Arlington Value Capital LLC Cuts Stake in Bank of America (BAC)

Postado Abril 16, 2018

134 funds opened positions while 676 raised stakes. Focused Wealth Mngmt holds 2.14% of its portfolio in Bank of America Corporation (NYSE:BAC) for 226,318 shares. Whittier Tru owns 145,378 shs or 0.15% of their USA capital. Accern also assigned media coverage about the financial services provider an impact score of 46.5507281478441 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock's share price in the near future. After $0.96 actual EPS reported by Microsoft Corporation for the previous quarter, Wall Street now forecasts -11.46% negative EPS growth. Brinker reported 47,232 shs or 0.05% of all its holdings. Kempner Cap Mngmt holds 321,897 shares. Sterling Mgmt holds 3.71% or 117,858 shs.

Shares of the second-largest US bank by assets rose 1 per cent in premarket trading. Dowling Yahnke Ltd Co invested 0.87% in Bank of America Corporation (NYSE:BAC). Bridgecreek Inv Ltd owns 9,950 shs. Manatuck Hill Partners Limited Liability Company holds 1.87% of its portfolio in Bank of America Corporation (NYSE:BAC) for 121,198 shares. Massachusetts-based Boston Ptnrs has invested 2.44% in Bank of America Corporation (NYSE:BAC).

TRADEMARK VIOLATION WARNING: "Bank of America (BAC) Position Reduced by Honkamp Krueger Financial Services Inc." was posted by Macon Daily and is the property of of Macon Daily. Segall Bryant Hamill Limited Liability Corp, a Illinois-based fund reported 41,490 shares. Barclays upped their price objective on Bank of America from $28.00 to $35.00 and gave the stock an "equal weight" rating in a research note on Tuesday, January 2nd. BAC's profit would be $6.03B giving it 12.63 P/E if the $0.59 EPS is correct. They expect $0.85 EPS, up 16.44% or $0.12 from last year's $0.73 per share. Vetr downgraded shares of Bank of America from a "buy" rating to a "hold" rating and set a $34.13 price target on the a report on Monday, March 12th. The stock had a trading volume of 99,254,533 shares, compared to its average volume of 69,778,968. BAC outperformed by 16.63% the S&P500.

Among 15 analysts covering Bank of America (NYSE:BAC), 11 have Buy rating, 0 Sell and 4 Hold. Bank of America had 109 analyst reports since July 21, 2015 according to SRatingsIntel. On Tuesday, December 12 the firm has "Buy" rating by Keefe Bruyette & Woods given. The stock has "Hold" rating by Robert W. Baird on Tuesday, January 2.

Since February 16, 2018, it had 0 insider buys, and 3 sales for $930,912 activity. Raymond James maintained the stock with "Buy" rating in Tuesday, December 5 report. The company rating was maintained by Oppenheimer on Monday, March 26. RBC Capital Markets maintained it with "Buy" rating and $30.0 target in Wednesday, December 6 report. The rating was maintained by BMO Capital Markets on Wednesday, January 17 with "Hold". The firm earned "Neutral" rating on Wednesday, January 11 by UBS. As per Tuesday, January 9, the company rating was maintained by Sandler O'Neill. The company was maintained on Friday, October 6 by Wedbush. Keefe Bruyette & Woods maintained the shares of BAC in report on Wednesday, April 4 with "Buy" rating.

Bank of America Corporation, through its subsidiaries, provides banking and financial services and products for individual consumers, small and middle-market businesses, institutional investors, large firms, and governments worldwide. Revenues were up 4% to $23.1bn thanks to strong performance from the consumer banking and wealth and investment management divisions. Despite historically low levels of unemployment and a strong economy, loan growth was lackluster, as JPM's lending business slumped 0.2% from the previous three quarters, WFC loans slumped 1% and Citigroup's lending gained just 1%, attributed to an initiative to expand its struggling credit card business.

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