Large Outflow of Money Witnessed in Bank of America Corporation

Bank of America Corporation (BAC) traded higher in the last at $22.9, gaining 0.26 points or 1.13%. From the data available, it can be said that the stock did not make an impact in the money flow department with the net figure coming to be $(-6.31) million. The composite uptick value of $292.42 million was eclipsed by the accrued downtick value of $298.72 million, thereby ensuring the up/down ratio of 0.98. For the week, the shares have posted returns of -1.99%.A block trade registered during the day has revealed $115.62 million in upticks and $134.32 million in downticks. The up/down ratio in this case turned out to be 0.86. The net money flow for the block trade was $(-18.7) million.Block trades are executed by Investment Banking firms or Wealth Managers shifting positions or Day traders taking advantage of trading signals.

Bank of America Corporation has dropped 2.05% in the last five trading days, however, the shares have posted positive gains of 3.57% in the last 4 weeks. Bank of America Corporation is up 39.24% in the last 3-month period. Year-to-Date the stock performance stands at 3.57%. Bank of America Corporation (NYSE:BAC) rose 1.1% or 0.25 points on Wednesday and made its way into the gainers of the day. After trading began at $22.97 the stock was seen hitting $23.22 as a peak level and $22.82 as the lowest level. The stock ended up at $22.89. The daily volume was measured at 103,630,853 shares. The 52-week high of the share price is $23.55 and the 52-week low is $10.99. The company has a market cap of $230,105 million.

Company has reported several Insider transactions to the SEC, on Nov 23, 2016, Michael D White (director) purchased 25,000 shares at 20.14 per share price.On Aug 3, 2016, Thomas D Woods (director) purchased 25,000 shares at 14.13 per share price.On Feb 22, 2016, Thong M Nguyen (Pres, Ret. Bnkg & Co-Hd CB) purchased 30,000 shares at 12.43 per share price.

Bank of America Corp Last issued its quarterly earnings results on Jan 13, 2017. The company reported $0.40 EPS for the quarter, beating the analyst consensus estimate by $ 0.02. Analyst had a consensus of $0.38. The company had revenue of $19990.00 million for the quarter, compared to analysts expectations of $21057.81 million. The companys revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 EPS.

Several Stock Research Financial Advisors from Investment Banking firms have advised their client and investors on the stock.Company shares were Reiterated by Citigroup on Jan 11, 2017 to Buy, Raises Price Target to $ 26 from a previous price target of $19 .Bank of America Corp was Upgraded by Societe Generale to Buy on Jan 11, 2017. Company shares were Reiterated by Barclays on Jan 3, 2017 to Equal Weight, Raises Price Target to $ 26 from a previous price target of $19 .Bank of America Corp was Downgraded by Standpoint Research to Hold on Dec 1, 2016. Bank of America Corp was Upgraded by Keefe Bruyette to Outperform on Nov 29, 2016.

Bank of America Corp. is one of the worlds leading financial services companies. Bank of America provides individuals, small businesses and commercial, corporate and institutional clients across the United States and around the world new and better ways to manage their financial lives. The company enables customers to do their banking and investing whenever, wherever and however they choose.


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