Economy

Oppenheimer Holdings, Inc. Reiterates "Buy" Rating for Bank of America Corporation (BAC)

Caprock Group Inc acquired 14,428 shares as Bank Amer Corp (BAC)'s stock declined 6.00%. The Waddell & Reed Financial Inc holds 6.05M shares with $146.77M value, down from 9.26M last quarter. Bank Amer Corp now has $272.52 billion valuation. The stock increased 1.68% or $0.24 on October 13, reaching $14.55. About 104.20M shares traded or 52.54% up from the average. MPO's SI was 379,200 shares in October as released by FINRA. It has outperformed by 41.94% the S&P500.

Moon Capital Management Llc increased Cvs Health Corp (CVS) stake by 0.22% reported in 2017Q2 SEC filing. Legal & General Group Plc now owns 50,797,049 shares of the financial services provider's stock worth $1,232,414,000 after purchasing an additional 1,007,405 shares during the last quarter. Cvs Health Corp now has $73.80B valuation. Artemis Invest Mgmt Ltd Liability Partnership accumulated 2.22% or 3.77 million shares. (ADR) (NYSE:HMY) has declined 31.33% since October 15, 2016 and is downtrending. Bank of America Corp (NYSE:BAC) has risen 58.64% since October 15, 2016 and is uptrending. Therefore 0 are positive. Jefferies Group LLC restated a "buy" rating on shares of Bank of America Corporation in a report on Friday, July 7th. The stock of Bank of America Corp (NYSE:BAC) has "Hold" rating given on Friday, August 25 by Robert W. Baird. The average 12 month price target among brokers that have issued ratings on the stock in the past year is $24.54.

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

Bank of America Corporation (NYSE:BAC) has been assigned an average rating of "Buy" from the thirty-seven brokerages that are presently covering the company, MarketBeat Ratings reports. The rating was maintained by BMO Capital Markets with "Hold" on Friday, October 6. The rating was upgraded by Bernstein on Tuesday, August 25 to "Mkt Perform".

Investors sentiment decreased to 1.12 in Q2 2017. Stockholders of record on Friday, September 1st were given a $0.12 dividend.

Several hedge funds have recently added to or reduced their stakes in BAC. Following the transaction, the director now owns 50,000 shares of the company's stock, valued at approximately $1,208,000. Clearbridge Investments Ltd Limited Liability Company reported 17.43M shares. Investors Asset Management Of Georgia Incorporated Ga Adv invested in 60,649 shares or 1.01% of the stock. Northwestern Mutual Wealth Mgmt Communications invested in 0% or 807 shares. Tompkins Corporation holds 0% of its portfolio in Bank of America Corp (NYSE:BAC) for 500 shares. Armbruster Capital Management Inc. increased its holdings in shares of Bank of America Corporation by 10.8% during the 1st quarter. Schwab Charles Inv holds 0.03% or 798,443 shares. Janus Henderson Group PLC raised its holdings in shares of Bank of America Corporation by 587.0% in the second quarter. Chicago Partners Investment Group LLC increased its holdings in shares of Bank of America Corporation by 11.0% during the 2nd quarter. Hanseatic Mgmt Services has 0.39% invested in Bank of America Corp (NYSE:BAC). (NASDAQ:STLD) for 2.56M shares.

Investors sentiment decreased to 0.92 in Q2 2017. Its up 0.19, from 1.07 in 2017Q1. It is negative, as 84 investors sold CVS shares while 559 reduced holdings. 76 funds opened positions while 139 raised stakes. It also increased its holding in Spdr Series Trust (JNK) by 908,780 shares in the quarter, for a total of 2.94 million shares, and has risen its stake in Viacom Inc New (NASDAQ:VIAB). Clarivest Asset Limited Liability Corp stated it has 0.38% in CVS Health Corp (NYSE:CVS). 356,008 were reported by Walleye Trading Limited Com. M&T Bancshares Corp holds 290,391 shares. Insiders own 0.18% of the company's stock. Raytheon Co Com (NYSE:RTN) was reduced too. Ohio-based Riverpoint Capital Mngmt Limited Liability Company has invested 0.04% in CVS Health Corp (NYSE:CVS). Parametric Portfolio Ltd holds 0.72% or 24.01M shares in its portfolio. Citadel Lc, Illinois-based fund reported 6.36M shares. Commonwealth Of Pennsylvania Public School Empls Retrmt System invested 0.27% in Bank of America Corp (NYSE:BAC). Adirondack Company reported 0% stake.

Shares of Bank of America Corporation (BAC) opened at 25.83 on Friday. Two equities research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation, twenty-three have given a buy recommendation and two have given a strong buy recommendation to the company. Therefore 67% are positive. Wells Fargo & Company began coverage on Bank of America Corporation in a research report on Wednesday, August 9th. The firm has "Outperform" rating by Keefe Bruyette & Woods given on Tuesday, November 29. Credit Agricole upgraded the shares of BAC in report on Friday, January 29 to "Outperform" rating. The company was upgraded on Monday, August 24 by Vetr. Atlantic Securities downgraded CVS Health Corp (NYSE:CVS) on Monday, February 6 to "Neutral" rating. The firm has "Overweight" rating given on Thursday, April 7 by JP Morgan.

Bank of America Corporation declared that its board has approved a stock buyback program on Wednesday, June 28th that permits the company to buyback $12.00 billion in outstanding shares. The stock has "Buy" rating by Citigroup on Tuesday, July 19.

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