Bank of America Corp (BAC) Earnings: 10 Things to Know About Q3

America branch in downtown Miami. Bank of America Corp. reports earnings Friday Oct. 13 2017

Bank of America's third-quarter profit rises 13 percent

Janus Henderson Group PLC now owns 13,598,678 shares of the financial services provider's stock valued at $329,911,000 after purchasing an additional 11,619,173 shares in the last quarter. BidaskClub upgraded Bank of America Corporation from a sell rating to a hold rating in a research report on Friday, August 4th.

Several other research analysts also recently commented on BAC. Waldron LP raised its holdings in shares of Bank of America Corporation by 112.2% during the first quarter. Icon Advisers Inc reported 897,710 shares stake.

The Charlotte-based bank said it earned $5.59 billion in the third quarter, or 48 cents per share, compared with $4.96 billion, or 41 cents per share, in the same period year ago. Tarbox Family Office Inc. raised its holdings in shares of Bank of America Corporation by 0.4% in the 2nd quarter.

The bank, America's second largest by assets, yesterday reported a 15 per cent jump in profits compared with the same time a year ago. Wealth Architects Ltd Liability Com has 27,309 shares for 0.25% of their portfolio. Northwest Investment Counselors LLC purchased a new stake in Bank of America Corporation during the second quarter valued at $100,000.

Scholtz & Company Llc, which manages about $132.60 million and $115.94M US Long portfolio, decreased its stake in Svb Financial Group (NASDAQ:SIVB) by 11,443 shares to 11,689 shares, valued at $2.06M in 2017Q2, according to the filing. Hedge funds and other institutional investors own 61.64% of the company's stock.

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Analysts at Credit Suisse think the stock, along with that of other banking giants, could benefit from potential tax cuts and "progress on regulatory reform ". Scholtz & Company Llc who had been investing in Bank Of America Corp for a number of months, seems to be bullish on the $272.52B market cap company. Finally, Royal Bank Of Canada reaffirmed a "buy" rating and set a $26.00 target price on shares of Bank of America Corporation in a research report on Thursday, July 20th. Guggenheim downgraded the shares of BAC in report on Tuesday, November 15 to "Neutral" rating. The stock of Bank of America Corp (NYSE:BAC) has "Underperform" rating given on Tuesday, August 25 by Macquarie Research. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company.

Bank of America shares were about 1 percent in midday trading to $25.70.

BofA's shares rose about 1 percent in premarket trade. The company has market cap of $131.42 billion. The company has a 50-day moving average price of $24.71 and a 200 day moving average price of $23.93. Bank of America Corporation has a 1-year low of $15.90 and a 1-year high of $26.30.

Bank of America Corporation (NYSE:BAC) last posted its quarterly earnings results on Friday, October 13th.

In terms of earnings per share, 25 analysts have a 0.47 EPS mean target for the quarter ending Dec-17, for the quarter ending Mar-18, 18 analysts have a 0.46 EPS mean target and for the quarter ending Mar-18 there are 29 estimates of 1.79 EPS. Bank of America Corporation had a return on equity of 8.11% and a net margin of 20.28%.

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Looking forward, for the quarter ending Dec-17, 13 analysts have a mean sales target of 21,910.80 million. -Earnings Growth (Y-o-Y): 15.1% -EPS (Q3): $0.48 vs. $0.41 previous year. The firm's quarterly revenue was up 2.1% compared to the same quarter past year. About 81,533 shares traded. On Tuesday, September 1 the stock rating was upgraded by Bernstein to "Buy". Parametric Portfolio Associates LLC increased its holdings in shares of Bank of America Corporation by 52.4% during the 2nd quarter.

The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Its down 0.03, from 1.15 in 2017Q1. The ex-dividend date was Wednesday, August 30th. This represents a $0.48 annualized dividend and a yield of 1.86%. -Revenue Change (Y-o-Y): 0.9%. Covington has invested 2% in M&T Bank Corporation (NYSE:MTB). The rating was maintained by Jefferies with "Hold" on Friday, August 18. The stock was sold at an average price of $24.16, for a total transaction of $2,096,194.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The stock decreased 0.03% or $0.11 on October 13, reaching $355.57.

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Bank of America Corporation is a bank holding company and a financial holding company. The Firm is a financial institution, serving individual clients and others with a range of banking, investing, asset management and other financial and risk management services and products.

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