Could Bank of America Corp Lose Strenght? Option Traders Don’t Think So

 Could Bank of America Corp Lose Strenght? Option Traders Don't Think So

In today’s session Bank of America Corp (BAC) registered an unusually high (328) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the May, 2017 call, expecting serious BAC increase. With 328 contracts traded and 84754 open interest for the May, 17 contract, it seems this is a quite bullish bet. The option with symbol: BAC170519C00018000 closed last at: $0.65 or 6.6% up. About 33.53M shares traded hands. Bank of America Corp (NYSE:BAC) has risen 25.47% since April 5, 2016 and is uptrending. It has outperformed by 23.52% the S&P500.

Bank of America Corp (NYSE:BAC) Ratings Coverage

Out of 22 analysts covering Bank of America (NYSE:BAC), 14 rate it a “Buy”, 0 “Sell”, while 8 “Hold”. This means 64% are positive. $21 is the highest target while $15 is the lowest. The $17.89 average target is 5.30% above today’s ($16.99) stock price. Bank of America has been the topic of 44 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The rating was maintained by Deutsche Bank on Tuesday, January 26 with “Buy”. The rating was upgraded by Bernstein to “Mkt Perform” on Tuesday, August 25. The rating was downgraded by Vetr on Tuesday, August 11 to “Buy”. The stock has “Buy” rating given by Jefferies on Wednesday, October 7. The rating was maintained by Deutsche Bank on Tuesday, August 25 with “Buy”. The firm earned “Buy” rating on Tuesday, July 19 by Citigroup. The stock has “Hold” rating given by Societe Generale on Tuesday, September 13. On Monday, August 24 the stock rating was upgraded by KBW to “Outperform”. Oppenheimer maintained the shares of BAC in a report on Saturday, September 5 with “Outperform” rating. Jefferies maintained Bank of America Corp (NYSE:BAC) on Tuesday, July 21 with “Buy” rating.

According to Zacks Investment Research, “Bank of America Corp. is one of the world’s 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.”

Insitutional Activity: The institutional sentiment decreased to 0.9 in 2016 Q2. Its down 0.33, from 1.23 in 2016Q1. The ratio is negative, as 101 funds sold all Bank of America Corp shares owned while 529 reduced positions. 83 funds bought stakes while 482 increased positions. They now own 6.08 billion shares or 0.24% less from 6.09 billion shares in 2016Q1.
Zurcher Kantonalbank (Zurich Cantonalbank) holds 0.42% or 2.44M shares in its portfolio. Cutter And Brokerage has 21,538 shares for 0.12% of their US portfolio. Smithfield has 0.04% invested in the company for 15,884 shares. Lincoln Corporation last reported 13,197 shares in the company. Ivory Inv Mgmt Limited Liability Company holds 3.09M shares or 1.13% of its portfolio. Crystal Rock Cap holds 0.88% of its portfolio in Bank of America Corp (NYSE:BAC) for 90,000 shares. E&G Advisors Lp holds 0.67% or 82,853 shares in its portfolio. Proshare Ltd Liability Company last reported 2.60 million shares in the company. Neville Rodie And Shaw, a New York-based fund reported 44,928 shares. Dixon Hubard Feinour & Brown Va has invested 0.16% of its portfolio in Bank of America Corp (NYSE:BAC). Rand Wealth Limited Liability last reported 166,184 shares in the company. Mufg Americas last reported 75,189 shares in the company. Daily Journal Corporation has invested 27.27% of its portfolio in Bank of America Corp (NYSE:BAC). Howard Capital Mgmt last reported 22,782 shares in the company. Manchester Management Ltd Company has 0.02% invested in the company for 8,560 shares.

Insider Transactions: Since August 2, 2016, the stock had 1 buying transaction, and 1 insider sale for $11.52 billion net activity. YNOFACE Holdings Inc had sold 1.25 billion shares worth $11.52B on Monday, August 15. Woods Thomas D bought $353,250 worth of stock or 25,000 shares.

Bank of America Corporation is a bank holding and financial holding company. The company has a market cap of $173.17 billion. The Firm is a financial institution, serving individual consumers, small- and middle-market businesses, institutional investors, firms and governments with various banking, investing, asset management and other financial and risk management services and products. It has a 12.61 P/E ratio.

BAC Company Profile

Bank of America Corporation, incorporated on July 31, 1998, is a bank holding firm (BHC) and a financial holding company. The Firm is a financial institution, serving individual consumers, small- and middle-market businesses, institutional investors, firms and governments with a range of banking, investing, asset management and other financial and risk management services and products. The Company’s divisions include Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, Global Markets, Legacy Assets & Servicing (LAS) and All Other. Through its banking and various nonbank subsidiaries throughout the United States and international markets, the Company provides a range of banking and nonbank financial services and products.

More news for Bank of America Corp (NYSE:BAC) were recently published by: Reuters.com, which released: “Bank of America accused of gouging ex-inmates with card fees” on November 04, 2016. Investorplace.com‘s article titled: “Bank of America Corp (BAC) Stock Will Fight On After the FOMC” and published on November 01, 2016 is yet another important article.

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