Societe Generale Lowers Bank of America (BAC) to Hold

Leslie Hanson
January 13, 2018

The company has an average rating of "Buy" and a consensus price target of $29.14. M&T Bank had 77 analyst reports since August 6, 2015 according to SRatingsIntel. 66,371,596 shares of the company's stock were exchanged, compared to its average volume of 73,990,000. As per Thursday, December 17, the company rating was initiated by FBR Capital. Summit Securities Group Llc bought 314,065 shares as the company's stock declined 6.00% while stock markets rallied.

Performance Food Group Company (NYSE:PFGC) had a decrease of 2.9% in short interest. On Tuesday, November 15 the stock rating was downgraded by FBR Capital to "Mkt Perform".

Kenmare Capital Partners Llc increased its stake in Career Education Corp (CECO) by 33.55% based on its latest 2017Q3 regulatory filing with the SEC. On Wednesday, August 12 the stock rating was maintained by Deutsche Bank with "Hold". See Resource Capital Corp. Atria Investments stated it has 0.17% in Bank of America Corporation (NYSE:BAC). After $0.48 actual EPS reported by Bank of America Corporation for the previous quarter, Wall Street now forecasts -4.17% negative EPS growth.

The stock increased 0.36% or $0.11 during the last trading session, reaching $30.66. About 50.97M shares traded. Bank of America Corporation (NYSE:BAC) has risen 58.64% since January 12, 2017 and is uptrending. It has outperformed by 18.90% the S&P500.

Since August 1, 2017, it had 0 insider buys, and 4 selling transactions for $1.92 million activity. $2.10 million worth of stock was sold by BRAMBLE FRANK P on Thursday, August 10. The Company, through its banking and various non-bank subsidiaries, throughout the United States and in worldwide markets, provides a range of banking and non-bank financial services and products through four business segments: Consumer Banking, which comprises Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S. The Company is a financial institution, serving individual consumers and others with a range of banking, investing, asset management and other financial and risk management products and services. It has a 17.55 P/E ratio. The firm offers demand deposits, and savings and time deposit accounts.

Investors sentiment increased to 1.11 in 2017 Q3. Its down 0.08, from 1.12 in 2017Q2.

Bancorpsouth Inc holds 0.39% of its portfolio in Citizens Holding Company for 158,987 shares. 40 funds opened positions while 81 raised stakes. South Texas Money Mngmt invested 2.76% of its portfolio in Bank of America Corporation (NYSE:BAC). Livingston Gru Asset Mgmt (Operating As Southport Cap Management) reported 0.14% of its portfolio in Bank of America Corporation (NYSE:BAC). Brandywine Tru has 0.3% invested in Bank of America Corporation (NYSE:BAC). Acg Wealth owns 65,160 shares or 0.28% of their U.S. portfolio. The New York-based Maltese Capital Management Llc has invested 0.02% in the stock. Vantage Financial Partners Ltd. Inc. acquired a new position in shares of Bank of America during the 2nd quarter worth about $1,017,000.

Lombard Odier Asset Management Switzerland Sa increased Bank Amer Corp (BAC) stake by 34.38% reported in 2017Q3 SEC filing. Moreover, Royal Bancorporation Of Canada has 0.44% invested in Bank of America Corporation (NYSE:BAC) for 36.48M shares. Mackenzie Financial Corp reported 8.65 million shares. South Dakota Investment Council stated it has 0.02% of its portfolio in AGCO Corporation (NYSE:AGCO). Murphy Cap Mngmt holds 0.12% or 32,065 shares in its portfolio. RIOCF's SI was 1.48 million shares in January as released by FINRA. TIAA CREF Investment Management LLC now owns 63,635,295 shares of the financial services provider's stock worth $1,543,792,000 after purchasing an additional 1,079,788 shares during the period.

Among 19 analysts covering Agco Corporation (NYSE:AGCO), 5 have Buy rating, 3 Sell and 11 Hold. Therefore 60% are positive. Bank of America has a 12-month low of $22.01 and a 12-month high of $31.20. Vanguard Group Inc. now owns 661,494,339 shares of the financial services provider's stock worth $16,047,853,000 after acquiring an additional 9,117,007 shares during the last quarter. The company's quarterly revenue was up 2.1% on a year-over-year basis. research analysts expect that Bank of America Corp will post 1.79 earnings per share for the current year. Robert W. Baird maintained Bank of America Corporation (NYSE:BAC) on Friday, September 29 with "Hold" rating. JP Morgan maintained Bank of America Corporation (NYSE:BAC) on Thursday, April 7 with "Overweight" rating. On Monday, August 24 the stock rating was upgraded by Vetr to "Buy". One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. The firm has "Buy" rating given on Monday, September 25 by RBC Capital Markets. The firm earned "Buy" rating on Wednesday, January 20 by Sandler O'Neill.

Bank of America declared that its Board of Directors has authorized a stock repurchase program on Tuesday, December 5th that permits the company to repurchase $5.00 billion in outstanding shares. The firm has a market capitalization of $325,330.00, a price-to-earnings ratio of 18.13, a P/E/G ratio of 1.71 and a beta of 1.32.

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