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Published: Thu, January 18, 2018
Economy | By Melissa Porter

Bank of America Earnings Hurt by Tax-Related Charge

Bank of America Earnings Hurt by Tax-Related Charge

BAC has been the topic of a number of other research reports. Great Lakes Advsrs Lc has 1.52% invested in Bank of America Corporation (NYSE:BAC) for 2.54 million shares. "The stock of Bank of America Corporation (NYSE:BAC) has "Mkt Perform" rating given on Monday, August 24 by Bruyette & Woods".

When it comes to the Analysis of a Stock, Price Target plays a vital role. The institutional investor held 2.29 million shares of the major banks company at the end of 2017Q3, valued at $58.12 million, down from 2.31 million at the end of the previous reported quarter. Bank of America presently has a consensus rating of "Buy" and an average price target of $29.38.

Shares of Bank of America (NYSE BAC) traded up $0.05 during mid-day trading on Tuesday, hitting $31.24. About 124.38 million shares traded or 80.47% up from the average. 615,589 are held by Hudson Bay Mngmt L P. Hm Payson Company stated it has 353,391 shares or 0.39% of all its holdings.

Analysts await Kohl's Corporation (NYSE:KSS) to report earnings on February, 22.

Bank of America reported better-than-expected adjusted fourth quarter earnings Wednesday after a jump in loan growth offset a drop in fixed income trading. The bank reported an EPS of $0.47, beating analysts' estimates of $0.45. Bank of America had a return on equity of 8.33% and a net margin of 20.66%. During the same period in the prior year, the company posted $0.40 EPS.

Wall Street's biggest banks have taken differing approaches to bitcoin, which has swung wildly from less than $1,000 to nearly $20,000 in the past year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 1st were issued a $0.12 dividend.

On 5/2/2017 announced a quarterly dividend of $0.08 1.27% with an ex dividend date of 5/31/2017 which will be payable on 6/2/2017. The Manufacturers Life Insurance Company raised its position in Bank of America by 27.8% in the 2nd quarter. Comerica State Bank owns 2.61M shares or 0.52% of their U.S. portfolio. Zacks Investment Research raised shares of Bank of America from a "hold" rating to a "buy" rating and set a $33.00 price objective for the company in a research report on Tuesday, January 2nd.

ILLEGAL ACTIVITY NOTICE: "Meridian Wealth Management LLC Raises Holdings in Bank of America Corp (NYSE:BAC)" was published by Dispatch Tribunal and is the property of of Dispatch Tribunal. Janus Henderson Group PLC now owns 13,598,678 shares of the financial services provider's stock valued at $329,911,000 after buying an additional 11,619,173 shares in the last quarter. But the bank's quarterly revenue missed expectations.

Insight Capital Research & Management Inc, which manages about $473.36 million and $177.12M US Long portfolio, decreased its stake in Exelixis Inc (NASDAQ:EXEL) by 47,023 shares to 50,818 shares, valued at $1.23 million in 2017Q3, according to the filing. Grimes Inc has invested 0.14% in Bank of America Corporation (NYSE:BAC). Lbmc Investment Advisors LLC now owns 16,851 shares of the financial services provider's stock worth $409,000 after purchasing an additional 51 shares during the period. Hennessy Advisors Incorporated invested in 0.05% or 63,000 shares. Mount Vernon Associates Inc Md holds 88,304 shares. Vanguard Group Inc is the second biggest holder with 664 million shares now valued at 16.82 B million whilst State Street Corp has 434 million shares valued at 11.00 B million. Hedge funds and other institutional investors own 68.46% of the company's stock. If you are reading this piece on another publication, it was copied illegally and republished in violation of US & worldwide trademark and copyright legislation. North Star Investment Management Corp who had been investing in Bank Amer Corp Com for a number of months, seems to be less bullish one the $323.14B market cap company. Amalgamated Commercial Bank invested in 0.89% or 1.13 million shares. 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.

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