BofA profit rises on higher rates, lower costs

BofA profit rises on higher rates, lower costs

BAC has been the subject of a number of other reports. BMO Capital Markets maintained it with "Hold" rating and $27.0 target in Friday, October 6 report.

Among 29 analysts covering Bank of America (NYSE:BAC), 19 have Buy rating, 0 Sell and 10 Hold. Wedbush maintained M&T Bank Corporation (NYSE:MTB) rating on Wednesday, November 30. BidaskClub upgraded Bank of America Corporation from a "hold" rating to a "buy" rating in a report on Friday, July 7th.

Among 7 analysts covering Netgear (NASDAQ:NTGR), 4 have Buy rating, 0 Sell and 3 Hold.

Looking into last 5 trades, the stock observed a return of nearly -2.60%. Stellar Cap Mgmt Lc holds 3.91% of its portfolio in Bank of America Corp (NYSE:BAC) for 221,843 shares. The firm has a 50-day moving average of $24.65 and a 200-day moving average of $23.91. The company has market cap of $48.27 billion.

What Historical Figures Say About Bank of America Corporation (NYSE: BAC)?

More notable recent Bank of America Corp (NYSE:BAC) news were published by: Nasdaq.com which released: "Mid-Morning Market Update: Markets Open Higher; Bank of America Profit Beats ..." on October 13, 2017, also Investorplace.com with their article: "Bank of America Corp (BAC) Stock Waits for Boost From DC Tailwinds" published on September 28, 2017, Investorplace.com published: "What You Need to Know About Bank of America Corp (BAC) Stock Ahead of Earnings" on October 12, 2017.

Things to Watch in Wells Fargo's Results
On average, analysts expect Wells Fargo & to post $4.14 EPS for the current fiscal year and $4.40 EPS for the next fiscal year. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

Bank of America reported third-quarter results on Friday that beat Wall Street expectations despite a slowdown in its fixed-income trading business. The company had revenue of $22.08 billion for the quarter, compared to analyst estimates of $22.07 billion. Bank of America Corporation had a net margin of 20.28% and a return on equity of 8.11%.

Over the prior three fiscal years (12 quarters), when shares of BAC rose in the extended-hours session in reaction to its earnings announcement, history shows that 25.0% of the time (2 events) the stock posted additional gains in the following regular session by an average of 1.5%. -Earnings Growth (Y-o-Y): 15.1% -EPS (Q3): $0.48 vs. $0.41 a year ago. Bank Of America Corp now has $271.57B valuation. The original version of this report can be accessed at https://stocknewstimes.com/2017/10/13/bank-of-america-corporation-bac-earns-buy-rating-from-oppenheimer-holdings-inc.html. Shares repurchase plans are typically an indication that the company's board believes its shares are undervalued. The company was maintained on Friday, September 23 by Canaccord Genuity. Stockholders of record on Friday, September 1st were paid a $0.12 dividend. For the income oriented investors, the existing payout ratio will be observed closely, providing a valuable insight into Bank of America Corporation's dividend policy. The ex-dividend date of this dividend was Wednesday, August 30th.

Since May 1, 2017, it had 0 insider purchases, and 14 selling transactions for $1.74 million activity.

Like other banks that reported Thursday, Bank of America also scored a modest increase in overall loans. Tracking the stock price in relation to moving averages as well as highs and lows for the year might assist with evaluating future stock performance. Green Valley Investors Llc acquired 171,974 shares as Nike Inc (NKE)'s stock declined 8.78%.

Bancorpsouth Inc increased its stake in Netgear Inc (NTGR) by 154.7% based on its latest 2017Q2 regulatory filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in BAC. M Holdings Securities Inc. raised its holdings in shares of Bank of America Corporation by 72.9% during the first quarter. On an adjusted basis, revenue was $22.08 billion, up from $21.86 billion a year earlier. Dimensional Fund Advsr LP has invested 0.64% in Bank of America Corp (NYSE:BAC). Capital Management Corp VA now owns 10,352 shares of the financial services provider's stock worth $244,000 after buying an additional 33 shares in the last quarter. Pekin Singer Strauss Asset Management Il owns 0.11% invested in Bank of America Corp (NYSE:BAC) for 27,640 shares. Finally, Arbor Investment Advisors LLC grew its holdings in Bank of America Corporation by 0.3% during the second quarter. Aspen Investment reported 32,243 shares.

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