Bank of America Corporation Announces 15% Increase In Q3 Earnings

Bloomberg Intelligence’s Alison Williams examines third-quarter results from Bank of America

The stock has $10.38B outstanding shares. However, 4.60% over the last one month, 5.12% for the last quarter and year to date performance stands at 15.16%.

Net charge-offs, a measure of costs for bad debt, increased by $12 billion on a year-over-year basis to $900 million, driven by higher commercial losses, the bank said. The Company ended last trading session at the price of $25.45.

Bank of America Corporation (NYSE:BAC) last announced its earnings results on Tuesday, July 18th. It has outperformed by 41.94% the S&P500. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The Fuller & Thaler Asset Management Inc holds 2.25M shares with $125.37 million value, up from 2.24M last quarter. Clean Harbors Inc now has $3.24B valuation. AQR Capital Management LLC now owns 8,462,687 shares of the financial services provider's stock worth $199,635,000 after purchasing an additional 1,483,772 shares during the last quarter. About 18,100 shares traded. It has outperformed by 1.83% the S&P500.

Investors sentiment decreased to 1.12 in Q2 2017. Shareholders of record on Friday, September 1st were paid a dividend of $0.12 per share. It fall, as 79 investors sold BAC shares while 543 reduced holdings.

Institutional investors and hedge funds have recently made changes to their positions in the business.

Bank of America Corporation (NYSE:BAC) -1.47% during real-time trade, a total of 71,770,032 shares exchanged hands compared with its average trading volume of 65.54M shares. Signature Est And Inv Ltd Liability Com owns 710,770 shares or 2.04% of their U.S. portfolio.

Bank of America Corporation (NYSE:BAC) has a Return on Assets of 0.80%. California-based Aristotle Cap Mgmt Ltd Liability Corp has invested 3.13% in Bank of America Corp (NYSE:BAC). Pennsylvania-based Brick Kyle has invested 0.84% in Bank of America Corp (NYSE:BAC). Amer Bancshares reported 103 shares. 10,929 are owned by Dubuque Natl Bank Trust. Moreover, Magnetar Limited Liability has 0.01% invested in Expedia Inc (NASDAQ:EXPE) for 4,508 shares. With many preferring that Bank of America Corporation reinvest its earnings back into its trade to fuel future growth, a lot acknowledges a generous cash dividend payment. Boyar Asset Mgmt Incorporated has 195,170 shares for 3.48% of their portfolio. Birinyi Associates owns 34,250 shares. Fulton Comml Bank Na has 107,285 shares. It also reduced Apple Inc. Therefore 66% are positive. Buckingham Research reissued a "buy" rating and set a $30.00 price target (up from $27.00) on shares of Bank of America Corporation in a research report on Monday, July 10th. The stock has "Buy" rating by Jefferies on Tuesday, June 6. The firm earned "Neutral" rating on Wednesday, January 11 by UBS. The rating was downgraded by Wood to "Market Perform" on Monday, May 16. On Wednesday, December 21 the stock rating was upgraded by Atlantic Securities to "Overweight". Credit Agricole upgraded Bank of America Corp (NYSE:BAC) on Friday, January 29 to "Outperform" rating. (NASDAQ:AAPL) stake by 11,600 shares and now owns 805,199 shares.

Among 14 analysts covering Clean Harbors Inc. (NYSE:CLH), 6 have Buy rating, 1 Sell and 7 Hold. Therefore 13% are positive. Clean Harbors Inc. had 32 analyst reports since July 27, 2015 according to SRatingsIntel. The firm has "Sector Weight" rating by KeyBanc Capital Markets given on Thursday, August 3.

In other Bank of America Corporation news, Director Frank P. Bramble sold 86,763 shares of Bank of America Corporation stock in a transaction on Thursday, August 10th. The company was maintained on Thursday, November 5 by Imperial Capital.

Investors sentiment decreased to 1.29 in 2017 Q2. This represents a $0.48 annualized dividend and a yield of 1.89%. 90 funds opened positions while 170 raised stakes. Massachusetts Fincl Svcs Ma holds 0.05% of its portfolio in Clean Harbors Inc (NYSE:CLH) for 2.10M shares. Ar Asset Mngmt Inc reported 57,017 shares or 0.56% of all its holdings. Zurcher Kantonalbank (Zurich Cantonalbank) holds 2,081 shares. Bancorp Of Montreal Can reported 0% stake. Wagner Bowman Management Corporation owns 39,560 shares for 0.27% of their portfolio. State Treasurer State Of Michigan holds 0.01% or 21,500 shares. 5,000 are held by Ardsley Advisory Ptnrs. Capstone Invest Advisors Llc reported 0.01% in Clean Harbors Inc (NYSE:CLH). Utah Retirement has 9,600 shares for 0.01% of their portfolio. Barometer Cap Mgmt Inc invested in 867,520 shares. Scout Invs invested in 0.45% or 104,947 shares. Analysts have a mean recommendation of 2.10 on this stock.

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