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Bank of America Corp Stock Falls Despite Q4 Earnings Beat

Bank of America Corp Stock Falls Despite Q4 Earnings Beat

The stock increased 0.14% or $0.07 during the last trading session, reaching $51.73. (NASDAQ:TTWO) has risen 81.23% since January 17, 2017 and is uptrending. It has outperformed by 1.89% the S&P500.

Third Point Llc decreased Bank Amer Corp (BAC) stake by 18.33% reported in 2017Q3 SEC filing. MPS Loria Financial Planners LLC purchased a new position in shares of Bank of America during the 2nd quarter worth approximately $115,000.

The stock increased or $0 during the last trading session, hitting $. About 5.56 million shares traded. It has outperformed by 41.94% the S&P500.

Since August 10, 2017, it had 0 buys, and 1 insider sale for $2.10 million activity. Gangestad Nicholas C sold $936,291 worth of 3M Company (NYSE:MMM) on Friday, October 27. Victory Mngmt reported 1.40M shares. Shares for $92,023 were sold by Lindekugel Jon T. Therefore 23% are positive. Ambac Financial Group Inc. had 8 analyst reports since August 12, 2015 according to SRatingsIntel. On Friday, March 11 the stock rating was maintained by Brean Capital with "Buy". Keefe, Bruyette & Woods increased their target price on Bank of America from $29.00 to $34.00 and gave the company an outperform rating in a report on Thursday, December 14th. Stifel Nicolaus has "Buy" rating and $8700 target. Jefferies has "Buy" rating and $2800 target. Citigroup maintained 3M Company (NYSE:MMM) on Wednesday, July 26 with "Buy" rating. BidaskClub upgraded Bank of America from a "buy" rating to a "strong-buy" rating in a research note on Monday, October 23rd. The company was maintained on Friday, July 21 by Guggenheim.

Fourth-quarter earnings were also crimped by a $292 million charge for a loan tied to Steinhoff International Holdings.

Investors sentiment decreased to 0.8 in Q3 2017. It fall, as 68 investors sold BAC shares while 569 reduced holdings. Birch Hill Inv Advsr Ltd Co, a Massachusetts-based fund reported 1.05 million shares. Cim Investment Mangement reported 0.53% stake. Wms Partners Ltd Liability Corporation reported 32,427 shares. Westend Advsrs Ltd has invested 4.49% of its portfolio in Bank of America Corporation (NYSE:BAC). Bridgeway Capital Mgmt stated it has 0% of its portfolio in Actinium Pharmaceuticals, Inc. Hanson Mcclain holds 43 shares. Shares buyback plans are often a sign that the company's board of directors believes its stock is undervalued. BofA shares were at $30.92 at 11:45 a.m. Ipg Inv Advisors Limited Liability Com has 71,581 shares for 0.62% of their portfolio.

Analysts await CDW Corporation (NASDAQ:CDW) to report earnings on February, 6. Analysts had expected earnings of 14 cents a share, including the tax hit.

Revenue rose at three of its four businesses, pushing total revenue up about 2 percent to $20.69 billion. After $1.04 actual EPS reported by CDW Corporation for the previous quarter, Wall Street now forecasts -10.58% negative EPS growth.

Criterion Capital Management Llc decreased Charter Communications Inc N (Call) stake by 192,028 shares to 57,700 valued at $20.97M in 2017Q3.

Moynihan also reiterated that the bank invested in its own employees in 2017.

On 10/25/2017 announced a quarterly dividend of $0.12 1.73% with an ex dividend date of 11/30/2017 which will be payable on 12/1/2017.

Several analysts have commented on BAC shares. 117 funds opened positions while 547 raised stakes. Its down 9.05% from 2.05M shares previously. Diamond Hill Mgmt holds 10,046 shares. Berkshire Hathaway holds 9.68% or 679.00M shares in its portfolio. (NYSEAMERICAN:ATNM). National Bank Of Ny Mellon holds 0% in Actinium Pharmaceuticals, Inc.

Bank of America said Wednesday that its fourth-quarter profits fell by almost half from a year ago, as the bank had to record $2.9 billion in charges related to the new tax law. Proshare Advisors Ltd Co invested 0.57% of its portfolio in Bank of America Corporation (NYSE:BAC). 16,833 are held by Rfg Advisory Group Limited Liability Com.

Bank of America Corporation is a bank holding company and a financial holding company.

Investors expect the eventual windfall from lower tax rates to be passed on through higher dividends and more share buybacks.

ValuEngine lowered shares of Bank of America (NYSE:BAC) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning. Therefore 50% are positive. BMO Capital Markets has "Hold" rating and $27.0 target. The rating was downgraded by Wells Fargo to "Market Perform" on Monday, January 23. Guggenheim downgraded the stock to "Neutral" rating in Tuesday, November 15 report. The company was upgraded on Thursday, March 2 by BTIG Research. As per Tuesday, July 18, the company rating was maintained by RBC Capital Markets. The firm has "Buy" rating given on Tuesday, September 1 by KBW. The correct version of this piece of content can be read at https://stocknewstimes.com/2018/01/17/bank-of-america-bac-rating-reiterated-by-bmo-capital-markets.html. The firm has "Buy" rating by Sandler O'Neill given on Tuesday, January 9.

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