Bank of America continues strong United States banking results with earnings beat

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The stock has increased 61 per cent in the last 12 months. Coastline Trust Co bought a new stake in shares of Bank of America Corp during the third quarter valued at $377,000.

Bank of America Corporation (BAC) opened the session with a $22.56 price tag, later ranging from $22.34 to $22.96, the range at which the stock has traded at throughout the day. The firm has a market cap of $239.88 billion, a price-to-earnings ratio of 15.24 and a beta of 1.47. In order to determine directional movement, the 50-day and 200-day moving averages for USG Corporation (NYSE:USG) are $32.85 and $29.6.

Like all the major bank stocks, Bank of America ( BAC ) moved strongly higher following the presidential election.

Bank of America's investment and trading divisions, which includes Merrill Lynch, also had a strong quarter, in line with the bank's competitors.

Several institutional investors have recently added to or reduced their stakes in the stock. There are advantages to using a moving average in your trading, as well options on what type of moving average to use.

Bank of America Corp (NYSE:BAC) last issued its quarterly earnings results on Friday, January 13th.

The analyst reduced his EPS estimate by 30 cents a share to $19.00 for 2017 and kept his 2018 EPS estimate at $21.00.

Many Analysts provided their foresight on Revenue Estimates of Bank of America Corporation where they believe that the company has the potential to earn average revenue of $1 for the current quarter. The stock witnessed -11.28% declines, -2.23% declines and 40.31% gains for the 1-month, 3-month and 6-month period, respectively.

The company reported an impressive total revenue of 0 in the last fiscal year.

In this Thursday, April 13, 2017, photo, a man uses a Bank of America ATM near the company's headquarters in Charlotte, N.C. Bank of America Corporation reports earnings Tuesday, April 18, 2017. The business's revenue for the quarter was up 6.9% on a year-over-year basis. Shareholders of record on Friday, March 3rd were paid a dividend of $0.075 per share. Bank of America Corp's dividend payout ratio (DPR) is presently 21.74%.

If you are reading this piece on another website, it was illegally stolen and republished in violation of USA & global copyright & trademark laws. If you are viewing this story on another website, it was illegally copied and reposted in violation of United States & global trademark & copyright legislation. Finally, Mendon Capital Advisors Corp increased its position in Seacoast Banking Corporation of Florida by 39.4% in the second quarter.

Stock is now moving with a positive distance from the 200 day simple moving average of approximately 18.4%, and has a solid year to date (YTD) performance of 3.53% which means the stock is constantly adding to its value from the previous fiscal year end price. Daiwa Capital Markets raised Bank of America Corp from a "hold" rating to an "outperform" rating in a research report on Tuesday, February 7th. Analysts giving shares a rating of 1 or 2 would be indicating a Buy.

BofA's shares were down about 1.1 percent at $22.56 in mid-day trading, consistent with the broader banking sector and following surprisingly weak trading results from Goldman Sachs Group Inc (GS.N).

The bank follows in the footsteps of JPMorgan, Citigroup, and Wells Fargo, which reported last week.

According to the Recommendation Trends of the stock polled by Zacks Investment Research for this month, the company has a consensus recommendation of 1.7 out of the scale from 1 to 5 where 1 stands for Strong Buy and 5 means Strong Sell.