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Bank of America Corporation (NASDAQ:BAC) To Report Earnings

Bank of America Corporation (NASDAQ:BAC) To Report Earnings

Looking into last 5 trades, the stock observed a return of nearly -2.60%.

BAC has been the topic of a number of other reports.

Analysts have given a mean recommendation of 2.10 on this stock (A rating of less than 2 means buy, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range).

Bank of America Corporation (BAC) stock directed 58.76% toward a higher level throughout previous year and swapped 4.60% toward a strong spot during past one month.

Bank of America's large consumer banking business and wealth management arm mean it is less dependent on trading than rivals such as Goldman Sachs GS.N , which reports third-quarter results, along with Morgan Stanley MS.N , on Tuesday. Credit Agricole upgraded Bank of America Corp (NYSE:BAC) on Friday, January 29 to "Outperform" rating. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company. The stock of Bank of America Corp (NYSE:BAC) earned "Buy" rating by Sandler O'Neill on Wednesday, January 20. Anson Funds Mgmt Ltd Partnership invested 7.16% of its portfolio in Bank of America Corp (NYSE:BAC). 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.

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"Hurricane effects are clearly visible - higher gasoline prices boosted gasoline station sales 5.8% MoM [month-on-month] while the fact unit vehicle sales rose to a 12 year high helped boost the value of sales with a 3.6%MoM rise", said James Knightley, chief worldwide economist at ING. Panagora Asset Mgmt Incorporated holds 1.04% or 2.24 million shares in its portfolio. Nippon Life Global Investors Americas has invested 2.63% in Bank of America Corp (NYSE:BAC). The financial services provider reported $0.46 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.03.

Revenue also topped expectations, rising from US$21.86bn a year earlier to US$22.08bn, versus expectations of US$21.98bn. Earnings per share rose to 48 cents from 41 cents.

The bank also said, however, its fixed-income trading revenue fell 22 percent on a year-over-year basis.

TRADEMARK VIOLATION WARNING: This piece of content was originally reported by BBNS and is the sole property of of BBNS. If you are reading this news story on another site, it was stolen and republished in violation of United States and global trademark and copyright law. The original version of this piece of content can be accessed at https://baseballnewssource.com/markets/citigroup-inc-reiterates-neutral-rating-for-bank-of-america-corporation-bac/1704355.html. The stock has $10.38B outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 4.8% of its shares through open market purchases. It fall, as 79 investors sold BAC shares while 543 reduced holdings. Shareholders of record on Friday, September 1st were paid a $0.12 dividend. The company was maintained on Wednesday, August 30 by Needham. This is an increase from Bank of America Corporation's previous quarterly dividend of $0.08. Bank of America Corporation's payout ratio is now 28.57%. Tracking the stock price in relation to moving averages as well as highs and lows for the year might assist with evaluating future stock performance. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Duncker Streett And Company holds 109,724 shares or 0.83% of its portfolio. The stock grabbed 117 new institutional investments totaling 32,392,484 shares while 88 institutional investors sold out their entire positions totaling 32,452,495 shares. M Holdings Securities Inc. boosted its holdings in shares of Bank of America Corporation by 72.9% during the first quarter. Huber Capital Management LLC raised its holdings in Bank of America Corporation by 2.8% during the second quarter. YHB Investment Advisors Inc. now owns 161,450 shares of the financial services provider's stock valued at $3,917,000 after buying an additional 23,729 shares in the last quarter. Jefferies maintained the stock with "Buy" rating in Friday, July 7 report. Waldron LP now owns 24,550 shares of the financial services provider's stock valued at $578,000 after buying an additional 12,978 shares in the last quarter. Welch Group LLC boosted its position in Bank of America Corporation by 0.4% in the 1st quarter. Finally, UBS Oconnor LLC raised its holdings in Bank of America Corporation by 169.0% during the second quarter. Arbor Investment Advisors LLC now owns 14,328 shares of the financial services provider's stock valued at $348,000 after buying an additional 46 shares during the last quarter. Institutional investors own 61.64% of the company's stock.