Bank of America Corporation (BAC) Reached a New 52-Week High

Monday, 23 Oct, 2017

Hot Stocks Point (HSP) makes sure to keep the information up to date and correct, but we didn't suggest or recommend buying or selling of any financial instrument unless that information is subsequently confirmed on your own. Armbruster Capital Management Inc. increased its holdings in Bank of America Corporation by 10.8% during the first quarter. Bank Amer Corp now has $286.66B valuation.

Bank of America Corporation (NYSE:BAC) traded up 2.22% on Friday, reaching $27.17. Volume is the basic fuel of the market since stocks move up or down in price only when shares are trading hands. Zacks Investment Research cut Bank of America Corporation from a "hold" rating to a "sell" rating in a research report on Tuesday, October 10th. It has outperformed by 41.94% the S&P500.

Manufacturers Life Insurance Company The decreased Stryker Corp (SYK) stake by 20.06% reported in 2017Q2 SEC filing. The Tiger Management Llc holds 678,300 shares with $16.46M value, down from 712,300 last quarter. Weyerhaeuser Co now has $26.56 billion valuation. The stock increased 0.24% or $0.42 during the last trading session, reaching $174.98. It is down 58.64% since October 23, 2016 and is uptrending. It has underperformed by 7.76% the S&P500. The dividend yield was $1.77. Kcm Lc accumulated 1,515 shares or 0.01% of the stock. 64 funds opened positions while 258 raised stakes. For the most recent quarter, quick ratio was 0, current ratio was 0, LT Debt/Equity ratio was 0.83 and Total Debt/Equity ratio stands at 1.85, while Payout ratio is 0.16. Weik Inv has 21,260 shares. Guardian LP accumulated 934,543 shares. New York-based Bnp Paribas Arbitrage has invested 0.5% in Bank of America Corp (NYSE:BAC). Bessemer has invested 0% in Weyerhaeuser Co (NYSE:WY). It also upped Bristol Myers Squibb (NYSE:BMY) stake by 6,235 shares and now owns 191,728 shares. Forward Mngmt Limited Liability Company stated it has 98,800 shares. 23,259 are held by Stonebridge Capital Advisors Ltd Com. 637,959 were reported by Kentucky Retirement. Schwab Charles Management holds 0.75% or 33.11 million shares. Barometer Capital Mgmt owns 8,100 shares. Halsey Assoc Ct has 0.08% invested in Weyerhaeuser Co (NYSE:WY). Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. Therefore 54% are positive. Weyerhaeuser Company had 30 analyst reports since September 11, 2015 according to SRatingsIntel. The stock has "Hold" rating by TD Securities on Wednesday, September 21. The firm has "Neutral" rating given on Friday, November 13 by Goldman Sachs. Robert W. Baird downgraded it to "Neutral" rating and $18 target in Wednesday, November 16 report. The company presently has an average rating of "Buy" and a consensus target price of $25.47. The rating was maintained by RBC Capital Markets on Friday, October 6 with "Buy". The company was maintained on Thursday, April 13 by BMO Capital Markets. Craig Hallum downgraded the shares of SYNC in report on Thursday, August 10 to "Hold" rating. The firm has "Buy" rating given on Monday, September 4 by RBC Capital Markets. Juniper Networks Inc (NYSE:JNPR) was reduced too. It also upped Spdr Series Trust (SCPB) stake by 10,227 shares and now owns 808,811 shares. Ishares Tr (TIP) was raised too.

Investors sentiment increased to 1.4 in Q2 2017. Its down 0.03, from 1.15 in 2017Q1. It worsened, as 79 investors sold BAC shares while 543 reduced holdings. 120 funds opened positions while 577 raised stakes. Intersect Cap Ltd Liability Com accumulated 26,131 shares. As of December 31, 2016, its Retail business unit marketed crop nutrients, crop protection products, seed, merchandise, application and other agronomic services through 1,500 retail locations in the United States, Canada, Australia, Argentina, Brazil, Chile and Uruguay. Janney Management Ltd reported 24,892 shares. Sumitomo Mitsui Hldg Inc reported 30.34M shares.

Bank of America Corporation is a bank holding company and a financial holding company. Carret Asset Llc stated it has 0.76% of its portfolio in Bank of America Corp (NYSE:BAC). The Metals segment includes mining, processing and refining nickel and cobalt from lateritic ore bodies, through the partnership with General Nickel Company S.A. of Cuba; an interest in the Ambatovy Joint Venture that owns a nickel operation in Madagascar. Dimensional Fund Advsrs Lp holds 0.64% or 56.96 million shares.

Bank of America Corporation (BAC) traded up 2.22% during midday trading on Friday, hitting $27.17. Theleme Prns Llp reported 25.58% of its portfolio in Bank of America Corp (NYSE:BAC). Moreover, Davidson Investment Advsr has 1.57% invested in Bank of America Corp (NYSE:BAC) for 459,914 shares. 274.21 million shares or 0.36% more from 273.22 million shares in 2017Q1 were reported. Institutional investors and hedge funds own 61.61% of the company's stock.

Among 30 analysts covering Bank of America (NYSE:BAC), 20 have Buy rating, 0 Sell and 10 Hold. Therefore 67% are positive.

10/09/2017 - Bank of America Corporation had its "outperform" rating reiterated by analysts at Credit Suisse. A thoroughly researched analyst report will typically provide detailed reasoning for a specific target price estimate. The firm has "Outperform" rating by Oppenheimer given on Tuesday, October 6.

Bank of America Corporation announced that its Board of Directors has authorized a share buyback plan on Wednesday, June 28th that permits the company to repurchase $12.00 billion in shares. As per Friday, August 25, the company rating was upgraded by Needham. The stock of Stryker Corporation (NYSE:SYK) has "Hold" rating given on Tuesday, September 5 by Jefferies.

Since May 11, 2017, it had 0 insider buys, and 1 sale for $568,100 activity. The company was upgraded on Tuesday, September 1 by KBW.