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Traders Sell Shares of Bank of America Corporation (BAC) on Strength (BAC)

17 September 2017

Kimberly Clark Corporation (NYSE:KMB) had an increase of 6.31% in short interest. Jennison Associates Llc sold 46,487 shares as the company's stock declined 2.83% while stock markets rallied. With 1.16M avg volume, 7 days are for Kimberly Clark Corporation (NYSE:KMB)'s short sellers to cover KMB's short positions. The fund acquired 141,700 shares of the financial services provider's stock, valued at approximately $3,438,000. The original version of this piece can be read at https://www.truebluetribune.com/2017/09/17/stock-traders-buy-large-volume-of-put-options-on-bank-of-america-corporation-bac.html. It has underperformed by 18.15% the S&P500.

As of now, Bank of America Corporation has a P/S value of 4.81, measuring P/B at 0.99. The financial services provider reported $0.46 EPS for the quarter, beating the Zacks' consensus estimate of $0.43 by $0.03.

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Bank of America Corporation announced that its board has approved a share buyback plan on Wednesday, June 28th that permits the company to repurchase $12.00 billion in shares. Citigroup maintained Bank of America Corp (NYSE:BAC) rating on Wednesday, January 11. Therefore 66% are positive. After $0.52 actual EPS reported by Hilton Worldwide Holdings Inc for the previous quarter, Wall Street now forecasts -3.85% negative EPS growth. The stock of Varonis Systems Inc (NASDAQ:VRNS) has "Outperform" rating given on Friday, August 12 by Imperial Capital. The firm has "Market Perform" rating by Keefe Bruyette & Woods given on Monday, May 16. Wood has "Market Perform" rating and $16 target. Finally, Wells Fargo & Company began coverage on Bank of America Corporation in a research report on Wednesday, August 9th. The company was initiated on Wednesday, July 13 by Berenberg. The stock has "Buy" rating by RBC Capital Markets on Wednesday, August 30. The rating was maintained by Jefferies on Tuesday, June 6 with "Buy". UBS downgraded it to "Neutral" rating and $23 target in Wednesday, January 11 report. Societe Generale downgraded the shares of BAC in report on Tuesday, September 13 to "Hold" rating. Investors of record on Friday, September 1st will be issued a $0.12 dividend. Its down 0.03, from 1.15 in 2016Q3. It increased, as 62 investors sold Bank of America Corp shares while 560 reduced holdings.

Several hedge funds have recently added to or reduced their stakes in the company. The financial services provider reported $0.46 EPS for the quarter, topping the consensus estimate of $0.43 by $0.03. Moreover, Nadler Fincl Gru Inc has 0.12% invested in Bank of America Corp (NYSE:BAC) for 14,987 shares. Fmr Lc holds 1.88 million shares. Spears Abacus Limited Com holds 268,250 shares. Green Square Lc holds 44,240 shares or 0.2% of its portfolio.

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Atlantic Trust Group Llc increased Bank Of America Corp Com (BAC) stake by 5.42% reported in 2016Q4 SEC filing. Exane Derivatives, France-based fund reported 52,503 shares. Clough Partners Ltd Partnership invested 3.31% of its portfolio in Bank of America Corp (NYSE:BAC). Woodstock holds 111,719 shares. Bank of America Corp (NYSE:BAC) has risen 58.64% since September 17, 2016 and is uptrending. United Asset Strategies Incorporated invested in 25,418 shares. Credit Suisse Ag accumulated 0.42% or 19.22M shares. Montrusco Bolton Invs has invested 0.02% in Bank of America Corp (NYSE:BAC). Hilton Worldwide Holdings Inc (NYSE:HLT) has risen 50.92% since September 17, 2016 and is uptrending. Its up 0.11, from 0.86 in 2016Q3. Institutional investors own 61.66% of the company's stock. Carret Asset Limited Liability Corporation owns 159,724 shares. Armbruster Capital Management Inc. now owns 4,323 shares of the financial services provider's stock worth $102,000 after buying an additional 423 shares during the last quarter. Thrivent Financial For Lutherans invested 0.3% of its portfolio in Invesco Ltd. (NYSE:IVZ). Finally, Investec Asset Management LTD increased its position in shares of Bank of America Corporation by 68.6% in the 2nd quarter. Corvex Mgmt Lp has invested 3.79% in Ball Corporation (NYSE:BLL). The California-based Fuller & Thaler Asset Management Inc. has invested 1% in the stock. Cornerstone Advisors holds 118,300 shares or 0.48% of its portfolio. Profund Ltd Liability Corp reported 638,239 shares. Altavista Wealth Inc holds 0.17% or 2,705 shares. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company's stock. Therefore 65% are positive. Bank of America Corporation has a 12 month low of $14.81 and a 12 month high of $25.80. Robert W. Baird has "Neutral" rating and $18 target. Deutsche Bank has "Buy" rating and $47 target. The stock decreased 0.33% or $0.06 on September 15, reaching $18.09. The company was maintained on Monday, October 10 by Jefferies. Stifel Nicolaus initiated the stock with "Hold" rating in Tuesday, September 29 report. The firm earned "Overweight" rating on Monday, September 21 by JP Morgan. Pax World Management Llc who had been investing in Bank Of America Corp. for a number of months, seems to be bullish on the $257.22B market cap company. The company was maintained on Thursday, October 22 by RBC Capital Markets. The Company's packaging products are produced for a range of end uses and are manufactured in facilities around the world. Bank Of America now has $255.38 billion valuation. The powerful forward P/E ratio allows investors a quick snapshot of the organization's finances without getting involved in the complicated details of the accounting report. The Company's Personal Care segment offers various solutions and products, such as disposable diapers, training and youth trousers, swimpants, baby wipes, feminine and incontinence care products, and other related products.

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