Bank of America Corporation Q1 Income Advances

Laura Cavanaugh

Laura Cavanaugh

1ST Source Bank now owns 81,124 shares of the financial services provider's stock worth $2,056,000 after buying an additional 3,690 shares in the last quarter.

The stock increased 4.88% or $0.1 during the last trading session, reaching $2.15. About 11.73M shares traded. Bank of America Corporation (NYSE:BAC) has risen 28.18% since April 16, 2017 and is uptrending. It has outperformed by 4.07% the S&P500.

The stake In Bank Amer Corp (BAC) was rose held by Lourd Capital Llc.

BofA's trading revenue was up only 1 percent. Bank Of America Corp now has $304.68 billion valuation. The stock decreased 1.29% or $0.76 during the last trading session, reaching $58.07. 99,254,533 shares of the company's stock were exchanged, compared to its average volume of 69,778,968. Bank of America had 109 analyst reports since July 21, 2015 according to SRatingsIntel. It has outperformed by 16.63% the S&P500. "And we continue to get our fair share in that environment", Mr. Moynihan said on a call with analysts. However, company executives on Monday said Bank of America still ranks among the largest USA taxpayers. On Wednesday, December 6 the rating was maintained by RBC Capital Markets with "Buy". The firm has "Mkt Perform" rating by Raymond James given on Friday, December 16. On Wednesday, January 17 the company was maintained by BMO Capital Markets. Bouchey Grp Inc has 47,343 shares. M&T Bancorp owns 4,641 shares for 0% of their portfolio. This represents a $0.48 annualized dividend and a yield of 1.61%. Pettyjohn Wood White invested in 126,201 shares.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BAC. 344.43 million shares or 3.28% less from 356.10 million shares in 2017Q3 were reported. Summit Secs Ltd Co has invested 0.04% in Thor Industries, Inc. Jacobs Levy Equity Inc holds 0.23% in Thor Industries, Inc. Rand Wealth Ltd Liability Com holds 147,180 shares or 0.48% of its portfolio. Fincl Management Professionals holds 0.04% of its portfolio in Bank of America Corporation (NYSE:BAC) for 2,854 shares. The Wisconsin-based Sii Invs Inc Wi has invested 0.05% in Netflix, Inc. Pcj Investment Counsel Ltd reported 0.16% stake. Argyle Capital Mgmt stated it has 140,960 shares or 1.56% of all its holdings. Segall Bryant Hamill Limited Liability Corp, a Illinois-based fund reported 41,490 shares. Aureus Asset Mngmt Ltd Liability Company owns 10,798 shs. 886,928 are held by Thrivent Financial For Lutherans. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.90 and a current ratio of 0.91.

Lourd Capital Llc has cut its stake in and also reduced its holding in by shares in the quarter, for a total of shares.

Bank of America Corp. said Monday that a boost from the USA tax law and continued rising interest rates helped push first-quarter profit 30% higher, extending the string of better-than-expected results from the nation's biggest banks.

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Meanwhile, investment banking fees fell by 15 per cent to $1.4bn for the quarter compared to a strong period past year. BAC's profit will be $6.03B for 12.63 P/E if the $0.59 EPS becomes a reality.

This quarter is the first time investors have a chance to see exactly how much the recent tax law is helping the bank's bottom line.

Investors sentiment increased to 1.16 in 2017 Q4. Its up 0.15, from 1.04 in 2017Q3. 585 increased holdings while 162 funds bought holdings. Beech Hill Advsr Inc accumulated 105,404 shares or 1.54% of the stock.

Analysts await Mattersight Corporation (NASDAQ:MATR) to report earnings on May, 8. The rate Bank of America paid on USA interest-bearing deposits was 0.30%, only a slight rise from 0.27% in the prior quarter. C M Bidwell & Assoc Limited has invested 0.37% in Bank of America Corporation (NYSE:BAC). Whittier Tru Com holds 0.15% or 145,378 shares. Pacific Ridge Partners Ltd holds 260,829 shares or 1.05% of its portfolio. Kistler reported 14,906 shares.

Q1 2018 Supplemental Information Bank of America reported its first-quarter 2018 financial results today.

After billions in fines and payouts to regulators and investors in the years after the financial crisis, Bank of America has moved away from securitizing and servicing residential mortgages. Alphaone Invest Lc holds 11,000 shares. Van Cleef Asset Managementinc holds 36,742 shares or 0.27% of its portfolio. Finemark Natl Comml Bank has 0.1% invested in Bank of America Corporation (NYSE:BAC) for 52,726 shares. Therefore 0 are positive. Morgan Stanley maintained it with "Overweight" rating and $37 target in Friday, February 2 report. The rating was maintained by Credit Suisse with "Outperform" on Friday, March 16. The firm has "Buy" rating by Societe Generale given on Wednesday, January 11. The company was downgraded on Tuesday, September 13 by Societe Generale. On Thursday, December 21 the stock has "Buy" rating by Keefe Bruyette & Woods.

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