After Today’s Bullish Options Activity, Is Bank of America Corp’s Near-Term Analysis Positive?

 After Today's Bullish Options Activity, Is Bank of America Corp's Near Term Analysis Positive?

In today’s session Bank of America Corp (BAC) registered an unusually high (62,249) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the December, 2016 call, expecting serious BAC increase. With 62,249 contracts traded and 2259704 open interest for the Dec, 16 contract, it seems this is a quite bullish bet. The option with symbol: BAC161216C00017000 closed last at: $2.78 or 14.5% down. About 29.22 million shares traded hands. Bank of America Corp (NYSE:BAC) has risen 41.71% since April 18, 2016 and is uptrending. It has outperformed by 37.28% the S&P500.

Bank of America Corp (NYSE:BAC) Ratings Coverage

Out of 23 analysts covering Bank of America (NYSE:BAC), 12 rate it a “Buy”, 0 “Sell”, while 11 “Hold”. This means 52% are positive. Bank of America has been the topic of 47 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of Bank of America Corp (NYSE:BAC) has “Neutral” rating given on Wednesday, November 16 by Robert W. Baird. The rating was maintained by Jefferies with “Buy” on Wednesday, October 7. On Friday, September 23 the stock rating was maintained by CLSA with “Outperform”. The company was upgraded on Tuesday, September 8 by Nomura. The rating was maintained by Jefferies on Tuesday, July 21 with “Buy”. Wood downgraded Bank of America Corp (NYSE:BAC) rating on Monday, May 16. Wood has “Market Perform” rating and $16 price target. The company was maintained on Monday, October 10 by Jefferies. Vetr upgraded Bank of America Corp (NYSE:BAC) rating on Monday, August 24. Vetr has “Buy” rating and $18.59 price target. KBW upgraded Bank of America Corp (NYSE:BAC) rating on Monday, August 24. KBW has “Outperform” rating and $20 price target. The stock of Bank of America Corp (NYSE:BAC) has “Buy” rating given on Tuesday, August 11 by Vetr.

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 increased to 1.01 in 2016 Q2. Its up 0.11, from 0.9 in 2016Q1. The ratio increased, 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.
Td Asset Mngmt reported 6.89 million shares or 0.17% of all its holdings. The Australia-based Amp has invested 0.4% in Bank of America Corp (NYSE:BAC). Milestone Grp Incorporated accumulated 250 shares or 0.05% of the stock. Verus Prtnrs Incorporated last reported 12,564 shares in the company. Jump Trading Ltd Limited Liability Company reported 160,071 shares or 0.09% of all its holdings. Icm Asset Mgmt Wa has 114,466 shares for 2.22% of their US portfolio. Jacobs Levy Equity Incorporated reported 19,990 shares or 0.01% of all its holdings. The Connecticut-based General Electric has invested 0.92% in Bank of America Corp (NYSE:BAC). Midwest Investment Management Lc last reported 0.17% of its portfolio in the stock. Dekabank Deutsche Girozentrale holds 3.20 million shares or 0.48% of its portfolio. Verity Asset holds 50,576 shares or 0.66% of its portfolio. Wellington Group Limited Liability Partnership has 0.56% invested in the company for 161.88M shares. Asset Advsr Corporation last reported 6,601 shares in the company. Moreover, Sterneck Cap Mgmt Limited Liability has 0.46% invested in Bank of America Corp (NYSE:BAC) for 52,394 shares. Investors Capital Advisory has 213,214 shares for 0.54% of their US portfolio.

Insider Transactions: Since August 2, 2016, the stock had 1 insider purchase, and 1 sale for $11.52 billion net activity. Shares for $11.52 billion were sold by YNOFACE Holdings Inc on Monday, August 15. Woods Thomas D also bought $353,250 worth of Bank of America Corp (NYSE:BAC) on Tuesday, August 2.

Bank of America Corporation is a bank holding and financial holding company. The company has a market cap of $202.10 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 14.84 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 important recent Bank of America Corp (NYSE:BAC) news were published by: Wsj.com which released: “Bank of America Trading Benefits From Trump’s Election Surprise” on November 15, 2016, also Investorplace.com published article titled: “Why Bank of America Corp (BAC) Stock Is the Hottest Ticket in Town”, Investorplace.com published: “Monday’s Vital Data: Bank of America Corp (BAC), Facebook Inc (FB) and Nvidia …” on November 14, 2016. More interesting news about Bank of America Corp (NYSE:BAC) was released by: Investorplace.com and their article: “Bank of America Corp (BAC) Stock Is STILL Cheap, Somehow” with publication date: November 11, 2016.

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