Bank of America earnings: Expect flat trading, but boost in advisory fees

The stock rose 0.04% or $0.03 reaching $83.19.

Shares of Bank of America Corporation (BAC) traded down 0.6084% during midday trading on Monday, hitting $24.0627. Novartis AG (ADR) (NYSE:NVS) has risen 7.67% since July 17, 2016 and is uptrending. It has underperformed by 9.16% the S&P500.

Arete Wealth Advisors Llc decreased Bank Of America Corporation (BAC) stake by 5.65% reported in 2016Q4 SEC filing. Moneta Group Investment Advisors Llc bought 28,000 shares as the company's stock declined 6.00% while stock markets rallied. Bank Amer Corp now has $236.92 billion valuation. Armbruster Capital Management Inc. now owns 4,323 shares of the financial services provider's stock worth $102,000 after buying an additional 423 shares during the last quarter. About 32.48 million shares traded. Motco holds 0.01% of its portfolio in Bank of America Corp (NYSE:BAC) for 6,030 shares. It has outperformed by 60.61% the S&P500.The move comes after 6 months negative chart setup for the $2.11B company.

Earnings: Analysts surveyed by FactSet expect earnings per share of 43 cents, up about 19% from the 36 cents posted in the year-earlier quarter. NVS's profit will be $3.04 billion for 17.93 P/E if the $1.16 EPS becomes a reality. After $0.41 actual EPS reported by Bank of America Corp for the previous quarter, Wall Street now forecasts 4.88% EPS growth. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company's stock. Therefore 27% are positive. The stock has "Buy" rating by Jefferies on Wednesday, October 7.

Yet Macquarie's price target for the bank, $27, suggests a gain of only 8.7%, an increase that is lower than three of the other four USA banks it tracks. Robert W. Baird downgraded Bank of America Corp (NYSE:BAC) on Wednesday, November 16 to "Neutral" rating. This buyback authorization permits the financial services provider to purchase up to 4.8% of its stock through open market purchases. The correct version of this story can be read at https://www.chaffeybreeze.com/2017/07/17/bank-of-america-corporation-bac-earns-outperform-rating-from-cibc.html. The firm has "Buy" rating given on Wednesday, January 11 by Societe Generale. The company was maintained on Friday, September 23 by CLSA. The rating was downgraded by Needham to "Hold" on Tuesday, April 26. UBS Asset Management Americas Inc. increased its stake in shares of Bank of America Corporation by 25.5% in the fourth quarter. Integrated Investment Consultants LLC now owns 4,368 shares of the financial services provider's stock worth $103,000 after buying an additional 500 shares in the last quarter. Schwab Charles Inc holds 0.01% of its portfolio in Fabrinet (NYSE:FN) for 186,040 shares.

Investors sentiment increased to 1.1 in Q4 2016. Its up 0.09, from 1.01 in 2016Q3. It increased, as 62 investors sold BAC shares while 560 reduced holdings. 207 funds opened positions while 479 raised stakes. Coastline Trust Communication owns 0.1% invested in Bank of America Corp (NYSE:BAC) for 22,079 shares. Moreover, Hilltop has 0.26% invested in Bank of America Corp (NYSE:BAC). Nomura reiterated a buy rating on shares of Bank of America Corporation in a research note on Wednesday, April 19th. Greenwood Assoc Ltd, a South Carolina-based fund reported 283,191 shares. Keybank National Association Oh stated it has 465,839 shares. Stonebridge Capital Management reported 13,550 shares. King Luther accumulated 3.55 million shares. Daiwa Gru Incorporated Inc reported 739,350 shares or 0.1% of all its holdings. Public Employees Retirement Association Of Colorado holds 5,670 shares. 51,135 are held by Brookfield Asset Mngmt. Nelson Van Denburg Campbell Wealth Grp Inc Ltd holds 17,007 shares. Aull & Monroe Invest Mngmt accumulated 77,612 shares. Athena Capital Advisors Limited Company owns 81,590 shares. The hedge fund run by Kevin D. Eng held 1.11 million shares of the major banks company at the end of 2016Q4, valued at $24.47 million, down from 2.71 million at the end of the previous reported quarter. Shareholders of record on Friday, June 2nd were given a dividend of $0.075 per share. Zacks Investment Research raised shares of Bank of America Corporation from a "hold" rating to a "buy" rating and set a $28.00 price target for the company in a research note on Tuesday, March 21st. Therefore 100% are positive. Bank of America had 67 analyst reports since July 21, 2015 according to SRatingsIntel. (NASDAQ:TRIL) to report earnings on August, 11. The firm has "Buy" rating by Deutsche Bank given on Tuesday, August 25. The company now has a consensus rating of Buy and a consensus target price of $23.03. Macquarie Research upgraded Bank of America Corp (NYSE:BAC) on Tuesday, August 25 to "Underperform" rating. Keefe, Bruyette & Woods reissued an "overweight" rating on shares of Bank of America Corporation in a report on Thursday. The firm earned "Buy" rating on Tuesday, June 14 by Needham. The firm earned "Outperform" rating on Wednesday, March 2 by Credit Suisse. As per Friday, November 4, the company rating was upgraded by Gabelli. Jefferies has "Buy" rating and $2800 target.

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