Higher interest rates, loans lift Bank of America profits

Bank of America CEO Brian T. Moynihan

Bank of America CEO Brian T. Moynihan

It's up 1.55, from 1.25 in 2017Q3. Amica Pension Fund Board Of Trustees owns 231,736 shares. Institutional investors own 69.85% of the company's stock. 135,124 were reported by Greenwich Wealth Management Limited Com.

Bank of America has formed a flat base with a 33.15 buy point, but shares are trading below their 50-day line.

The firm reported net interest income of $11.6 billion, compared to $11.06 billion in last year's first quarter and the consensus of $11.7 billion. Bank of America Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The stock decreased 1.29% or $0.76 during the last trading session, reaching $58.07. About 99.25 million shares traded or 29.22% up from the average. Keefe Bruyette & Woods downgraded Bank of America Corporation (NYSE:BAC) rating on Monday, May 16. The stock outperformed the S&P500 by 16.63%.

Among 33 analysts covering Bank of America (NYSE:BAC), 22 have Buy rating, 0 Sell and 11 Hold. Therefore 73% are positive. RBC Capital Markets maintained it with "Buy" rating and $30.0 target in Wednesday, December 6 report. The stock has "Buy" rating by Sandler O'Neill on Tuesday, January 9. (NYSE:BAC) joined other big USA banks in reporting impressive results in the first quarter, which surpassed the expectations of Wall Street analysts.

Following the Bank of America earnings release for Q1 2018, the firm's stock climbed almost 1% in premarket trading, rising as high as $30.08 per share ahead of the bell. Finally, Royal Bank of Canada boosted their price objective on Bank of America to $35.00 and gave the stock an "outperform" rating in a report on Thursday, January 18th.

Goldman Sachs (GS) reports Tuesday, and Morgan Stanley (MS) reports Wednesday. The rating was maintained by Deutsche Bank on Tuesday, August 25 with "Buy".

During Q4 2017 the big money sentiment increased to 1.19. It has change of 0.15, from 2017Q3's 1.04. 66 investors sold all, 561 reduced holdings as BAC ratio increased. 162 funds opened positions while 585 raised stakes. Wg Shaheen & Dba Whitney & reported 0.32% of its portfolio in Bank of America Corporation (NYSE:BAC). Bank of America Corporation (NYSE:BAC) has risen 28.18% since April 15, 2017 and is uptrending.

Average business loan balances increased 5% to $864 billion, while overall average deposit balances increased 3% to $1.3 trillion, a new record driven by consumer banking. Robert W. Baird maintained the shares of BAC in report on Tuesday, October 31 with "Hold" rating. Denver Inv Ltd Liability Corp reported 0.01% of its portfolio in Netflix, Inc. Beech Hill Advsr accumulated 105,404 shares. UBS upgraded Bank of America Corporation (NYSE:BAC) on Wednesday, August 26 to "Neutral" rating. Oppenheimer & has 0.67% invested in Bank of America Corporation (NYSE:BAC). Kempner Cap Mngmt holds 321,897 shares. Monetary Gp holds 41,350 shares. 156,318 are held by Palladium Partners Ltd Liability Com. Trading revenue rose 3%, including a 38% spike in equity trading revenue and a 13% drop in fixed-income trading revenue. About 19.71 million shares traded. Mattersight Corporation (MATR) has declined 40.43% since April 16, 2017 and is downtrending. It has underperformed by 11.55% the S&P500. Gateway Advisory Lc holds 0.09% or 10,495 shares in its portfolio. Ws Mgmt Lllp holds 1.05% or 1.21M shs. Ngam LP invested in 1.32 million shs.

Mattersight Corporation provides behavioral analytics services in the United States. The company has market cap of $304.68 billion. Evercore ISI analyst Glenn Schorr dubbed the bank "the new Steady Eddie" after Monday's earnings report. The financial services provider reported $0.62 earnings per share for the quarter, topping analysts' consensus estimates of $0.59 by $0.03. The firm has "Outperform" rating given on Thursday, September 10 by Wells Fargo.

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