Recent insider trends for Bank of America Corporation (NYSE:BAC) have caught the attention of investors. The Company is a financial institution, serving individual consumers and others with a range of banking, investing, asset management and other financial and risk management products and services. APG Asset Management N.V. now owns 30,054,575 shares of the financial services provider's stock worth $729,124,000 after acquiring an additional 3,868,186 shares in the last quarter. Bank Amer Corp now has $273.84 billion valuation. Gemmer Asset Management Ltd Company, California-based fund reported 10,710 shares. Moreover, Group One Trading Limited Partnership has 0.02% invested in Bank of America Corp (NYSE:BAC). Waldron LP now owns 24,550 shares of the financial services provider's stock valued at $578,000 after purchasing an additional 12,978 shares during the period. First National Trust Co. now owns 106,178 shares of the financial services provider's stock valued at $2,505,000 after purchasing an additional 34,555 shares during the period.
Green Valley Investors Llc increased Nike Inc (NKE) stake by 21.6% reported in 2017Q2 SEC filing.
Shares of Bank of America rose 0.8 percent in pre-market trading to $25.65. The firm has a 50-day moving average of $24.65 and a 200-day moving average of $23.91.
Total revenue grew by 1% to US$22.08bn from US$21.86nm, a year earlier, again beating Wall Street's expectations for US$21.98bn. $1.12M worth of M&T Bank Corporation (NYSE:MTB) was sold by Gold Richard S on Friday, June 9.
Bank of America Corp (NYSE:BAC) shares were on the up, after releasing its third quarter profits shot up by 15% on the back of lower costs and higher interest rates.
Analysts had expected the company to earn $0.45 per share, according figures compiled by Thomson Reuters. The Johnson Investment Counsel Inc holds 81,455 shares with $1.98M value, up from 39,907 last quarter. The Lombard Odier Asset Management Switzerland Sa holds 40,777 shares with $989,000 value, down from 54,899 last quarter. Stellar Cap Mgmt Lc holds 3.91% of its portfolio in Bank of America Corp (NYSE:BAC) for 221,843 shares. Stockholders of record on Friday, September 1st were paid a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. Its down 0.07, from 1.07 in 2017Q1. The rate the bank paid on USA interest-bearing deposits was 0.24%, compared with a rock-bottom 0.11% in the prior quarter. Bank of America Corporation's dividend payout ratio (DPR) is 28.57%.
Bank of America Corporation declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, June 28th that authorizes the company to buyback $12.00 billion in outstanding shares. Advisory Serv Inc holds 0.15% of its portfolio in Bank of America Corp (NYSE:BAC) for 20,583 shares. Pacific Glob Invest Mgmt owns 253,232 shares or 1.41% of their USA portfolio. The stock decreased 1.47% or $0.38 during the last trading session, reaching $25.45. If you are reading this piece on another domain, it was copied illegally and reposted in violation of USA and worldwide trademark & copyright law. If you are viewing this story on another domain, it was illegally stolen and republished in violation of USA and worldwide copyright and trademark legislation. 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.
BAC has been the subject of a number of other reports. JPMorgan reported revenue of $26.2 billion and an EPS of $1.76. Bank of America Corp (NYSE:BAC) has risen 58.64% since October 13, 2016 and is uptrending. The firm earned "Buy" rating on Friday, August 18 by RBC Capital Markets.
Among 6 analysts covering KEYW Holding (NASDAQ:KEYW), 3 have Buy rating, 0 Sell and 3 Hold. Bank of America had 86 analyst reports since July 21, 2015 according to SRatingsIntel.
Among 23 analysts covering M&T Bank (NYSE:MTB), 4 have Buy rating, 4 Sell and 15 Hold.
Along with growing revenue through higher interest rates, Bank of America was able to cut its expenses.