How Have Institutional Investors Been Trading Bank of America Corporation (BAC)?

Saturday, 13 Jan, 2018

During the same quarter last year, the company earned $0.41 EPS. equities research analysts expect that Bank of America Corp will post 1.79 earnings per share for the current fiscal year. About 1.08 million shares traded. (NYSE:HY) has risen 21.22% since January 11, 2017 and is uptrending. It has outperformed by 88.50% the S&P500.

Toron Capital Markets Inc decreased its stake in Telus Corp (TU) by 3.16% based on its latest 2017Q3 regulatory filing with the SEC. Knightsbridge Asset Management Llc bought 62,487 shares as the company's stock declined 6.00% while stock markets rallied. The institutional investor held 1.68 million shares of the telecommunications equipment company at the end of 2017Q3, valued at $60.17 million, down from 1.73M at the end of the previous reported quarter. Odey Asset Management Group Ltd who had been investing in Bank Amer Corp for a number of months, seems to be bullish on the $318.66 billion market cap company. The stock decreased 0.10% or $0.03 during the last trading session, reaching $30.52. Almost 63.37 million shares were traded by the close, lower than its average daily volume of 67.48 million shares. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange. It has outperformed by 41.94% the S&P500.

Resolution Capital Ltd, which manages about $2.93 billion and $2.17 billion US Long portfolio, decreased its stake in Alexandria Real Estate Eq In (NYSE:ARE) by 97,711 shares to 997,576 shares, valued at $118.68 million in 2017Q3, according to the filing.

Since August 10, 2017, it had 0 insider purchases, and 1 sale for $2.10 million activity. Welch & Forbes Limited Co has invested 0.48% in Bank of America Corporation (NYSE:BAC). Therefore 47% are positive. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. The stock has "Outperform" rating by Oppenheimer on Saturday, September 5. On Friday, September 29 the stock rating was maintained by Nomura with "Buy". Ironwood Counsel Ltd invested 1.31% in 3M Company (NYSE:MMM).

Bank of America announced that its Board of Directors has initiated a stock buyback program on Tuesday, December 5th that authorizes the company to buyback $5.00 billion in shares. On Monday, August 24 the stock rating was upgraded by KBW to "Outperform". Keefe Bruyette & Woods maintained it with "Buy" rating and $34.0 target in Tuesday, December 12 report. On Tuesday, July 18 the stock rating was maintained by RBC Capital Markets with "Buy". Citigroup maintained the stock with "Neutral" rating in Monday, October 9 report. The news release, supplemental filing and investor presentation can be accessed in the following ways: Investor Conference Call Information For a listen-only connection to the investor presentation, dial 1.877.200.4456 (U.S.) or 1.785.424.1732 (international). Its down 0.08, from 1.12 in 2017Q2. 101 funds opened positions while 417 raised stakes. 811.15 million shares or 1.86% less from 826.54 million shares in 2017Q2 were reported. Brighton Jones Llc, Washington-based fund reported 61,611 shares. Brighton Jones Ltd Liability Corp reported 0.2% stake. The Wellington Management Group Llp holds 29,745 shares with $622,000 value, down from 159,129 last quarter. Moreover, Point72 Asia (Hong Kong) has 0.12% invested in Bank of America Corporation (NYSE:BAC) for 6,930 shares. The institutional investor owned 682,509 shares of the financial services provider's stock after purchasing an additional 160,029 shares during the period. Duff & Phelps Investment Management accumulated 111,135 shares. Advsr Capital Mgmt Lc invested in 518,432 shares. Analysts have placed a $31.55 price target on Bank of America Corporation, suggesting a 3.27% gain from recent close.

Investors sentiment decreased to 0.99 in 2017 Q3. California State Teachers Retirement Sys owns 16,534 shares for 0% of their portfolio. Of those analysts, 10 rate stock as a Strong Buy, 8 rate it as Hold, and just no analyst rates it as a Moderate Sell. Therefore 75% are positive. Alpha Omega Wealth Management LLC's holdings in Bank of America were worth $546,000 at the end of the most recent reporting period. The company was downgraded on Wednesday, January 11 by UBS. BMO Capital Markets maintained it with "Buy" rating and $72.0 target in Friday, October 13 report. The company was maintained on Friday, April 7 by Wood. (NYSE:SPG) on Monday, March 27 with "Buy" rating. On Tuesday, February 7 the stock rating was upgraded by National Bank Canada to "Outperform". The stock has "Buy" rating by RBC Capital Markets on Friday, October 6. The rating was maintained by Barclays Capital with "Equal Weight" on Tuesday, January 3. Fred Alger Management holds 9.48M shares or 1.12% of its portfolio. It also increased its holding in Wpx Energy Inc (NYSE:WPX) by 563,272 shares in the quarter, for a total of 12.95 million shares, and has risen its stake in Mfa Finl Inc (NYSE:MFA).

Investors sentiment increased to 2.38 in Q3 2017. It turned negative, as 20 investors sold CENX shares while 50 reduced holdings. Bartlett And Ltd Liability Company owns 5,125 shares. Tci Wealth Inc has 241 shares.

Several analysts have recently issued reports on BAC shares. Nuveen Asset Limited Liability Corporation owns 0.01% invested in Republic Services, Inc. (NYSE:VZ) for 160,535 shares. Finally, Sanders Capital LLC increased its stake in Bank of America by 3.0% during the 3rd quarter. Buckhead Management Llc holds 1.72% or 316,275 shares in its portfolio. Annex Advisory Serv Lc holds 0.05% of its portfolio in 3M Company (NYSE:MMM) for 1,169 shares. Goldman Sachs Grp Inc has invested 0% of its portfolio in Century Aluminum Company (NASDAQ:CENX). Cubist Systematic Strategies Limited Liability has 0.12% invested in 3M Company (NYSE:MMM). Mount Vernon Md stated it has 88,304 shares. General Co reported 787,800 shares. Caxton Ltd Partnership has 0.59% invested in Applied Materials, Inc. Lazard Asset Management owns 172,349 shares. SICHEL SUSAN also sold $80,579 worth of Hyster-Yale Materials Handling, Inc. It has ditched 4.55 million shares. Little Frank R Jr. also sold $351,708 worth of 3M Company (NYSE:MMM) shares.

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