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Bank of America Corp (BAC) EPS Estimated At $0.47

12 October 2017

It has outperformed by 0.16% the S&P500. Altavista Wealth Management Inc. raised its stake in Bank of America Corporation by 0.7% during the second quarter. Private Asset Management Inc sold 12,882 shares as Bank Of America Corp (BAC)'s stock declined 6.00%. Clear Perspective Advisors LLC now owns 11,380 shares of the financial services provider's stock worth $276,000 after acquiring an additional 9,000 shares during the period.

Bank of America Corporation declared that its board has authorized a stock buyback program on Wednesday, June 28th that allows the company to repurchase $12.00 billion in shares. Park National Corp OH now owns 896,822 shares of the financial services provider's stock valued at $22,725,000 after purchasing an additional 25,202 shares during the last quarter. About 624,601 shares traded.

Today, Credit Suisse Group reiterated its Outperform rating on Bank of America Corporation (NYSE:BAC). It has outperformed by 41.94% the S&P500.

Bank of America Corporation is a bank holding company and a financial holding company. Therefore 66% are positive. Buckingham Research reaffirmed a "buy" rating and issued a $30.00 target price (up previously from $27.00) on shares of Bank of America Corporation in a report on Monday, July 10th. As per Wednesday, April 19, the company rating was maintained by Wells Fargo. Jefferies maintained the shares of BAC in report on Tuesday, June 6 with "Buy" rating. The firm earned "Buy" rating on Wednesday, January 4 by Goldman Sachs. Robert W. Baird upgraded Bank of America Corp (NYSE:BAC) rating on Tuesday, August 25. The rating was maintained by Keefe Bruyette & Woods with "Buy" on Tuesday, October 3. CLSA upgraded Bank of America Corp (NYSE:BAC) on Friday, January 29 to "Outperform" rating. Jefferies maintained Bank of America Corp (NYSE:BAC) on Monday, October 10 with "Buy" rating.

Looking forward, the company's quarterly earnings are expected to come at $1.01 in the three months through September 2017 and $1 in the quarter ending December 2017, reflecting 65.57% and 1150% growth, respectively.

On 5/2/2017 Bank of America Corporation announced a quarterly dividend of $0.08 1.27% with an ex dividend date of 5/31/2017 which will be payable on 6/30/2017. It worsened, as 79 investors sold BAC shares while 543 reduced holdings.

Institutional ownership refers to the ownership stake in a company that is held by large financial organizations, pension funds or endowments. Amica Mutual Insurance invested in 312,335 shares. Toronto Dominion Fincl Bank accumulated 3.50 million shares. The short ratio in the company's stock is documented at 1.61 and the short float is around of 1.02%. Madison Investment Incorporated invested in 1.22 million shares.

Bank of America Corporation (BAC) has a Return on Assets of 0.8 percent, Return on Investment of 4.6 percent and a Return on Equity of 7.4 percent. Cambridge Gp Inc reported 226,286 shares stake. (NYSE:IBM). Meiji Yasuda Asset Communications holds 0.49% of its portfolio in International Business Machines Corp.

Bank of America Corporation (BAC) opened at 25.83 on Wednesday. Massachusetts Finance Services Comm Ma owns 0.33% invested in Bank of America Corp (NYSE:BAC) for 30.52M shares. S&Co invested in 136,559 shares. Fiera Corp reported 238,296 shares stake. Brandywine reported 0.34% in Bank of America Corp (NYSE:BAC). They expect $0.47 EPS, up 14.63% or $0.06 from last year's $0.41 per share. TECD's profit will be $73.93 million for 12.24 P/E if the $1.94 EPS becomes a reality. After $0.46 actual EPS reported by Bank of America Corp for the previous quarter, Wall Street now forecasts 2.17% EPS growth. It also reduced Broadcom Ltd stake by 20,050 shares and now owns 163,192 shares.

Investors sentiment is 1.19 in Q2 2017. Its down 0.03, from 1.15 in 2017Q1. It improved, as 56 investors sold MRK shares while 612 reduced holdings. 34 funds opened positions while 108 raised stakes. Mutual Of America Cap Mngmt Limited Liability accumulated 112,587 shares or 0.09% of the stock. Intersect Cap Ltd Liability Company holds 60,808 shares or 2.34% of its portfolio. Ftb Advsr Inc stated it has 0.6% in Bank of America Corp (NYSE:BAC). The firm earned "Underperform" rating on Monday, October 12 by Raymond James. The percentage of shares being held by the company management was 0.4% while institutional stake was 78.4%. 219,409 were reported by Rmsincerbeaux Mngmt Ltd Liability. Mu Invs Limited holds 4,300 shares or 0.08% of its portfolio. Regions has invested 0.01% of its portfolio in IDEXX Laboratories, Inc. Wellington Mgmt Gru Limited Liability Partnership reported 191.69 million shares stake. (NASDAQ:IDXX). Citadel Advsrs Limited Liability has 64,253 shares. Beacon Financial Group now owns 26,606 shares of the financial services provider's stock valued at $674,000 after purchasing an additional 10,807 shares during the last quarter. Zacks Invest Mgmt reported 15,039 shares. Todd Asset Ltd Co invested in 0.68% or 983,900 shares. Lmm Ltd Liability Co invested in 0.31% or 288,000 shares. Cullen Frost Bankers stated it has 495,523 shares.

Analysts await Merck & Co., Inc. Kbc Group Nv has invested 1.48% of its portfolio in Bank of America Corp (NYSE:BAC). It closed at $0.0005 lastly. The stock has a market capitalization of $272.69 billion, a PE ratio of 15.44 and a beta of 1.25. Altavista Wealth Mngmt Inc invested in 10,199 shares.

Among 20 analysts covering Merck & Co. Therefore 75% are positive. The firm has "Equal-Weight" rating given on Tuesday, August 8 by Morgan Stanley. The rating was maintained by Jefferies with "Sell" on Friday, August 18.