Bank Of America Corp (NYSE:BAC) Institutional Investors Sentiment Unchanged in 2019 Q2

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Sentiment for Bank Of America Corp (NYSE:BAC)

Bank Of America Corp (NYSE:BAC) institutional sentiment is 0.99 in Q2 2019. Its the same as in 2019Q1. The ratio is neither positive nor negative, as only 614 investment managers opened new and increased holdings, while 619 reduced and sold stock positions in Bank Of America Corp. The investment managers in our partner’s database reported: 6.42 billion shares, up from 6.30 billion shares in 2019Q1. Also, the number of investment managers holding Bank Of America Corp in their top 10 holdings decreased from 132 to 126 for a decrease of 6. Sold All: 51 Reduced: 568 Increased: 490 New Position: 124.

Bank of America Corporation, through its subsidiaries, provides banking and financial services and products for individual consumers, small and middle-market businesses, institutional investors, large firms, and governments worldwide. The company has market cap of $280.88 billion. It operates through four divisions: Consumer Banking, Global Wealth & Investment Management, Global Banking, and Global Markets. It has a 10.74 P/E ratio. 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.

The stock increased 1.70% or $0.5 during the last trading session, reaching $30.17. About 69.10 million shares traded or 29.24% up from the average. Bank of America Corporation (NYSE:BAC) has declined 2.01% since September 13, 2018 and is downtrending. It has underperformed by 2.01% the S&P500.

Analysts await Bank of America Corporation (NYSE:BAC) to report earnings on October, 21. They expect $0.68 earnings per share, up 3.03 % or $0.02 from last year’s $0.66 per share. BAC’s profit will be $6.33B for 11.09 P/E if the $0.68 EPS becomes a reality. After $0.74 actual earnings per share reported by Bank of America Corporation for the previous quarter, Wall Street now forecasts -8.11 % negative EPS growth.

Daily Journal Corp holds 44.5% of its portfolio in Bank of America Corporation for 230.00 million shares. Theleme Partners Llp owns 14.18 million shares or 19.94% of their US portfolio. Moreover, Salzhauer Michael has 19.75% invested in the company for 1.42 million shares. The Nebraska-based Berkshire Hathaway Inc has invested 12.92% in the stock. Darsana Capital Partners Lp, a New York-based fund reported 12.00 million shares.

Bank of America Corporation (NYSE:BAC) Ratings Coverage

Ratings analysis reveals 60% of Bank of America’s analysts are positive. Out of 5 Wall Street analysts rating Bank of America, 3 give it “Buy”, 0 “Sell” rating, while 2 recommend “Hold”. The lowest target is $2900 while the high is $40. The stock’s average target of $33.50 is 11.04% above today’s ($30.17) share price. BAC was included in 13 notes of analysts from March 23, 2019. The firm has “Market Perform” rating given on Wednesday, April 17 by BMO Capital Markets. The firm earned “Hold” rating on Wednesday, April 17 by Jefferies. On Tuesday, March 26 the stock rating was maintained by Oppenheimer with “Outperform”. As per Tuesday, June 18, the company rating was upgraded by BMO Capital Markets. The rating was downgraded by Wood on Friday, September 6 to “Market Perform”. The company was maintained on Tuesday, July 9 by JP Morgan. The firm has “Outperform” rating given on Friday, July 26 by Wood.

More notable recent Bank of America Corporation (NYSE:BAC) news were published by: Fool.com which released: “Better Buy: Bank of America vs. JPMorgan Chase – The Motley Fool” on August 23, 2019, also Finance.Yahoo.com with their article: “Bank of America Corporation (NYSE:BAC) Looks Interesting, And It’s About To Pay A Dividend – Yahoo Finance” published on September 01, 2019, Investorplace.com published: “5 Top Stock Trades for Thursday: VEEV, CGC, BAC, TIF – Investorplace.com” on August 28, 2019. More interesting news about Bank of America Corporation (NYSE:BAC) were released by: Finance.Yahoo.com and their article: “Our Take On Bank of America Corporation’s (NYSE:BAC) CEO Salary – Yahoo Finance” published on July 24, 2019 as well as Finance.Yahoo.com‘s news article titled: “Do Institutions Own Shares In Bank of America Corporation (NYSE:BAC)? – Yahoo Finance” with publication date: June 05, 2019.

Bank of America Corporation (NYSE:BAC) Institutional Positions Chart

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