Bank of America reports strong Q1 results on deposit and loan growth

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Canada Pension Plan Investment Board now owns 40,159,612 shares of the financial services provider's stock worth $1,017,645,000 after buying an additional 4,801,300 shares during the last quarter.

The second-largest USA bank by assets said net income attributable to shareholders rose to $6.49 billion in the three months ended March 31 from $4.84 billion a year earlier. Bluefin Trading Llc who had been investing in Bank Amer Corp for a number of months, seems to be bullish on the $304.68B market cap company. The stock decreased 2.77% or $0.85 during the last trading session, reaching $29.8. BAC has 99.25M volume or 29.22% up from normal. 17 are the (NYSE:BAC)'s analyst reports since October 31, 2017 according to StockzIntelligence Inc. Credit Suisse Group increased their price target on shares of Bank of America from $35.00 to $36.00 and gave the stock an "outperform" rating in a report on Friday, March 16th.

In total 13 analysts cover Bank of America (NYSE:BAC). The positive are 77%.

Bank of America has reported its most profitable start to a year on record - but a strong first quarter for equities trading was the sole bright spot at its global investment bank. The stock of Bank of America Corporation (NYSE:BAC) has "Outperform" rating given on Thursday, February 16 by Macquarie Research. On Friday, January 19 the stock rating was maintained by Sandler O'Neill with "Buy". The firm has "Buy" rating by RBC Capital Markets given on Wednesday, December 6. On Wednesday, April 4 the firm has "Buy" rating by Keefe Bruyette & Woods given. $32.89's average target is 10.37% above currents $29.8 stock price. Credit Suisse's Susan Roth Katzke, who has always been bullish on big banks, reiterated an Outperform rating and $36 price target on Bank of America shares today, writing that the quarter was "solidly positive and supportive" of her optimism about the shares. As per Wednesday, January 11, the company rating was downgraded by UBS. The rating was maintained by JP Morgan on Wednesday, November 1 with "Overweight".

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Investors sentiment increased to 1.19 in 2017 Q4. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.61%. It improved, as 66 investors sold BAC shares while 561 reduced holdings. 162 funds acquired holdings and 585 increased holdings.

Capital Advantage Inc. lessened its position in Bank of America (NYSE:BAC) by 9.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). Massachusetts-based Boston Ptnrs has invested 2.44% in Bank of America Corporation (NYSE:BAC). Ally Financial invested 0.6% in Bank of America Corporation (NYSE:BAC). Dynamic Cap Mngmt Ltd has invested 0.37% of its portfolio in Bank of America Corporation (NYSE:BAC). Cortland Associate Mo invested in 5,430 shares. Ngam LP invested in 1.32 million shs. Moreover, Amica Mutual Ins Communication has 0.91% invested in Bank of America Corporation (NYSE:BAC) for 312,335 shares. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. Shoker Inv Counsel accumulated 17,017 shs or 0.36% of the stock. Replay information for Investor Conference Call Investors can access replays of the conference call by visiting the Investor Relations website or by calling 1.800.934.4850 (U.S.) or 1.402.220.1178 (international) from noon on April 16, through 11:59 p.m. ET on April 23. Ci Investments Inc holds 0.89% or 3.14 million shs in its capital. First-quarter results also compare to the consensus estimates for EPS of $0.59 on revenue of $23.06 billion. In case of $0.59 EPS BAC's profit could be $6.03 billion.

Mortgage banking income ended its run as a separate line on a sour note: including provisions for payments to investors, the last two quarters of 2017 were negative. Its up 0.15, from 1.04 in 2017Q3. 107 funds opened positions while 281 raised stakes. Yorktown Mngmt And Rech Inc holds 0.6% or 71,000 shs.

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