Bank of America Stock Flat Despite Earnings Beat

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Bank of America has formed a flat base with a 33.15 buy point, but shares are trading below their 50-day line. Js Capital Management Llc bought 50,000 shares as the company's stock declined 1.20% with the market. The stock of Bank of America Corporation (NYSE:BAC) has "Buy" rating given on Sunday, July 23 by Renaissance Macro Securities LLC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Caxton Associates Lp who had been investing in Bank Amer Corp for a number of months, seems to be less bullish one the $304.68B market cap company. 60,557 are owned by San Francisco Sentry Group (Ca). Teacher Retirement System of Texas boosted its holdings in shares of Bank of America by 1.9% during the 3rd quarter.

After the closing bell, Celanese Corporation (NYSE: CE) is projected to post quarterly earnings at $2.3 per share on revenue of $1.66 billion.

Bluefin Trading Llc, which manages about $1.65 billion US Long portfolio, decreased its stake in At&T Inc (NYSE:T) by 192,123 shares to 285,777 shares, valued at $11.11M in 2017Q4, according to the filing. Institutional investors own 69.85% of the company's stock.

In overseas trading, stock markets across the Asia-Pacific region turned in a mixed performance during trading on Monday. While it led to big one-time charges last quarter, the lower rate is starting to lift bank earnings this quarter.

Bank of America Corp (NYSE:BAC) released its Q1 2018 earnings results before opening bell this morning. Moreover, Prelude Management Ltd Com has 0.72% invested in Microsoft Corporation (NASDAQ:MSFT). Return on equity for average shareholders was 10.8 per cent. The company had revenue of $20.69 billion for the quarter, compared to the consensus estimate of $21.61 billion. They expect $2.73 earnings per share, up 29.38% or $0.62 from last year's $2.11 per share. After $0.47 actual EPS reported by Bank of America Corporation for the previous quarter, Wall Street now forecasts 25.53% EPS growth. The company was maintained on Friday, February 2 by Morgan Stanley. Stockholders of record on Friday, March 2nd were given a $0.12 dividend. The ex-dividend date of this dividend was Thursday, March 1st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.61%. Bank of America's dividend payout ratio is 26.23%. Since October 31, 2017 according to StockzIntelligence Inc Bank of America has 17 analyst reports. Instinet cut their target price on Bank of America from $37.00 to $30.00 in a report on Wednesday, January 3rd. Regal Invest Advisors Ltd Company invested 0.4% in Bank of America Corporation (NYSE:BAC). Zacks Investment Research raised Bank of America from a "hold" rating to a "buy" rating and set a $33.00 target price on the stock in a report on Tuesday, January 2nd. On Thursday, December 21 the stock rating was maintained by Keefe Bruyette & Woods with "Buy". On Tuesday, September 8 the stock rating was upgraded by Nomura to "Buy". The original version of this piece can be viewed at https://stocknewstimes.com/2018/04/16/sullivan-bruyette-speros-blaney-llc-trims-holdings-in-bank-of-america-bac.html. If you are accessing this news story on another website, it was copied illegally and reposted in violation of United States and worldwide trademark & copyright law. Regal Investment Advsrs Ltd Liability stated it has 0.4% in Bank of America Corporation (NYSE:BAC). The Consumer Banking segment offers traditional and money market savings accounts, CDs and IRAs, noninterest- and interest-bearing checking accounts, and investment accounts and products, as well as credit and debit cards, residential mortgages and home equity loans, and direct and indirect loans.

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