Economy

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

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

Berkshire Hathaway took a $11.5 billion investment gain earlier this year when it converted preferred shares into common stock. The lender has spent $70 billion on legal bills since the financial crisis - more than any other US bank - including $30 billion on mortgage putbacks. The stock rose 0.75% or $0.19 reaching $25.64.

The Boeing Company (NYSE:BA) 0.18% during real-time trade, a total of 2,577,900 shares exchanged hands compared with its average trading volume of 3.75M shares.

Vetr downgraded shares of Bank of America Corporation (NYSE:BAC) from a hold rating to a sell rating in a research note released on Wednesday, October 4th. It has outperformed by 41.94% the S&P500. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company. Therefore 67% are positive. Citigroup reported revenue of $18.2 billion and an EPS of $1.42. BMO Capital Markets maintained BlackBerry Ltd (NASDAQ:BBRY) rating on Wednesday, September 27. Renaissance Macro Securities LLC has "Buy" rating and $2900 target. On Monday, May 8 DENHOLM ROBYN M sold $6.24M worth of Tesla Inc (NASDAQ:TSLA) or 20,000 shares. RBC Capital Markets has "Buy" rating and $1200 target. (NASDAQ:KEYW) on Wednesday, February 15 with "Outperform" rating. BidaskClub upgraded Bank of America Corporation from a "hold" rating to a "buy" rating in a report on Friday, July 7th. Maxim Group maintained it with "Buy" rating and $10 target in Thursday, February 25 report. The rating was maintained by Deutsche Bank on Tuesday, January 26 with "Buy". The stock of KEYW Holding Corp. The stock has "Hold" rating by Societe Generale on Tuesday, September 13. See KEYW Holding Corp.

Anchor Capital Advisors Llc decreased M & T Bk Corp (MTB) stake by 2.78% reported in 2017Q2 SEC filing. Sectoral Asset Management Inc who had been investing in Aerie Pharmaceuticals for a number of months, seems to be bullish on the $2.23B market cap company. Regions Finl Corp New (Call) (NYSE:RF) was reduced too. Therefore 66% are positive. Goldman Sachs maintained the stock with "Neutral" rating in Monday, April 25 report. The company was maintained on Friday, October 6 by RBC Capital Markets. Barclays Capital maintained Bank of America Corp (NYSE:BAC) on Tuesday, January 3 with "Equal Weight" rating. The stock of Bank of America Corp (NYSE:BAC) has "Buy" rating given on Tuesday, July 18 by Nomura.

Investors sentiment decreased to 1.12 in 2017 Q2. Stockholders of record on Friday, September 1st were paid a $0.12 dividend. It improved, as 39 investors sold MTB shares while 189 reduced holdings.

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Hedge funds and other institutional investors have recently made changes to their positions in the company. Finally, First National Trust Co. raised its holdings in shares of Bank of America Corporation by 48.2% during the first quarter.

Saba Capital Management L.P. holds 3.84% of its portfolio in Advent Claymore Convertible Sec & Inc Fd for 2.63 million shares.

Receive Bank of America Corporation News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of America Corporation with MarketBeat.com's FREE daily email newsletter. Susquehanna Intll Ltd Liability Partnership owns 27.92M shares. 112,874 were accumulated by Atlanta Gp. Clal Limited owns 2.00M shares or 0.96% of their United States portfolio. Finally, Royal Bank Of Canada reaffirmed a "buy" rating and set a $26.00 target price on shares of Bank of America Corporation in a research report on Thursday, July 20th.

Now insiders hold 15,342,468 shares in the business which makes up 0.15% of shares.

Bank of America Corp, the second-largest USA bank by assets, reported a 15 percent rise in quarterly profit as the lender kept a tight leash on costs and benefited from higher interest rates. Blue Fincl Cap Incorporated, a Rhode Island-based fund reported 78,994 shares. Archford Capital Strategies Ltd reported 5,246 shares. Shoker Inv Counsel invested in 0.33% or 17,321 shares. Insiders own 0.18% of the company's stock. Tarbox Family Office Inc. now owns 4,809 shares of the financial services provider's stock worth $117,000 after purchasing an additional 21 shares during the period.


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