Bank of America earnings boosted by higher interest rates
13 October, 2017, 17:24 | Author: Jeff Stephens
They now have a $27.00 target price on the financial services provider's stock, up from their previous target price of $25.00. Bank of America has $30 highest and $15 lowest target. The rating was maintained by Jefferies on Friday, July 7 with "Buy". First National Bank accumulated 293,926 shares. Bank of America had 86 analyst reports since July 21, 2015 according to SRatingsIntel. The stock of Bank of America Corp (NYSE:BAC) has "Outperform" rating given on Friday, January 29 by Credit Agricole.
Bank of America Corporation (BAC) opened at 25.45 on Monday. The stock has a 50 day moving average of $24.65 and a 200 day moving average of $23.91.
The bank also kept a tight leash on costs. The firm has a market cap of $267.64 billion, a PE ratio of 15.16 and a beta of 1.25.
Bank of America Corporation (NYSE:BAC) last announced its earnings results on Tuesday, July 18th. The financial services provider reported $0.46 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.03.
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Bank of America said its total revenue rose about 1% to $22.08 billion.
Analysts expect Public Storage (NYSE:PSA) to report $2.61 EPS on October, 25.They anticipate $0.10 EPS change or 3.98% from last quarter's $2.51 EPS.
Shares of Bank of America have risen almost 16 percent this year, slightly outperforming the S&P 500 index.
WARNING: This news story was published by TrueBlueTribune and is the sole property of of TrueBlueTribune. If you are viewing this report on another publication, it was illegally copied and republished in violation of United States and global copyright & trademark law. The stock has "Neutral" rating by UBS on Wednesday, August 26.
Bank of America Corporation has a ROA of 0.80%, measuring the amount of profit the company earns on the value of its shares. This buyback authorization authorizes the financial services provider to repurchase up to 8.7% of its shares through open market purchases. Investors of record on Friday, September 1st were paid a dividend of $0.12 per share. Its down 0.03, from 1.15 in 2017Q1. The ex-dividend date was Wednesday, August 30th. Gateway Advisory LLC boosted its position in Bank of America Corporation by 0.4% in the 2nd quarter. Nokota Management Lp bought 3.48 million shares as the company's stock declined 6.00% while stock markets rallied.
Johnson Investment Counsel Inc decreased Owens & Minor Incorporated Holdin (NYSE:OMI) stake by 27,502 shares to 42,514 valued at $1.37 million in 2017Q2. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. (NASDAQ:AAPL) stake by 11,600 shares and now owns 805,199 shares. Barometer Cap Mgmt Inc invested in 867,520 shares. Cullen Frost Bankers, a Texas-based fund reported 495,523 shares. The stock decreased 1.47% or $0.38 during the last trading session, reaching $25.45. Bank of America Corporation's payout ratio is now 28.57%. The rating was maintained by Credit Suisse on Thursday, June 1 with "Buy".
Despite the branch closures in the quarter, consumer deposits continued to grow, rising about $7 billion from the prior quarter, a sign that consumers have flocked to larger consumer banks with more mobile technology capabilities.
Average next regular session additional gain: 1.5%. Gateway Advisory LLC now owns 10,053 shares of the financial services provider's stock valued at $244,000 after buying an additional 45 shares during the last quarter. Apg Asset Mngmt Nv owns 30.05 million shares or 1.32% of their USA portfolio.
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The results were another step in the bank's yearslong rebuilding from the financial crisis and its fallout. This led to growth in profits from consumer banking, wealth and investment management and global banking.
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