Economy

Bank of America Corporation (NYSE:BAC) Experiences Lighter than Usual Trading Volume

Bank of America Corporation (NYSE:BAC) Experiences Lighter than Usual Trading Volume”

Bank of The West's holdings in Bank of America Corp were worth $881,000 at the end of the most recent reporting period. The value of the investment in Bank of Hawaii Corporation increased from $3,064,000 to $3,065,000 a change of 0.0% quarter to quarter.

In other Bank of America Corporation news, Director Frank P. Bramble sold 86,763 shares of the stock in a transaction on Thursday, August 10th. Fulton Bank, N.a. owns 1,428 shares worth $36,000. Fulton Bank, N.a. grew its position by buying 74 shares an increase of 5.5%. The dividend was $0.120 per share for the quarter or $0.48 annualized. Mercer Capital Advisers Inc. grew its holdings in shares of Bank of America Corporation by 0.7% during the second quarter. Beacon Financial Group now owns 26,606 shares with a value of $674,000.

As of quarter end Neville Rodie & Shaw Inc had acquired 2,802 shares growing its position 5.4%. Welch & Forbes LLC now owns 666,767 shares of the financial services provider's stock valued at $16,176,000 after purchasing an additional 16,604 shares in the last quarter. Hedge funds and other institutional investors own 61.64% of the company's stock. The total value of its holdings increased 75.5%. Following the transaction, the director now directly owns 50,000 shares of the company's stock, valued at $1,208,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Moreover, Bourgeon Cap Management Ltd Liability Company has 0.26% invested in Bank of America Corp (NYSE:BAC).

BAC has been the subject of a number of recent research reports.

Among 29 analysts covering Bank of America (NYSE:BAC), 19 have Buy rating, 0 Sell and 10 Hold. Bank of America had 83 analyst reports since July 21, 2015 according to SRatingsIntel. Jefferies Group LLC restated a "buy" rating and set a $28.00 target price on shares of Bank of America Corp in a report on Friday, May 5th. Keefe, Bruyette & Woods reiterated an "outperform" rating on shares of Bank of America Corporation in a research note on Tuesday, July 4th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company's stock. Goldman Sachs Group Inc restated a "conviction-buy" rating and set a $27.00 target price on shares of Bank of America Corp in a report on Tuesday, January 17th.

Bank of America Corporation (NYSE BAC) opened at 26.21 on Friday.

Company shares last traded at $26.21 which is just a bit higher than the 50 day moving average of $24.41 and which is marginally over the 200 day moving average of $23.83.

Investors wait Bank of America Corp (NYSE:BAC) to report on October, 13 before the open. its quarterly earnings Wall Street analysts expect $0.47 EPS, up $0.06 or 14.63 % from last year's $0.41 same quarter earnings. More interesting news about Bank of America Corp (NYSE:BAC) were released by: Investorplace.com and their article: "Thursday's Vital Data: Bank of America Corp (BAC), Apple Inc". Longer Investments invested in 67,700 shares or 1.44% of the stock. This is an increase of 125% compared to the average daily volume of 109,122 call options.

Deutsche Bank maintained Bank of America Corp (NYSE:BAC) on Tuesday, August 25 with "Buy" rating. Norges Bank purchased a new position in Bank of America Corp during the fourth quarter worth about $2,256,221,000. Bank of America Corp (NYSE:BAC) has risen 58.64% since October 8, 2016 and is uptrending. During the same period past year, the company earned $0.41 earnings per share. The business's revenue for the quarter was up 6.9% on a year-over-year basis. Equities research analysts predict that Bank of America Corporation will post $1.80 EPS for the current fiscal year.

Bank of America Corporation announced that its Board of Directors has initiated a share repurchase plan on Wednesday, June 28th that authorizes the company to buyback $12.00 billion in shares. Bank of America Corporation also declared a dividend paid on Friday the 29th of September 2017. Northern has 0.73% invested in Bank of America Corp (NYSE:BAC). The dividend yield was $1.87. The ex-dividend date was Wednesday the 30th of August 2017. Bank of America Corporation's payout ratio is 28.57%.

COPYRIGHT VIOLATION NOTICE: "Korea Investment CORP Buys 390,771 Shares of Bank of America Corporation (BAC)" was published by TrueBlueTribune and is the sole property of of TrueBlueTribune. If you are viewing this piece on another publication, it was stolen and reposted in violation of US and worldwide copyright legislation.

Bank of America Corporation, launched on July 31, 1998, is a bank holding company (BHC) and a financial holding company. The institutional investor held 24.90M shares of the major banks company at the end of 2017Q2, valued at $604.02 million, down from 26.68 million at the end of the previous reported quarter. The Company, through its banking and various non-bank subsidiaries, throughout the United States and in worldwide markets, provides a range of banking and non-bank financial services and products through four business segments: Consumer Banking, which comprises Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S. Trust, Bank of America Private Wealth Management; Global Banking, which provides a range of lending-related products and services; Global Markets, which offers sales and trading services, and All Other, which consists of equity investments, residual expense allocations and other.



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