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giftedviz.com October 24, 2017


Bank of America 3Q profits rise 13 percent, beat forecasts

14 October 2017, 12:36 | Austin Hogan

Bank of America third-quarter profit rises 13 percent, beat forecasts

Bank of America's third-quarter profit rises 13 percent

The current P/C value outlines the company's ability to generate cash relative to its stock price rather than what it records on earnings relative to its stock price.

A number of other analysts also recently issued reports on BAC. Bank of America Corporation (NYSE:BAC)'s short interest is 120.24 million shares, or 1.14% of the float. Deutsche Bank maintained the shares of BAC in report on Tuesday, August 25 with "Buy" rating.

As of now, Bank of America Corporation has a P/S value of 5.03, measuring P/B at 1.05. Oppenheimer maintained Bank of America Corp (NYSE:BAC) on Tuesday, July 18 with "Buy" rating. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the stock. The insider now holds 1.09 million shares of Bank of America Corporation (BAC). 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 $90.03 billion.

Bank of America Corporation's P/E ratio is measuring at 15.58 with a forward P/E of 12.

Bank of America on Friday reported $5.6 billion in third-quarter profit, an increase of 13 percent for the Charlotte-based bank from the same period a year ago.

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It becomes the latest bank to report third-quarter results. The firm had revenue of $22.80 billion for the quarter, compared to analysts' expectations of $21.84 billion. "Loans were up 6 percent, not quite as high as [JPMorgan] reported yesterday, but margins did improve year over year, which is a very good sign". Bank of America Corporation's revenue for the quarter was up 2.1% compared to the same quarter a year ago. Jefferies Group also issued estimates for Bank of America Corporation's FY2017 earnings at $1.83 EPS, Q1 2018 earnings at $0.45 EPS, Q2 2018 earnings at $0.54 EPS, Q3 2018 earnings at $0.57 EPS and Q4 2018 earnings at $0.57 EPS. Bank Amer Corp now has $272.52B valuation.

COPYRIGHT VIOLATION WARNING: This report was originally published by StockNewsTimes and is the property of of StockNewsTimes. The original version of this news story can be accessed at https://baseballnewssource.com/markets/vetr-inc-upgrades-bank-of-america-corporation-bac-to-hold/1704584.html. The authority will not be liable for anyone who makes stock portfolio or financial decisions as per the editorial, which is based only on limited and open source information. Shares buyback plans are generally an indication that the company's management believes its stock is undervalued. The company was upgraded on Tuesday, September 1 by KBW. Its down 0.03, from 1.15 in 2017Q1. Bryn Mawr has invested 0.08% in M&T Bank Corporation (NYSE:MTB). The ex-dividend date of this dividend was Wednesday, August 30th. Bank of America Corporation's dividend payout ratio is now 28.57%. Finally, Royal Bank Of Canada reiterated a "buy" rating and set a $26.00 price target on shares of Bank of America Corporation in a report on Thursday, July 20th. 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. Anchor Capital Advisors Llc sold 8,343 shares as M & T Bk Corp (MTB)'s stock declined 6.32%. Tarbox Family Office Inc. increased its position in Bank of America Corporation by 0.4% in the second quarter. They expect $2.40 EPS, up 12.68% or $0.27 from last year's $2.13 per share.

Crestwood Advisors Llc increased Bank Amer Corp Com (BAC) stake by 7.81% reported in 2017Q2 SEC filing. Waldron LP now owns 24,550 shares of the financial services provider's stock worth $578,000 after purchasing an additional 12,978 shares during the last quarter. Pekin Singer Strauss Asset Management Il owns 0.11% invested in Bank of America Corp (NYSE:BAC) for 27,640 shares. Schwab Charles Investment Management Inc. now owns 32,935,455 shares of the financial services provider's stock worth $776,948,000 after acquiring an additional 384,349 shares in the last quarter. AQR Capital Management LLC boosted its stake in Bank of America Corporation by 21.3% during the 1st quarter. The firm earned "Buy" rating on Tuesday, May 10 by Chardan Capital Markets. Gateway Investment Advisers Lc reported 29,571 shares stake. Hedge funds and other institutional investors own 61.64% of the company's stock.

"I think this was a fairly strong quarter for Bank of America here", said Stephen Biggar, director of financial institutions research at Argus Research, on CNBC's "Squawk Box ". This led to growth in profits from consumer banking, wealth and investment management and global banking.

To view Vetr's full report, visit Vetr's official website.



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