Bank of America third-quarter profit rises 13 percent, beat forecasts

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This repurchase authorization authorizes the financial services provider to repurchase up to 4.8% of its shares through open market purchases. BidaskClub downgraded Citigroup from a "buy" rating to a "hold" rating in a research note on Wednesday, July 12th.

Like other banks that reported Thursday, Bank of America also scored a modest increase in overall loans. The stock of Bank of America Corp (NYSE:BAC) has "Buy" rating given on Monday, August 24 by Vetr. Bank of America said the slowdown was "driven by less favorable market conditions across credit-related products, as well as lower volatility in rates products". The stock has a 50 day moving average of $24.65 and a 200 day moving average of $23.91.

Bank of America, the second-largest US bank by assets, employs about 15,000 in Charlotte. Golub Group Llc who had been investing in Pepsico Inc for a number of months, seems to be less bullish one the $159.92 billion market cap company.

Total revenue rose about 1 percent to $22.08 billion. Revenue across the bank's four lines of businesses grew 4 percent, even with a challenging quarter for trading, he said.

Analysts expect Public Storage (NYSE:PSA) to report $2.61 EPS on October, 25.They anticipate $0.10 EPS change or 3.98% from last quarter's $2.51 EPS. The business's revenue for the quarter was up 7.1% compared to the same quarter past year.

In terms of earnings per share, 25 analysts have a 0.47 EPS mean target for the quarter ending Dec-17, for the quarter ending Mar-18, 18 analysts have a 0.46 EPS mean target and for the quarter ending Mar-18 there are 29 estimates of 1.79 EPS.

TRADEMARK VIOLATION WARNING: This piece of content was originally reported by BBNS and is the sole property of of BBNS. If you are reading this news story on another site, it was stolen and republished in violation of USA and worldwide trademark and copyright law. The original version of this piece of content can be accessed at https://baseballnewssource.com/markets/citigroup-inc-reiterates-neutral-rating-for-bank-of-america-corporation-bac/1704355.html. The financial services provider reported $0.46 earnings per share for the quarter, topping the Zacks' consensus estimate of $0.43 by $0.03. The company has its outstanding shares of 10.38B. Its down 0.03, from 1.15 in 2017Q1. The ex-dividend date was Wednesday, August 30th. Capital Management Corp VA boosted its position in Bank of America Corporation by 0.3% in the 2nd quarter.

In other news, CEO Francisco Aristeguieta sold 40,000 shares of the company's stock in a transaction on Thursday, August 10th. Following the sale, the director now owns 50,000 shares of the company's stock, valued at approximately $1,208,000. After a recent check, it is observed that the insiders for the firm now own 0.13% shares. M Holdings Securities Inc. boosted its holdings in shares of Bank of America Corporation by 72.9% during the first quarter. Hot Stocks Point (HSP) makes sure to keep the information up to date and correct, but we didn't suggest or recommend buying or selling of any financial instrument unless that information is subsequently confirmed on your own.

But the bank inched closer to meeting performance goals it set for itself, including a 1% return on average assets and a 12% return on average tangible common equity. Pointe Capital Management LLC's holdings in Bank of America Corporation were worth $454,000 as of its most recent filing with the Securities and Exchange Commission. Capital Management Corp VA now owns 10,385 shares of the financial services provider's stock valued at $252,000 after buying an additional 33 shares during the last quarter. The Johnson Investment Counsel Inc holds 81,455 shares with $1.98M value, up from 39,907 last quarter. The stock rose 0.20% or $0.05 reaching $25.5 per share.

Bank of America Corporation is a bank holding company and a financial holding company.

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