79 investors sold BAC shares while 543 reduced holdings. Moreover, Scholtz And Co Ltd Liability Company has 3.41% invested in Bank of America Corp (NYSE:BAC). Asset Mngmt holds 56,631 shares or 0.02% of its portfolio. Anson Funds Mgmt Ltd Partnership invested 7.16% of its portfolio in Bank of America Corp (NYSE:BAC). Pennsylvania holds 111,909 shares. Illinois-based Front Barnett Assocs Ltd has invested 2.01% in Bank of America Corp (NYSE:BAC). Amer Bancshares reported 103 shares. Cullen Frost Bankers, a Texas-based fund reported 495,523 shares. 10,929 are owned by Dubuque Natl Bank Trust. Gofen Glossberg Ltd Limited Liability Company Il stated it has 33,823 shares or 0.03% of all its holdings. Vident Investment Advisory Limited Liability Co owns 0.03% invested in Bank of America Corp (NYSE:BAC) for 13,725 shares. Kornitzer Capital Mgmt Ks invested in 150,552 shares. 900 are held by Barnett &. Apg Asset Mngmt Nv owns 30.05 million shares or 1.32% of their United States portfolio. The stock climbed 15 percent this year through Thursday, outpacing the 8.2 percent advance of the 24-company KBW Bank Index.

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Fulton Bank decreased Vanguard Specialized Portfol (VDIGX) stake by 595,941 shares to 885,285 valued at $22.46 million in 2017Q2. Following the sale, the director now directly owns 50,000 shares in the company, valued at $1,208,000. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the company. Therefore 66% are positive. PepsiCo had 55 analyst reports since July 21, 2015 according to SRatingsIntel. The firm has "Buy" rating by Jefferies given on Thursday, September 14. The stock has "Neutral" rating by UBS on Wednesday, August 26. Nippon Life Global Investors Americas has invested 2.63% in Bank of America Corp (NYSE:BAC). Bank of America Corporation's payout ratio is 28.57%. "The stock of Bank of America Corp (NYSE:BAC) earned "Mkt Perform" rating by Bruyette & Woods" on Monday, August 24. The firm has "Hold" rating given on Friday, October 6 by BMO Capital Markets. Pnc Financial Services Group Inc (NYSE:PNC) was reduced too. Therefore 42% are positive. The stock has "Buy" rating by Berenberg on Wednesday, July 13. The firm has "Overweight" rating given on Wednesday, November 11 by Barclays Capital. As per Monday, October 31, the company rating was upgraded by Goldman Sachs. The stock of Clean Harbors Inc (NYSE:CLH) earned "Underperform" rating by Raymond James on Tuesday, January 26. The firm has "Outperform" rating by Oppenheimer given on Saturday, September 5. The company was maintained on Tuesday, August 15 by Jefferies. Jefferies maintained the stock with "Buy" rating in Friday, July 7 report.

Investors sentiment decreased to 1.29 in 2017 Q2. 117 funds opened positions while 502 raised stakes. Panagora Asset Mgmt Incorporated holds 1.04% or 2.24 million shares in its portfolio.

Bank of America Corporation is a bank holding company and a financial holding company. Aspiriant Ltd Liability reported 39,942 shares.

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