Bank of America takes tax hit, vows longer-term boost

Brian Moynihan Bank of America BOA

Several other analysts also recently weighed in on the stock. The firm has "Buy" rating by Jefferies given on Monday, October 10. The stock has "Buy" rating by Cantor Fitzgerald on Tuesday, November 10.

Like many banks this quarter, Bank of America had to write down the value of deferred tax assets on its balance sheet. The firm has "Buy" rating given on Tuesday, August 25 by Deutsche Bank. The rating was upgraded by Nomura on Tuesday, September 8 to "Buy".

Bank of America Corp (NYSE:BAC) released its latest earnings report before opening bell this morning. About 124.38 million shares traded or 80.47% up from the average. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.90 and a current ratio of 0.91.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Wednesday, January 17th. The company reported the earnings of $0.48/Share in the last quarter where the estimated EPS by analysts was $0.45/share.

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Bank of America reported better-than-expected adjusted fourth quarter earnings Wednesday before the opening bell. Bank of America had a net margin of 20.66% and a return on equity of 8.33%. The company has market cap of $3.18 billion. During the same quarter past year, the company earned $0.41 EPS. The institutional investor held 21,277 shares of the technology company at the end of 2017Q3, valued at $2.18M, up from 16,862 at the end of the previous reported quarter. Verus Financial Prns Inc has 0.11% invested in Bank of America Corporation (NYSE:BAC) for 11,484 shares. Insight Capital Research & Management Inc bought 4,415 shares as the company's stock rose 13.22% with the market. Channing Capital Management LLC acquired a new position in Bank of America in the 3rd quarter valued at approximately $5,027,000. The stock decreased 1.03% or $0.321 during the last trading session, reaching $30.919. Inc. now owns 18,303 shares of the financial services provider's stock worth $432,000 after buying an additional 4,603 shares during the period. Bank of America has a 52 week low of $22.01 and a 52 week high of $31.79. McQueen Ball & Associates Inc. now owns 29,131 shares of the financial services provider's stock worth $707,000 after buying an additional 750 shares during the period.

As cryptocurrency markets around the world get smoked in what's been called a "bloodbath", Bank of America CEO Brian Moynihan took the time to warn customers about investing in highly volatile bitcoin. It also increased its holding in C&J Energy Svcs Inc New by 325,073 shares in the quarter, for a total of 425,073 shares, and has risen its stake in Bunge Limited (NYSE:BG). It dropped, as 68 investors sold BAC shares while 569 reduced holdings.

Bank of America Corp has announced a profit of $2.4bn, or $0.20 per diluted share, in its quarter four results. Stock repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued. Stockholders of record on Friday, December 1st were issued a dividend of $0.12 per share.

On 7/28/2017 announced a quarterly dividend of $0.12 1.99% with an ex dividend date of 8/30/2017 which will be payable on 9/1/2017. This represents a $0.48 dividend on an annualized basis and a yield of 1.54%. Sirios Capital Mgmt LP stated it has 3.35% of its portfolio in Bank of America Corporation (NYSE:BAC). If you are viewing this piece of content on another site, it was illegally stolen and reposted in violation of United States and worldwide copyright and trademark laws. Non-interest income fell 7% to $9 billion due to impacts from the tax reform bill and lower mortgage banking income, although asset management fees, investment banking revenues and card income grew, partially offsetting those impacts. First Pacific Advisors Llc who had been investing in Bank Of America Corp for a number of months, seems to be bullish on the $318.03 billion market cap company. Copeland Capital Management Llc who had been investing in Msci Inc for a number of months, seems to be bullish on the $12.28 billion market cap company. The Company, through its banking and various non-bank subsidiaries, throughout the United States and in worldwide markets, provides a range of banking and non-bank financial services and products through four business segments: Consumer Banking, which comprises Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S.

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