Bank of America discloses record profit

16 April, 2018, 18:29 | Author: Regina Silva
  • Bringing Costs Down       Bank of America posted its lowest expense-to-revenue ratio in years              Source Company filings

Berkshire Hathaway Incorporated owns 679.00 million shares.

Lourd Capital Llc's stake in Bank Amer Corp (BAC) is rose by 102.72% based on its latest 2017Q4 regulatory filing with the SEC. The hedge fund run by Scott Burney held 5.00M shares of the major banks company at the end of 2017Q4, valued at $108.18 million, up from 2.44 million at the end of the previous reported quarter.

Bank of America Corp.

BAC traded down $0.85 during midday trading on Friday, hitting $29.80. About 99.25 million shares traded or 29.22% up from the average.

"Strong client activity, coupled with a growing global economy and solid United States consumer activity, led to record quarterly earnings", said Bank of America chief executive Brian Moynihan. It has outperformed by 16.63% the S&P500.

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In total 13 analysts cover Bank of America (NYSE:BAC). The positive are 77%. American River Bankshares had 5 analyst reports since January 29, 2016 according to SRatingsIntel. The stock has "Outperform" rating by Oppenheimer on Tuesday, October 6. On Wednesday, April 4 the firm has "Buy" rating by Keefe Bruyette & Woods given. American River Bankshares (NASDAQ:AMRB) has risen 0.23% since April 16, 2017 and is uptrending. The stock of Bank of America Corporation (NYSE:BAC) has "Buy" rating given on Tuesday, September 1 by Robert W. Baird. On Wednesday, November 1 the firm has "Overweight" rating by JP Morgan given. On Friday, January 19 Sandler O'Neill maintained the shares of BAC in report with "Buy" rating. Societe Generale has "Hold" rating and $33.0 target.

Investors sentiment decreased to 1.17 in 2017 Q4. 66 investors sold all, 561 reduced holdings as BAC ratio improved. 3 funds opened positions while 11 raised stakes. Maltese Limited Liability Corp reported 2.12% in Bank of America Corporation (NYSE:BAC).

Bank of America (NYSE:BAC) last announced its earnings results on Monday, April 16th. Korea Inv has invested 1.22% in Bank of America Corporation (NYSE:BAC). Birinyi Assocs has 0.21% invested in Bank of America Corporation (NYSE:BAC). 56,756 were reported by Green Square Limited Liability. Wealthfront stated it has 12,454 shares or 0.03% of all its holdings. After having $0.47 EPS previously, Bank of America Corporation's analysts see 25.53 % EPS growth. Regal Invest Advisors Ltd Company invested 0.4% in Bank of America Corporation (NYSE:BAC). Spc Inc holds 0.1% or 14,388 shares in its portfolio. Perigon Wealth Mngmt Lc holds 0.09% or 8,153 shares. Rafferty Asset Limited invested in 1.09% or 2.14M shares. James Invest Rech owns 62,080 shares for 0.06% of their portfolio. The stock increased 0.78% or $2.4 during the last trading session, reaching $311.65. It is down 0.00% since April 16, 2017 and is. It has underperformed by 11.55% the S&P500.

Goldman Capital Management Inc holds 3.44% of its portfolio in Mattersight Corporation for 1.40 million shares. Investors holded 6.91 billion in 2017Q3 but now own 6.85 billion shares or 0.98% less. Sol Capital Management Co sold 15,652 shares as Bank Of America Corp. National Bank & Trust Of Nova Scotia, a Ontario - Canada-based fund reported 3.37M shs. The company has market cap of $1.08 billion. The firm provides predictive behavioral routing and workstyle, performance management, quality assurance, predictive analytics, and marketing managed services that analyzes and predicts customer behavior based on the language exchanged between agents and clients during brand interactions to enhance customer satisfaction and retention, employee engagement, and operating efficiency. The financial services provider reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.44 by $0.03. The size of the bank's loan book rose just slightly last quarter.

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