Economy

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%.

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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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