Bank of America Corp (BAC) Earnings: 10 Things to Know About Q3

Ann Santiago
October 15, 2017

Bank Of America Corp now has $272.52B valuation. The stock increased 1.55% or $0.4 on October 13, reaching $25.83.

BofA's shares rose about 1 percent in premarket trade.

Bank of America reported higher third-quarter profits Friday following a strong performance in consumer banking due to increased interest rates, offsetting weakness in trading. It has outperformed by 41.94% the S&P500. Agf reported 13,000 shares or 0% of all its holdings. The SI to Anthem Incorporated's float is 2.27%. About 2.56 million shares traded. BlackBerry Ltd (NASDAQ:BBRY) has risen 55.16% since October 14, 2016 and is uptrending. It has outperformed by 19.11% the S&P500.

Anthem, a health benefits company. The stock has a market cap of $271.64 billion, a P/E ratio of 15.38 and a beta of 1.25. The Firm operates through three divisions: Commercial and Specialty Business, Government Business and Other. It offers a spectrum of network managed care plans to large and small employer, individual, Medicaid and Medicare markets.

The stock increased 0.48% or $0.05 on October 13, reaching $10.45. Therefore 43% are positive. M&T Bank had 66 analyst reports since August 6, 2015 according to SRatingsIntel. The firm has "Outperform" rating given on Wednesday, November 25 by Credit Suisse. On Tuesday, September 1 the stock rating was upgraded by Bernstein to "Buy". Finally, Citigroup Inc. restated a "neutral" rating and set a $27.00 target price (up previously from $25.00) on shares of Bank of America Corporation in a research report on Monday, October 9th. The firm earned "Neutral" rating on Tuesday, May 24 by Sterne Agee CRT.

Investors sentiment decreased to 1.12 in Q2 2017. Stockholders of record on Friday, September 1st were given a dividend of $0.12 per share.

Total shares held by institutions as of the most recent company filings are 7,259,672,134 with a reported 288,341,060 bought and 396,286,754 sold.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Shares buyback programs are often a sign that the company's management believes its stock is undervalued. Shapiro Cap Management Ltd holds 0% or 6.70M shares. Hallmark Mngmt, a New Jersey-based fund reported 9,019 shares. 50,846 are owned by Grimes And. Following the completion of the sale, the director now owns 50,000 shares in the company, valued at $1,208,000. New York-based Cipher Limited Partnership has invested 0.41% in Bank of America Corp (NYSE:BAC). First Allied Advisory Services Inc sold 89,017 shares as Bank Amer Corp (BAC)'s stock declined 6.00%. Barclays Capital downgraded the shares of TD in report on Tuesday, May 23 to "Equal-Weight" rating. Adell Harriman And Carpenter accumulated 17,620 shares or 0% of the stock.

"On balance, BAC's results stack up better than those of peers, as credit surprised positively", Steven Chubak, a Nomura Instinet analyst, wrote in a note to investors, referring to Bank of America's stock ticker. Legacy Private Tru holds 18,772 shares or 0.06% of its portfolio.

Miller Mgmt Lp owns 37,675 shares for 0.32% of their portfolio. Investec Asset Mgmt North America invested in 528,653 shares. Therefore 67% are positive.

Bank of America posted $11.4 billion in net interest income, using the adjusted figure analysts tend to prefer to show fully taxable equivalence. As per Tuesday, October 3, the company rating was maintained by Keefe Bruyette & Woods. The stock has "Outperform" rating by Wood on Friday, April 7. The rating was maintained by BMO Capital Markets with "Hold" on Wednesday, May 31. Oppenheimer maintained Bank of America Corp (NYSE:BAC) on Tuesday, July 18 with "Buy" rating. Zacks Investment Research cut shares of Bank of America Corporation from a "hold" rating to a "sell" rating in a research report on Tuesday. BMO Capital Markets has "Hold" rating and $10.0 target. The firm earned "Buy" rating on Wednesday, January 11 by Societe Generale. (NASDAQ:KEYW) rating on Friday, August 11. Renaissance Macro Securities LLC has "Buy" rating and $2900 target.

Nokota Management Lp increased Blackberry Ltd (BBRY) stake by 21.4% reported in 2017Q2 SEC filing. It also reduced Juniper Networks Inc (NYSE:JNPR) stake by 68,020 shares and now owns 3,280 shares. Citizens Finl Group Inc (NYSE:CFG) was reduced too.

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