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What the Technicals Say About Bank of America Corporation (BAC)
17 September 2017, 04:31 | Hattie Nash
Finally, Wells Fargo & Company began coverage on shares of Bank of America Corporation in a research report on Wednesday, August 9th.
Bank of America Corporation declared that its Board of Directors has initiated a share buyback plan on Wednesday, June 28th that authorizes the company to repurchase $12.00 billion in shares. The stock increased 0.58% or $0.14 on September 15, reaching $24.38.
Bank of America Corporation (NYSE:BAC) in the last month has increased +0.21%. It has outperformed by 41.94% the S&P500.
Carl Domino Inc decreased Bank Amer Corp (BAC) stake by 29.38% reported in 2016Q4 SEC filing. Boston Partners now owns 75,404,921 shares of the financial services provider's stock worth $1,778,802,000 after buying an additional 368,898 shares during the period. David R Rahn & Inc invested in 95,830 shares or 1.62% of the stock. They set an "outperform" rating and a $30.00 price objective for the company. Stock repurchase plans are generally an indication that the company's leadership believes its shares are undervalued. The stock of Bank of America Corp (NYSE:BAC) earned "Hold" rating by Macquarie Research on Tuesday, September 1. It has underperformed by 6.87% the S&P500. Mason Street Advisors Ltd Limited Liability Company invested in 0.83% or 1.38M shares. Vanguard Group Inc. lifted its stake in shares of Bank of America Corporation by 1.4% in the 2nd quarter.
Investors sentiment decreased to 1.12 in Q4 2016. This represents a $0.48 annualized dividend and a yield of 1.97%. Stock investors purchased 129,205 put options on the company. 207 funds opened positions while 479 raised stakes. Retirement Planning Group reported 11,157 shares. Liberty Mutual Group Asset Management accumulated 735,825 shares or 0.58% of the stock. 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. CIBC reissued an "outperform" rating on shares of Bank of America Corporation in a research report on Tuesday, July 11th. Denali Advisors Ltd Com holds 0% or 113 shares. Pioneer Management Inc reported 0.16% stake. Da Davidson has invested 0% in Syntel, Inc. Daiwa Securities Grp Inc Inc holds 0% or 4,338 shares. Fmr Lc holds 1.88 million shares. Green Square Lc holds 44,240 shares or 0.2% of its portfolio. Baxter Bros Incorporated holds 40,142 shares. Invest Mngmt Of Virginia Ltd Liability Com invested in 57,903 shares or 0.31% of the stock. Cortina Asset Mngmt Limited Liability Company reported 378,898 shares or 0.42% of all its holdings. They expect $0.64 EPS, up 6.67% or $0.04 from last year's $0.6 per share. BAC's profit will be $4.96B for 12.94 P/E if the $0.47 EPS becomes a reality. On average, equities analysts forecast that Bank of America Corporation will post $1.81 EPS for the current year. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. Therefore 82% are positive. The lowest target is $60.0 while the high is $72.0. Syntel Inc. had 26 analyst reports since August 14, 2015 according to SRatingsIntel. The rating was maintained by Stifel Nicolaus on Thursday, August 3 with "Buy".
In related news, Director Frank P. Bramble sold 86,763 shares of the company's stock in a transaction on Thursday, August 10th. The company was maintained on Friday, April 7 by Wood. (NASDAQ:SYNT), 2 have Buy rating, 0 Sell and 9 Hold.
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More notable recent Bank of America Corp (NYSE:BAC) news were published by: Investorplace.com which released: "3 Big Stock Charts for Thursday: Bank of America Corp (BAC), JPMorgan Chase ..." on September 14, 2017, also Investorplace.com with their article: "Bank of America Corp (BAC) Stock: The Dilemma of Right Stock, Wrong Time" published on September 11, 2017, Businessinsider.com published: "Warren Buffett is now Bank of America's top shareholder" on August 29, 2017. Cowen & Co maintained it with "Hold" rating and $18.0 target in Tuesday, August 22 report. Deutsche Bank maintained it with "Buy" rating and $36.0 target in Friday, January 8 report. "Announces August 31, 2017 Assets Under Management", Wsj.com published: "Invesco Close to Deal for Guggenheim ETF Business" on August 23, 2017. It turned negative, as 62 investors sold BAC shares while 560 reduced holdings. The legal version of this news story can be read at https://www.equitiesfocus.com/2017/09/17/traders-sell-shares-of-bank-of-america-corporation-bac-on-strength-bac.html.
Among 29 analysts covering Bank of America (NYSE:BAC), 19 have Buy rating, 0 Sell and 10 Hold. Therefore 66% are positive. Bank of America Corporation has a 12 month low of $14.81 and a 12 month high of $25.80. Using what are known as momentum indicators, we can use the stock's price momentum to get a sense of whether the stock is in the midst of, or nearing the end of, a current trend. Kimberly-Clark had 43 analyst reports since July 21, 2015 according to SRatingsIntel. As per Tuesday, May 30, the company rating was maintained by Jefferies. The firm has "Hold" rating by Maxim Group given on Friday, July 15. On Monday, April 24 the stock rating was downgraded by Berenberg to "Hold". On Tuesday, July 19 the stock rating was maintained by Citigroup with "Buy". Jacobi Capital Management LLC now owns 6,347 shares of the financial services provider's stock worth $147,000 after buying an additional 1,101 shares during the last quarter. Columbia Prtnrs L L C Inv Management stated it has 0.12% of its portfolio in Bank of America Corp (NYSE:BAC). Societe Generale downgraded the shares of BAC in report on Tuesday, September 13 to "Hold" rating. Kcg invested 0.46% in Bank of America Corp (NYSE:BAC). Robert W. Baird has "Neutral" rating and $18 target.
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