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Bank of America's third-quarter profit rises 13 percent

13 October 2017

Johnson Investment Counsel Inc decreased Owens & Minor Incorporated Holdin (NYSE:OMI) stake by 27,502 shares to 42,514 valued at $1.37 million in 2017Q2. Clean Harbors Inc now has $3.24B valuation.

Revenues edged up 0.9 percent to $21.8 billion. About 18,100 shares traded. It has outperformed by 1.83% the S&P500.

Bank of America Corporation (NYSE:BAC) last announced its earnings results on Tuesday, July 18th. Fulton Bank acquired 17,305 shares as Bank Amer Corp (BAC)'s stock declined 6.00%. Nokota Management Lp who had been investing in Bank Amer Corp for a number of months, seems to be bullish on the $268.51 billion market cap company. The stock increased 1.00% or $2.14 during the last trading session, reaching $216.81. About 3,238 shares traded. It has outperformed by 41.94% the S&P500. After this purchase, 85,650 common shares of BAC are directly owned by the insider, with total stake valued at $2,179,793. Cref Mut Fds was reduced too. Therefore 66% are positive.

Moynihan's quest to right Bank of America drew praise this month from Berkshire Hathaway Inc.'s Warren Buffett, the firm's largest shareholder. Pennsylvania-based Brick Kyle has invested 0.84% in Bank of America Corp (NYSE:BAC). The firm has "Buy" rating given on Tuesday, September 8 by Nomura. The company was upgraded on Thursday, September 10 by Wells Fargo. The stock of Clean Harbors Inc (NYSE:CLH) has "Buy" rating given on Thursday, February 23 by Needham. The firm has "Hold" rating given on Friday, October 6 by BMO Capital Markets. The stock now has an average rating of "Buy" and an average price target of $24.88. Whereas 8 of them predict the stock is a hold. (NYSE:CLH), 6 have Buy rating, 1 Sell and 7 Hold. JP Morgan maintained the stock with "Overweight" rating in Thursday, April 7 report.

Investors sentiment decreased to 1.12 in 2017 Q2.

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corporation disclosed in a document filed with the US Securities and Exchange Commission (SEC) that Director Bramble Frank P has sold 86,763 shares of Bank of America Corporation (BAC) in trading session dated August 10, 2017. Lodestar Invest Counsel Ltd Liability Corp Il invested in 0.04% or 13,016 shares.

Bank of America Corporation declared that its Board of Directors has authorized a stock repurchase program on Wednesday, June 28th that permits the company to repurchase $12.00 billion in outstanding shares. (NYSE:PEP). Sentinel Asset Management invested 1.35% of its portfolio in PepsiCo, Inc. Amer Bancshares reported 103 shares. (NYSE:PEP). Nordea Management has 1.97M shares for 0.57% of their portfolio. Lpl Lc holds 0.19% of its portfolio in Bank of America Corp (NYSE:BAC) for 2.07M shares. State Treasurer State Of Michigan holds 0.01% or 21,500 shares. The legal version of this report can be read at https://www.truebluetribune.com/2017/10/13/bank-of-america-corporation-bac-expected-to-earn-q3-2017-earnings-of-0-47-per-share.html. Chicago Equity Prtn Limited Liability Corporation owns 231,855 shares for 0.72% of their portfolio. The stock of Bank of America Corp (NYSE:BAC) has "Buy" rating given on Monday, August 24 by Vetr. Mcdaniel Terry owns 178,996 shares or 4.01% of their U.S. portfolio. Capstone Invest Advisors Llc reported 0.01% in Clean Harbors Inc (NYSE:CLH). California-based Aristotle Cap Mgmt Ltd Liability Corp has invested 3.13% in Bank of America Corp (NYSE:BAC).

Investors sentiment increased to 1.22 in 2017 Q2. Its down 0.09, from 0.84 in 2017Q1. It fall, as 44 investors sold EXPE shares while 157 reduced holdings. 117 funds opened positions while 502 raised stakes. 124.48 million shares or 4.08% more from 119.60 million shares in 2017Q1 were reported. Letko Brosseau Associates holds 9.22M shares or 2.19% of its portfolio. 5,000 are held by Ardsley Advisory Ptnrs. (NYSE:PEP). Greystone Managed Invests accumulated 91,355 shares. M Holdings Securities Inc. now owns 95,018 shares of the financial services provider's stock worth $2,242,000 after purchasing an additional 40,069 shares during the last quarter. Ipg Investment Advsrs Limited Liability owns 72,307 shares for 0% of their portfolio. Scout Invs invested in 0.45% or 104,947 shares. 126,431 are owned by Brown Advisory.

Now insiders hold 15,342,468 shares in the business which makes up 0.15% of shares. M Secs stated it has 82,595 shares or 0.68% of all its holdings. Proshare Advsrs Ltd Co stated it has 0% in Clean Harbors Inc (NYSE:CLH). Investment Mngmt Of Virginia Ltd Llc holds 63,113 shares.

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Bank of America's third-quarter profit rises 13 percent