Bank of America Reports First-Quarter 2018 Financial Results

Bank of America CEO Brian T. Moynihan

The stock outperformed the S&P500 by 16.63%.

Terril Brothers Inc decreased Bank Amer Corp (BAC) stake by 24.52% reported in 2017Q4 SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company.

BOA reports higher earnings in its first quarter on Monday, topping Wall Street forecasts and continuing a strong run of results by most major USA banks. The Stillwater Investment Management Llc holds 158,004 shares with $5.57 million value, up from 103,947 last quarter. $304.68 billion is Bank Amer Corp's MC. The new policy made Bank of America one of several USA financial institutions to break ties with gunmakers following the February 14 mass shooting massacre at Marjory Stoneman Douglas High School in Parkland, Florida. Bronfman E.L. Rothschild L.P. now owns 64,694 shares of the financial services provider's stock valued at $1,639,000 after acquiring an additional 4,537 shares in the last quarter. Utah Retirement holds 1.12% or 1.81 million shs in its capital.

Several research firms have issued reports on BAC. Keefe Bruyette & Woods maintained the shares of BAC in report on Wednesday, April 4 with "Buy" rating. The rating was maintained by JP Morgan on Wednesday, November 1 with "Overweight".

In total 13 analysts cover Bank of America (NYSE:BAC). The rating was maintained by Keefe Bruyette & Woods with "Buy" on Tuesday, December 12. Nine analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. RBC Capital Markets maintained it with "Buy" rating and $30.0 target in Wednesday, December 6 report. With 16,800 shares average volume, it will take short sellers 6 days to cover their TCLHF's short positions. Sullivan Bruyette Speros & Blaney LLC's holdings in Bank of America were worth $405,000 as of its most recent filing with the Securities & Exchange Commission. The firm earned "Mkt Perform" rating on Tuesday, October 18 by FBR Capital. Mckinley Ltd Company Delaware stated it has 0.18% of its portfolio in Netflix, Inc. Arrowgrass Capital (Us) Limited Partnership reported 0.23% of its capital in Bank of America Corporation (NYSE:BAC). They expect $0.59 earnings per share, up 43.90% or $0.18 from last year's $0.41 per share. The business had revenue of $20.69 billion during the quarter, compared to analysts' expectations of $21.61 billion. The company's revenue was up 3.5% on a year-over-year basis. equities research analysts anticipate that Bank of America will post 2.5 earnings per share for the current fiscal year.

Bank of America is now posting a moderate gain after reporting first quarter earnings that beat analyst estimates on strong loan growth. On Friday, September 23 the stock rating was maintained by CLSA with "Outperform". Stockholders of record on Friday, March 2nd were paid a $0.12 dividend. The ex-dividend date was Thursday, March 1st. While the French CAC 40 Index is just below the unchanged line, the German DAX Index is down by 0.3 percent and the U.K.'s FTSE 100 Index is down by 0.7 percent. Bank of America's payout ratio is presently 26.23%. James Invest Rech has invested 0.06% in Bank of America Corporation (NYSE:BAC).

JPMorgan CFO Marianne Lake also said Friday that it was still too early to gauge whether President Trump's tax law would bring more loan growth, even though the bank remains upbeat on the law's potential impact eventually. Dynamic Cap Mngmt Ltd has invested 0.37% of its portfolio 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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