Bank of America makes record profit after tax cuts

The stock increased 0.09% or $0.05 during the last trading session, reaching $53.89.

The Apple Inc. exchanged hands with 25095729 shares compared to its average daily volume of 38.64M shares. KeyBanc Capital Markets maintained Netflix, Inc. (BAC) stake by 8.47% reported in 2017Q4 SEC filing. Beech Hill Advsr Inc accumulated 105,404 shares or 1.54% of the stock. Bank Of America Corp. now has $304.68 billion valuation. The stock witnessed -7.28% declines, -2.8% declines and 15.37% gains for the 1-month, 3-month and 6-month period, respectively. The Stock has market cap of $312370.74M and relative volume of 1.3.In addition to price, analysts use volume trends to predict future performance.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Monday, April 16th. Vining Sparks’ target price suggests a potential upside of 16.94% from the stock’s previous close. Analysts are expecting that the company may be attaining earnings growth of 21.53% for next five years.

Keefe Bruyette Woods’ Brian Kleinhanzl reiterated an Outperform rating and $35 price target on the shares, writing that investors fears about deposit betas were likely eased by the results, although loan growth missed expectations. On Tuesday, January 2 the stock of Bank of America Corporation (NYSE:BAC) has “Hold” rating given by Robert W. Baird. The company was maintained on Friday, February 2 by Morgan Stanley. The company was maintained on Thursday, August 10 by Wells Fargo. On Friday, March 16 the stock has “Outperform” rating by Credit Suisse. BMO Capital Markets maintained it with “Hold” rating and $21 target in Wednesday, April 12 report.

During Q4 2017 the big money sentiment increased to 1.19. It has dividend yield of 1.61% and Payout Ratio is 23.80%. 66 investors sold all, 561 reduced holdings as BAC ratio is positive. 41 funds opened positions while 73 raised stakes. The company is expected to reports results after the closing bell on Monday. Its quick ratio for the most recent quarter is 0.40. State Board Of Administration Of Florida Retirement System invested 1.1% in Bank of America Corporation (NYSE:BAC). Caprock Grp Inc Inc, Idaho-based fund reported 47,228 shares.

Cubist Systematic Strategies Lc holds 0.11% or 71,416 shs. (NYSE:THO) or 88,270 shares. Signature Fin Mngmt, a Virginia-based fund reported 11,516 shares.

The bank’s book value per share amounted to $23.74, while tangible book value per share was $16.84, compared to $24.34 per share and $17.22 per share, respectively, in the year-ago quarter. Clifford Swan Inv Counsel holds 82,019 shares or 0.13% of its portfolio. Hwg LP reported 0.16% stake. Massmutual Trust Fsb Adv invested in 0% or 20 shares. Hedeker Wealth Ltd invested in 3.47% or 151,055 shares. Pure Financial Advsr invested in 0.08% or 11,547 shs. (NASDAQ:NFLX) shares. The insider Peters Gregory K sold $2.13M. Ctc Llc who had been investing in Netflix Inc for a number of months, seems to be bullish on the $135.24B market cap company.

Bank of America Corp. said Monday that a boost from the US 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. Therefore 73% are positive.

The analysts wrote, “Bank of America’s strong fundamental earnings momentum the impact of tax reform continues to validate our expectations for 45% earnings growth in 2018E”.

Bank of America said it made a record $6.9 billion in profit during the first three months of the year as the bank got a lift from rising interest rates and new cuts to corporate taxes. The rating was initiated by Compass Point with “Neutral” on Tuesday, July 26. Nine research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. As per Tuesday, November 8, the company rating was downgraded by Deutsche Bank. On Wednesday, December 6 the rating was maintained by RBC Capital Markets with “Buy”. Nomura maintained Bank of America Corporation (NYSE:BAC) rating on Monday, October 16. A rating of a 1 or a 2 would signify a mean Buy view.

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