November 23, 2016 - By Nellie Frank
Bank Of America Corp’s director, Michael White, acquired 25,000 shares of stock in the corporation. The avg. share cost was $20.1, for aggregate transaction value of $503,500 USD. Michael White presently has 0.0008% of Bank Of America Corp’s stock market cap with ownership of 85,650 shares.
Out of 23 analysts covering Bank of America (NYSE:BAC), 12 rate it a “Buy”, 0 “Sell”, while 11 “Hold”. This means 52% are positive. $21 is the highest target while $15 is the lowest. The $17.89 average target is -13.03% below today’s ($20.57) stock price. Bank of America has been the topic of 47 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Wood downgraded it to “Market Perform” rating and $16 target price in Monday, May 16 report. Bernstein upgraded it to “Mkt Perform” rating and $19.0 target price in Tuesday, August 25 report. On Wednesday, July 13 the stock rating was initiated by Berenberg with “Buy”. As per Tuesday, August 25, the company rating was maintained by Deutsche Bank. On Tuesday, September 8 the stock rating was upgraded by Nomura to “Buy”. On Wednesday, August 26 the stock rating was upgraded by UBS to “Neutral”. The firm has “Outperform” rating given on Monday, August 24 by KBW. The stock of Bank of America Corp (NYSE:BAC) earned “Buy” rating by Deutsche Bank on Wednesday, August 12. The rating was upgraded by Robert W. Baird to “Neutral” on Tuesday, August 25. The firm has “Outperform” rating by CLSA given on Friday, September 23.
Insitutional Activity: The institutional sentiment increased to 1.01 in 2016 Q2. Its up 0.11, from 0.9 in 2016Q1. The ratio increased, as 101 funds sold all Bank of America Corp shares owned while 529 reduced positions. 83 funds bought stakes while 482 increased positions. They now own 6.08 billion shares or 0.24% less from 6.09 billion shares in 2016Q1.
Gendell Jeffrey L, a Connecticut-based fund reported 1.05M shares. The Missouri-based Stifel Fincl has invested 0.16% in Bank of America Corp (NYSE:BAC). Holowesko Prtn Ltd holds 4.79 million shares or 5.35% of its portfolio. Rex Capital Advsr holds 0.18% or 13,263 shares in its portfolio. Moreover, Hall Laurie J Trustee has 0.07% invested in Bank of America Corp (NYSE:BAC) for 7,732 shares. Riverpoint Capital Mgmt Limited Com holds 0.12% of its portfolio in Bank of America Corp (NYSE:BAC) for 101,249 shares. Proffitt And Goodson Incorporated accumulated 93,531 shares or 0.68% of the stock. Mairs & holds 0% or 13,064 shares in its portfolio. The New York-based Seminole Mngmt Com Inc has invested 2.72% in Bank of America Corp (NYSE:BAC). Soros Fund Mngmt has 0.1% invested in the company for 351,975 shares. The New York-based Clinton Grp has invested 0.05% in Bank of America Corp (NYSE:BAC). Moreover, Sirios Capital Mgmt Ltd Partnership has 5.49% invested in Bank of America Corp (NYSE:BAC) for 8.62M shares. Obermeyer Wood Inv Counsel Lllp holds 2.99% or 2.27 million shares in its portfolio. Rmsincerbeaux Mgmt Limited Liability holds 223,238 shares or 3.05% of its portfolio. Capwealth Ltd Llc reported 985,265 shares or 3.19% of all its holdings.
Insider Transactions: Since August 2, 2016, the stock had 1 buying transaction, and 1 insider sale for $11.52 billion net activity. 25,000 Bank of America Corp (NYSE:BAC) shares with value of $353,250 were bought by Woods Thomas D. 1.25 billion shares with value of $11.52 billion were sold by YNOFACE Holdings Inc on Monday, August 15.
About 110.78 million shares traded hands. Bank of America Corp (NYSE:BAC) has risen 36.24% since April 21, 2016 and is uptrending. It has outperformed by 30.91% the S&P500.
Bank of America Corporation is a bank holding and financial holding company. The company has a market cap of $207.45 billion. The Firm is a financial institution, serving individual consumers, small- and middle-market businesses, institutional investors, firms and governments with various banking, investing, asset management and other financial and risk management services and products. It has a 15.25 P/E ratio.
According to Zacks Investment Research, “Bank of America Corp. is one of the world’s leading financial services companies. Bank of America provides individuals, small businesses and commercial, corporate and institutional clients across the United States and around the world new and better ways to manage their financial lives. The company enables customers to do their banking and investing whenever, wherever and however they choose.”
Analysts await Bank of America Corp (NYSE:BAC) to report earnings on January, 13 before the open. They expect $0.38 earnings per share, up 35.71% or $0.10 from last year’s $0.28 per share. BAC’s profit will be $3.83B for 13.53 P/E if the $0.38 EPS becomes a reality. After $0.41 actual earnings per share reported by Bank of America Corp for the previous quarter, Wall Street now forecasts -7.32% negative EPS growth.
More notable recent Bank of America Corp (NYSE:BAC) news were published by: Investorplace.com which released: “Wednesday’s Vital Data: Bank of America Corp (BAC), Apple Inc. (AAPL) and AT&T ..” on November 23, 2016, also Investorplace.com with their article: “Bank of America Corp (BAC) Stock Is the Best Bet in the Sector” published on November 22, 2016, Wsj.com published: “Justice Department ‘Hustle’ Case Against Bank of America Dies” on November 22, 2016. More interesting news about Bank of America Corp (NYSE:BAC) were released by: Investorplace.com and their article: “Bank of America Corp (BAC) Stock: Is the Trump Boost Over?” published on November 17, 2016 as well as Wsj.com‘s news article titled: “Bank of America Trading Benefits From Trump’s Election Surprise” with publication date: November 15, 2016.
Bank of America Corporation, incorporated on July 31, 1998, is a bank holding firm (BHC) and a financial holding company. The Firm is a financial institution, serving individual consumers, small- and middle-market businesses, institutional investors, firms and governments with a range of banking, investing, asset management and other financial and risk management services and products. The Company’s divisions include Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, Global Markets, Legacy Assets & Servicing (LAS) and All Other. Through its banking and various nonbank subsidiaries throughout the United States and international markets, the Company provides a range of banking and nonbank financial services and products.
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By Nellie Frank