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Bank of America says it feels no pressure to raise depositor rates

16 April 2018

Armstrong Henry H Associates Inc sold 17,352 shares as the company's stock rose 4.63% while stock markets declined. Funds hold 6.85 billion shares thus 0.98% less from 2017Q3's 6.91 billion shares. The stock decreased 0.53% or $0.5 during the last trading session, reaching $93.08. About 80.40 million shares traded or 4.68% up from the average.

BAC has been the topic of a number of analyst reports. It has outperformed by 4.07% the S&P500.

Sol Capital Management Co decreased Bank Of America Corp.

Stillwater Investment Management Llc increased Bank Of America Corp (BAC) stake by 52% reported in 2017Q4 SEC filing.

Shares of Bank of America have gained just 0.7% since the beginning of 2018. Bank of America Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services.

BAC traded down $0.13 during midday trading on Monday, reaching $29.67. The Dow is up 181.46 points or 0.7 percent at 24,541.60, the Nasdaq is up 24.71 points or 0.4 percent at 7,131.36 and the S&P 500 is up 14.58 points or 0.6 percent at 2,670.88. Maltese Limited Liability Corp reported 2.12% in Bank of America Corporation (NYSE:BAC). Therefore 67% are positive.

Bank of America said it made a record $6.9 billion in profit during the first three months of the year, as the bank benefited from rising interest rates and a lower corporate tax rate. "Buy" rating has 10, "Sell" are 0, while 3 are "Hold". The firm has "Hold" rating by Robert W. Baird given on Friday, August 25. Regal Invest Advisors Ltd Company invested 0.4% in Bank of America Corporation (NYSE:BAC). Bank of America has an average rating of "Buy" and a consensus target price of $30.97. On Tuesday, September 8 the stock rating was upgraded by Nomura to "Buy". The company was downgraded on Thursday, December 1 by Standpoint Research. Stifel Nicolaus maintained the stock with "Buy" rating in Friday, January 27 report.

Big Money Sentiment increased to 1.19 in 2017 Q4. It improved, as 66 investors sold BAC shares while 561 reduced holdings. 162 funds amassed holdings and 585 increased holdings. 156,318 are held by Palladium Partners Ltd Liability Com. Arrowgrass Capital (Us) Limited Partnership reported 0.23% of its capital in Bank of America Corporation (NYSE:BAC). The Ontario - Canada-based Cumberland Prtnrs Limited has invested 2.05% in Bank of America Corporation (NYSE:BAC). Loews Corporation accumulated 163,448 shares.

Bank of America's upbeat earnings echoed the relatively strong results it and other banks reported in fourth-quarter results earlier this year, and similar reports on Friday from JPMorgan Chase and Citigroup. Caxton Associates Lp sold 1.60 million shares as the company's stock declined 1.20% with the market. Element Mngmt Ltd Com owns 783,502 shares for 0.57% of their portfolio. Shares fell after the results were published, as Wall Street had likely already anticipated the bump that banks were getting from a stronger economy, lower taxes and higher interest rates. Tradewinds Management Limited Company stated it has 12,336 shares. Trust Company Of Vermont holds 41,300 shs or 0.11% of its capital.

Analysts expect Netflix, Inc. Last quarter $0.47 earnings per share was reported. BAC's profit will be $6.03B for 12.63 P/E if the $0.59 EPS becomes a reality. Canada Pension Plan Investment Board now owns 40,159,612 shares of the financial services provider's stock worth $1,017,645,000 after buying an additional 4,801,300 shares during the period.

Mortgage banking income ended its run as a separate line on a sour note: including provisions for payments to investors, the last two quarters of 2017 were negative. It's up 1.55, from 1.25 in 2017Q3. With 300 avg volume, 8247 days are for SOHO CHINA LTD ORDINARY SHARES CAYM (OTCMKTS:SOHOF)'s short sellers to cover SOHOF's short positions. 90 funds opened positions while 125 raised stakes.

Bank of America says it feels no pressure to raise depositor rates