Bank of America's earnings top expectations, excluding tax charge; shares rise

Andrew Cummings
January 17, 2018

Teachers Retirement System Of The State Of Kentucky who had been investing in Bank Of America Corp for a number of months, seems to be bullish on the $325.85B market cap company. It also returned $17 billion to shareholders a year ago via dividend payments and stock repurchases. 107,415,048 shares of the stock traded hands, compared to its average volume of 65,399,992.

Bank of America (NYSE:BAC) last posted its earnings results on Wednesday, January 17th. During the same quarter last year, the firm earned $0.40 earnings per share. analysts predict that Bank of America will post 1.79 earnings per share for the current year. Stock repurchase plans are usually an indication that the company's leadership believes its stock is undervalued. The biggest holder now is Mr. Thomas K. Montag who owns 1,548,615 shares (0.01% of those outstanding), whilst Kenneth D Lewis holds 1,430,026 (0.01% of shares outstanding) and Mr. Brian T. Moynihan holds 1,073,505 (0.01% of shares outstanding). Institutional investors own 68.46% of the company's stock. The stock increased 0.52% or $0.4 during the last trading session, reaching $77.51. About 86.70M shares traded or 28.03% up from the average. (NASDAQ:SBGI) has risen 12.28% since January 17, 2017 and is uptrending. It has outperformed by 64.53% the S&P500.


North Star Investment Management Corp, which manages about $789.57M US Long portfolio, decreased its stake in Gabelli Divd & Income Tr Com (NYSE:GDV) by 27,418 shares to 41,925 shares, valued at $939,000 in 2017Q3, according to the filing. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Boot Barn Holdings had 40 analyst reports since September 30, 2015 according to SRatingsIntel. As per Wednesday, October 18, the company rating was maintained by BMO Capital Markets. The stock of Boot Barn Holdings, Inc. Mizuho maintained the shares of TTWO in report on Friday, November 6 with "Buy" rating. The firm has "Overweight" rating given on Thursday, April 7 by JP Morgan. Cowen & Co has "Hold" rating and $47.0 target. The company was maintained on Friday, August 25 by Robert W. Baird. The firm has "Buy" rating by Jefferies given on Monday, October 10. RIley upgraded Boot Barn Holdings, Inc. DA Davidson has "Buy" rating and $156.0 target. On Monday, August 24 the stock rating was upgraded by KBW to "Outperform".

Investors sentiment decreased to 0.8 in Q3 2017. Its up 0.25, from 1.1 in 2017Q2. These holdings make up 69.28% of the company's outstanding shares. 125 funds opened positions while 492 raised stakes. Neuberger Berman Gru Ltd Liability Corporation reported 1.32 million shares. Cullen Frost Bankers Inc holds 681,514 shares or 0.57% of its portfolio. (NYSE:NKE) or 10,000 shares. Columbia Ptnrs L L C Investment Mngmt holds 21,595 shares. The Pennsylvania-based First National Trust has invested 0.04% in Kohl's Corporation (NYSE:KSS). Mount Vernon Associates Inc Md holds 88,304 shares. Zwj Investment Counsel reported 110,111 shares stake. Therefore 43% are positive. Bank of America's dividend payout ratio (DPR) is presently 27.91%. Bank of America has a consensus rating of Buy and a consensus price target of $29.14. The company was downgraded on Thursday, January 5 by Telsey Advisory Group.


Bank of America announced that its Board of Directors has approved a share repurchase plan on Tuesday, December 5th that authorizes the company to buyback $5.00 billion in outstanding shares. Finally, BidaskClub cut Bank of America from a "strong-buy" rating to a "buy" rating in a research report on Thursday, November 9th.

Bank of America Corp. once excited investors by pledging steep cost cuts by the end of this year. S&P Research maintained the shares of NKE in report on Monday, September 28 with "Buy" rating. The company was maintained on Wednesday, January 11 by Citigroup. Royal Bank of Canada reissued a buy rating and set a $30.00 price objective on shares of Bank of America in a report on Friday, December 8th.


Moynihan also reiterated that the bank invested in its own employees in 2017. Its up 0.08, from 0.86 in 2017Q2. It fall, as 68 investors sold BAC shares while 569 reduced holdings. 117 funds opened positions while 547 raised stakes. St Johns Inv Ltd invested in 105,721 shares or 1.96% of the stock. Cornerstone Invest Llc has invested 0.06% in Kohl's Corporation (NYSE:KSS). Americafirst Management Ltd Liability Corp reported 0.4% stake. Murphy Pohlad Asset Lc has 1.17% invested in Bank of America Corporation (NYSE:BAC). Afam Cap has invested 0.53% in Kohl's Corporation (NYSE:KSS). Cibc Fincl Bank Usa holds 0.24% of its portfolio in Bank of America Corporation (NYSE:BAC) for 71,328 shares. South Dakota Investment Council holds 1.93M shares. Great Lakes Lc owns 2.54 million shares. Cognios Cap Ltd Liability Corporation holds 0.09% or 8,737 shares. Carderock Capital accumulated 1.38% or 59,072 shares.

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