Bank of America (BAC) Reaches $31.19 52-Week High; CARS.COM INC. Common Stock (CARS) SI Decreased By 1.23%

January 14, 2018 - By Michael Collier

The stock of Bank of America Corporation (NYSE:BAC) hit a new 52-week high and has $32.75 target or 5.00% above today’s $31.19 share price. The 8 months bullish chart indicates low risk for the $325.33 billion company. The 1-year high was reported on Jan, 14 by Barchart.com. If the $32.75 price target is reached, the company will be worth $16.27 billion more. The stock increased 1.73% or $0.53 during the last trading session, reaching $31.19. About 66.37M shares traded. Bank of America Corporation (NYSE:BAC) has risen 58.64% since January 14, 2017 and is uptrending. It has outperformed by 41.94% the S&P500.

CARS.COM INC. Common Stock (NYSE:CARS) had a decrease of 1.23% in short interest. CARS’s SI was 19.81 million shares in January as released by FINRA. Its down 1.23% from 20.06 million shares previously. With 1.35 million avg volume, 15 days are for CARS.COM INC. Common Stock (NYSE:CARS)’s short sellers to cover CARS’s short positions. The stock decreased 2.14% or $0.67 during the last trading session, reaching $30.57. About 3.33 million shares traded or 96.76% up from the average. Cars.com Inc. (NYSE:CARS) has 0.00% since January 14, 2017 and is . It has underperformed by 16.70% the S&P500.

Cars.com Inc. operates as an online research destination for car shoppers. The company has market cap of $2.19 billion. It sells online subscription advertising products to car dealerships by its own direct sales force, as well as through its affiliate sales channel. It has a 18.04 P/E ratio. The firm also sells display advertising to national advertisers.

Among 32 analysts covering Bank of America (NYSE:BAC), 21 have Buy rating, 0 Sell and 11 Hold. Therefore 66% are positive. Bank of America has $36.0 highest and $15 lowest target. $25.62’s average target is -17.86% below currents $31.19 stock price. Bank of America had 103 analyst reports since July 21, 2015 according to SRatingsIntel. The rating was maintained by Jefferies on Friday, August 11 with “Buy”. The firm has “Buy” rating by Renaissance Macro Securities LLC given on Sunday, July 23. The stock has “Equal Weight” rating by Barclays Capital on Tuesday, January 3. JP Morgan maintained Bank of America Corporation (NYSE:BAC) rating on Wednesday, November 1. JP Morgan has “Overweight” rating and $28.5 target. Sandler O’Neill maintained the stock with “Buy” rating in Tuesday, January 9 report. The rating was upgraded by CLSA to “Outperform” on Friday, January 29. The stock of Bank of America Corporation (NYSE:BAC) earned “Hold” rating by Robert W. Baird on Tuesday, January 2. The firm has “Buy” rating by Raymond James given on Tuesday, December 5. The stock of Bank of America Corporation (NYSE:BAC) earned “Buy” rating by RBC Capital Markets on Wednesday, April 5. The stock of Bank of America Corporation (NYSE:BAC) earned “Neutral” rating by Robert W. Baird on Tuesday, August 25.

Bank of America Corporation, through its subsidiaries, provides banking and financial services and products for individual consumers, small and middle-market businesses, institutional investors, large firms, and governments worldwide. The company has market cap of $325.33 billion. It operates through four divisions: Consumer Banking, Global Wealth & Investment Management, Global Banking, and Global Markets. It has a 17.85 P/E ratio. The Consumer Banking segment offers traditional and money market savings accounts, CDs and IRAs, noninterest- and interest-bearing checking accounts, and investment accounts and products, as well as credit and debit cards, residential mortgages and home equity loans, and direct and indirect loans.

Analysts await Bank of America Corporation (NYSE:BAC) to report earnings on January, 17 before the open. They expect $0.46 earnings per share, up 15.00% or $0.06 from last year’s $0.4 per share. BAC’s profit will be $4.80 billion for 16.95 P/E if the $0.46 EPS becomes a reality. After $0.48 actual earnings per share reported by Bank of America Corporation for the previous quarter, Wall Street now forecasts -4.17% negative EPS growth.

Since August 10, 2017, it had 0 insider purchases, and 1 sale for $2.10 million activity. Another trade for 86,763 shares valued at $2.10 million was sold by BRAMBLE FRANK P.

Investors sentiment decreased to 1.04 in Q3 2017. Its down 0.08, from 1.12 in 2017Q2. It turned negative, as 68 investors sold Bank of America Corporation shares while 569 reduced holdings. 117 funds opened positions while 547 raised stakes. 6.91 billion shares or 9.01% more from 6.34 billion shares in 2017Q2 were reported. Liberty Mutual Grp Incorporated Asset Management reported 422,540 shares stake. Adams Asset reported 0.27% in Bank of America Corporation (NYSE:BAC). Stephens Ar accumulated 910,940 shares. The Delaware-based Cortland Advisers Lc has invested 4.34% in Bank of America Corporation (NYSE:BAC). The New York-based Berson Corrado Inv Ltd has invested 4.23% in Bank of America Corporation (NYSE:BAC). L & S Advsr Inc reported 264,288 shares. Verition Fund Mgmt Limited Liability Company holds 0.07% of its portfolio in Bank of America Corporation (NYSE:BAC) for 32,282 shares. Community State Bank Na accumulated 5,360 shares or 0.01% of the stock. Schulhoff & Incorporated holds 0.73% or 48,379 shares in its portfolio. Sfmg Limited Liability Corp invested in 8,000 shares or 0.04% of the stock. Terril Brothers owns 839,874 shares. Amica Mutual Insurance accumulated 312,335 shares or 0.71% of the stock. Honeywell Intll Inc holds 2.05% or 2.31 million shares in its portfolio. F&V Capital Mngmt Ltd Company invested in 0.33% or 22,370 shares. Amer Fincl Bank stated it has 100 shares.

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