Published: Tue, January 30, 2018
Business | By Kate Woods

Bank of America Corporation (NYSE:BAC) Upward Momentum Touches New Heights


Bank Of America Corp now has $332.57B valuation. The stock was last seen 0.34% higher, reaching at $32.2 on 01/26/2018. About 11.07 million shares traded.

Bristol Advisors LLC bought a new stake in shares of Bank of America Corp (NYSE:BAC) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. It has outperformed by 41.94% the S&P500.

Murphy Capital Management Inc decreased its stake in International Paper (IP) by 8.74% based on its latest 2017Q3 regulatory filing with the SEC. The company's outstanding shares are 4 Billion. The institutional investor held 186,529 shares of the prepackaged software company at the end of 2017Q3, valued at $6.12M, down from 199,929 at the end of the previous reported quarter. Marathon Asset Management Llp who had been investing in Intel Corp for a number of months, seems to be bullish on the $234.60B market cap company. The stock increased 0.49% or $0.31 during the last trading session, reaching $63.28. About 30.63 million shares traded. Intel Corporation (NASDAQ:INTC) has risen 19.47% since January 29, 2017 and is uptrending. It has outperformed by 18.07% the S&P500.

The data from the past twelve months tells a similar story: insiders executed 8 buys and 51 sells, and ownership decreased by a net of 2.11 million shares.

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Investors sentiment decreased to 1.04 in 2017 Q3. This represents a $0.48 annualized dividend and a yield of 1.92%. It worsened, as 68 investors sold BAC shares while 569 reduced holdings.

Other hedge funds have also added to or reduced their stakes in the company. Sequoia Fincl Advsrs Ltd holds 0.03% or 7,847 shares in its portfolio. Cohen & Steers invested in 0.09% or 1.24 million shares. First Merchants invested in 9,600 shares. Vantage Financial Partners Ltd. Inc. purchased a new position in shares of Bank of America during the 2nd quarter valued at about $1,017,000.

The company shows its Return on Assets (ROA) value of 0.7%. 134,600 were accumulated by Highvista Strategies Ltd Liability. Fiduciary Tru Co reported 159,451 shares. Rench Wealth has 2.67% invested in Bank of America Corporation (NYSE:BAC). 4,401 are owned by Burt Wealth Advisors. Da Davidson holds 0.12% of its portfolio in Bank of America Corporation (NYSE:BAC) for 236,520 shares. It also increased its holding in Camden Ppty Tr (NYSE:CPT) by 89,696 shares in the quarter, for a total of 202,680 shares, and has risen its stake in Conocophillips (NYSE:COP). Finally, Zacks Investment Research upgraded Bank of America from a hold rating to a buy rating and set a $33.00 price target for the company in a research note on Tuesday, January 2nd. Therefore 66% are positive. JPMorgan Chase & Co. increased their price target on shares of Bank of America from $27.50 to $28.50 and gave the company an "overweight" rating in a research report on Wednesday, November 1st. On Tuesday, November 15 the stock rating was downgraded by Guggenheim to "Neutral". The stock of Bank of America Corporation (NYSE:BAC) earned "Market Perform" rating by Keefe Bruyette & Woods on Monday, May 16. CLSA has "Outperform" rating and $18 target. The firm has "Buy" rating by Wells Fargo given on Wednesday, December 20. The rating was maintained by Jefferies on Monday, October 10 with "Buy". The stock has "Buy" rating by KBW on Tuesday, September 1. The ex-dividend date is Wednesday, August 30th. The stock of Bank of America Corporation (NYSE:BAC) has "Buy" rating given on Friday, August 11 by Jefferies. The stock of Bank of America Corporation (NYSE:BAC) has "Hold" rating given on Thursday, December 1 by Standpoint Research. Its down 0.09, from 0.95 in 2017Q2. State Treasurer State Of Michigan sold 13,400 shares as the company's stock rose 0.76% with the market. (NYSE:HCP) or 506,440 shares. $199,635 worth of stock was sold by BORDERS DAVE JR. on Sunday, October 1.

Investors sentiment is 1.03 in 2017 Q3. Its down 0.82, from 2.71 in 2017Q2. It dived, as 37 investors sold PPL shares while 222 reduced holdings. 31 funds opened positions while 97 raised stakes. Valley Natl Advisers reported 9,995 shares. 89,087 shares valued at $3.99 million were sold by BRYANT ANDY D on Monday, October 30. Estabrook Mngmt accumulated 1.79% or 453,530 shares. Private Advisor Group Lc stated it has 559,411 shares or 0.36% of all its holdings. Natixis stated it has 0% in Chegg, Inc. White Pine Llc, a Minnesota-based fund reported 50,925 shares. 82,813 were reported by Transamerica Inc. Finally, Independent Portfolio Consultants Inc. increased its position in Bank of America by 57.3% in the 2nd quarter. (NYSE:CHGG) for 12,091 shares. Gotham Asset Management accumulated 0.02% or 48,033 shares. Stillwater Investment Management LLC now owns 103,671 shares of the financial services provider's stock valued at $2,515,000 after acquiring an additional 323 shares during the period. Moreover, Elk Creek Prtnrs Limited Com has 1.35% invested in Chegg, Inc. (NYSE:HCP) for 36,250 shares. 33,490 are held by Mark Sheptoff Planning Limited Liability Corporation. Point72 Asset Mngmt LP owns 0.06% invested in HCP, Inc. Loomis Sayles And L P, Massachusetts-based fund reported 4.09M shares.

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Thomas White International Ltd decreased Zimmer Biomet Hldgs Inc (ZMH) stake by 4,150 shares to 11,785 valued at $1.38M in 2017Q3.

Among 13 analysts covering Chegg Inc (NYSE:CHGG), 12 have Buy rating, 0 Sell and 1 Hold. Therefore 100% are positive. HCP had 70 analyst reports since September 8, 2015 according to SRatingsIntel. The third largest holder is Vanguard Group Inc, which now holds $21.37 billion worth of this stock and that ownership represents almost 6.34% of its market capitalization. The stock of HCP, Inc. The stock has "Buy" rating by Stephens on Thursday, January 25. Northland Capital maintained Chegg, Inc. The rating was maintained by M Partners on Friday, February 5 with "Neutral". Northland Capital has "Buy" rating and $20.0 target. Robert W. Baird maintained Bank of America Corporation (NYSE:BAC) rating on Tuesday, January 2. The firm earned "Buy" rating on Tuesday, September 1 by Bernstein.

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