Saturday, 21 October, 2017

BofA Posts Best Profit in 6 Years as Rising Rates Lift Revenue

Price to Earnings (P/E) Evaluation: Amgen Inc., (NASDAQ: AMGN) Bank of America's third-quarter profit rises 13 percent
Preston Stone | 13 October, 2017, 17:07

This repurchase authorization authorizes the financial services provider to repurchase up to 4.8% of its shares through open market purchases.

BAC has been the subject of a number of analyst reports. The stock of Bank of America Corp (NYSE:BAC) has "Buy" rating given on Wednesday, October 7 by Jefferies.

Among 19 analysts covering PepsiCo (NYSE:PEP), 8 have Buy rating, 0 Sell and 11 Hold.

Among 29 analysts covering Bank of America (NYSE:BAC), 19 have Buy rating, 0 Sell and 10 Hold.

Avenir Corp increased Bank Amer Corp (BAC) stake by 20.59% reported in 2017Q2 SEC filing. Finally, Keefe, Bruyette & Woods restated an overweight rating on shares of Bank of America Corporation in a report on Thursday, July 13th. The stock presently has an average rating of Buy and an average target price of $24.88. Bank of America Corp (NYSE:BAC) has risen 58.64% since October 13, 2016 and is uptrending. Bank of America has $30 highest and $15 lowest target. The shares price go up so far this year; showing a rise of 15.16% and dropped with negative flow of -2.60% during recent week. Analysts' estimates typically exclude special items. Amica Retiree Med has invested 0.7% in Bank of America Corp (NYSE:BAC).

Revenues edged up 0.9 percent to $21.8 billion.

Net interest income of $11.2 billion gained $1.0 billion from the year-ago period, helped by higher interest rates and loan and deposit growth.

Average next regular session additional loss: 1.5%.

Royal Mail wins High Court injunction preventing planned strike action
Royal Mail has won a High Court injunction preventing next week's 48-hour strike by postal workers. The hearing at the High Court in London was scheduled to start at 10:30 am this morning.

WARNING: This news story was published by TrueBlueTribune and is the sole property of of TrueBlueTribune. If you are reading this report on another website, it was illegally stolen and reposted in violation of United States and global trademark and copyright laws. Bank Amer Corp now has $270.20B valuation. The financial services provider reported $0.46 earnings per share for the quarter, topping the Zacks' consensus estimate of $0.43 by $0.03. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th.

Investors sentiment decreased to 1.12 in Q2 2017. The ex-dividend date was Wednesday, August 30th.

"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 ".

Since April 28, 2017, it had 0 insider buys, and 1 insider sale for $337,775 activity.

In other news, Director Frank P. Bramble sold 86,763 shares of the business's stock in a transaction dated Thursday, August 10th.

Golub Group Llc, which manages about $1.01 billion and $1.05 billion US Long portfolio, upped its stake in Ishares Tr (TIP) by 10,187 shares to 419,517 shares, valued at $47.59M in 2017Q2, according to the filing. And Management owns 100 shares or 0% of their U.S. portfolio. M Holdings Securities Inc. boosted its holdings in shares of Bank of America Corporation by 72.9% during the first quarter. Teachers Retirement Of The State Of Kentucky owns 0.01% invested in Clean Harbors Inc (NYSE:CLH) for 8,530 shares. YHB Investment Advisors Inc. raised its position in shares of Bank of America Corporation by 17.2% in the second quarter. Moving toward the technical facts, its current distance from 20-Day Simple Moving Average is 0.53% and standing 3.87% away from 50-Day Simple Moving Average while traded up 6.81% from 200-Day Simple Moving Average. The shares price has positioned 5.12% up over the past quarter while it has directed 13.92% toward a rising position throughout past six months. Fmr Limited Company stated it has 1% in Bank of America Corp (NYSE:BAC). Finally, UBS Oconnor LLC raised its holdings in Bank of America Corporation by 169.0% during the second quarter. Third-quarter fixed-income revenue totaled $2.152 billion versus $2.646 billion in the year-earlier period. 36,639 are held by Lincoln National Corporation.

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