Bank of America discloses record profit

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TRADEMARK VIOLATION NOTICE: "Pettee Investors Inc". About 7.56 million shares traded. (NYSE:DLR) has declined 0.09% since April 15, 2017 and is downtrending. It has outperformed by 29.03% the S&P500.

Bruce Kovner decreased its stake in Bank Amer Corp (BAC) by 74.36% based on its latest 2017Q4 regulatory filing with the SEC. Since October 16, 2017 according to StockzIntelligence Inc Bank of America has 20 analyst reports. $304.68 billion is the market cap of Bank Of America Corp.

Shares of BAC traded down $0.85 on Friday, hitting $29.80.

Analysts on average had expected 59 cents per share, according to Thomson Reuters I/B/E/S. It has outperformed by 16.63% the S&P500. Therefore 73% are positive. ValuEngine upgraded shares of Bank of America from a "hold" rating to a "buy" rating in a research report on Friday, February 2nd. Bank of America's dividend payout ratio is 26.23%. The stock of Microsoft Corporation (NASDAQ:MSFT) earned "Buy" rating by Cowen & Co on Tuesday, October 31. On Tuesday, January 9 the firm earned "Buy" rating by Sandler O'Neill. The stock of Digital Realty Trust, Inc. The company rating was maintained by RBC Capital Markets on Wednesday, December 6. On Monday, October 16 the stock rating was maintained by UBS with "Neutral". As per Tuesday, December 12, the company rating was maintained by Keefe Bruyette & Woods. Bernstein upgraded it to "Mkt Perform" rating and $19.0 target in Tuesday, August 25 report. The firm has "Hold" rating by Wunderlich given on Wednesday, July 22. KeyBanc Capital Markets maintained Netflix, Inc. (NYSE:DLR) on Friday, December 22 to "Buy" rating. Nine research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. FRIEDLAND JONATHAN also sold $563,938 worth of Netflix, Inc. As it's issued in Securities and Exchange form the stake in Mastercard Inc A (NYSE:MA) is upped by 147,770 shares to 442,112 shares. (NYSE:DLR) for 2,915 shares. 11,264 shares were sold by HOAG JAY C, worth $3.01 million.

Burt Wealth Advisors increased its stake in shares of Bank of America by 4,013.1% during the third quarter. Its down 0.03, from 1.02 in 2017Q3. It turned negative, as 53 investors sold DLR shares while 185 reduced holdings. 107 funds opened positions while 281 raised stakes. Ally Financial, a Michigan-based fund reported 105,000 shares. It's down from 3.80M at the end of the previous reported quarter. Nordea Mgmt Ab holds 0.12% of its portfolio in Walmart Inc. Hedeker Wealth Lc reported 45,775 shares. (NYSE:WMT). Martin Tn has 0.67% invested in Walmart Inc. Janney Montgomery Scott Ltd Limited Liability Company holds 15,518 shares. Mitsubishi Ufj Tru And Banking invested in 0.42% or 1.26 million shares. Chelsea Counsel Comm has invested 3.97% in Walmart Inc. MPS Loria Financial Planners LLC acquired a new stake in shares of Bank of America during the 2nd quarter worth approximately $115,000. Brinker reported 47,232 shs or 0.05% of all its holdings. Denver Inv Ltd Liability Corp reported 0.01% of its portfolio in Netflix, Inc. Ing Groep Nv reported 9,390 shares. 886,928 are held by Thrivent Financial For Lutherans. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.91 and a quick ratio of 0.90. TIAA CREF Investment Management LLC now owns 63,635,295 shares of the financial services provider's stock valued at $1,543,792,000 after buying an additional 1,079,788 shares during the last quarter.

The results come after other large USA banks on Friday reported their earnings for the first quarter. They expect $0.59 earnings per share, up 43.90 % or $0.18 from last year's $0.41 per share. MSFT's profit will be $6.54 billion for 27.38 P/E if the $0.85 EPS becomes a reality. After $0.47 actual EPS reported by Bank of America Corporation for the previous quarter, Wall Street now forecasts 25.53% EPS growth.

Investors sentiment increased to 1.19 in Q4 2017. Its down 0.06, from 0.83 in 2017Q3.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BAC. Beech Hill Advsr accumulated 105,404 shares. Auxier Asset Management owns 62,567 shares. Investors of record on Friday, March 2nd were paid a dividend of $0.12 per share. The original version of this piece can be viewed at Old Second State Bank Of Aurora reported 1.13% of its portfolio in Bank of America Corporation (NYSE:BAC). Utah Retirement Sys has 1.81 million shares for 1.12% of their portfolio. Kistler reported 14,906 shares. Missouri-based Confluence Investment Ltd Liability has invested 0% in Bank of America Corporation (NYSE:BAC). Moreover, Advantus Cap Mngmt has 0.72% invested in Bank of America Corporation (NYSE:BAC). Bank of America Corporation (NYSE:BAC) has risen 28.18% since April 16, 2017 and is uptrending. On Tuesday, January 2 the stock of Bank of America Corporation (NYSE:BAC) earned "Hold" rating by Robert W. Baird. Therefore 57% are positive.

Bank of America has formed a flat base with a 33.15 buy point, but shares are trading below their 50-day line. As per Friday, November 13, the company rating was upgraded by Northcoast. Morgan Stanley has "Overweight" rating and $37 target. Credit Suisse Group increased their price objective on Bank of America from $35.00 to $36.00 and gave the stock an "outperform" rating in a research note on Friday, March 16th. Berenberg initiated the stock with "Buy" rating in Wednesday, July 13 report. The company was maintained on Thursday, September 14 by Jefferies. The company was maintained on Sunday, October 8 by RBC Capital Markets.