Could Bank of America Corp Rise Even More? The Stock Had Bullish Options Activity

 Could Bank of America Corp Rise Even More? The Stock Had Bullish Options Activity

In today’s session Bank of America Corp (BAC) registered an unusually high (2,080) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the January, 2019 call, expecting serious BAC increase. With 2,080 contracts traded and 624 open interest for the Jan, 19 contract, it seems this is a quite bullish bet. The option with symbol: BAC190118C00037000 closed last at: $0.3 or 11.8% down. About 17.15M shares traded hands. Bank of America Corp (NYSE:BAC) has risen 39.44% since April 25, 2016 and is uptrending. It has outperformed by 33.42% the S&P500.

Analysts await Bank of America Corp (NYSE:BAC) to report earnings on January, 13 before the open. They expect $0.38 EPS, up 35.71% or $0.10 from last year’s $0.28 per share. BAC’s profit will be $3.90 billion for 13.61 P/E if the $0.38 EPS becomes a reality. After $0.41 actual EPS reported by Bank of America Corp for the previous quarter, Wall Street now forecasts -7.32% negative EPS growth.

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. $21 is the highest target while $15 is the lowest. The $17.89 average target is -13.53% below today’s ($20.69) stock price. Bank of America has been the topic of 47 analyst reports since July 21, 2015 according to StockzIntelligence Inc. JP Morgan maintained Bank of America Corp (NYSE:BAC) rating on Thursday, April 7. JP Morgan has “Overweight” rating and $16 price target. The firm earned “Neutral” rating on Tuesday, November 15 by Guggenheim. Vetr downgraded the shares of BAC in a report on Tuesday, August 11 to “Buy” rating. The rating was upgraded by Sandler O’Neill on Wednesday, January 20 to “Buy”. Credit Agricole upgraded Bank of America Corp (NYSE:BAC) on Friday, January 29 to “Outperform” rating. As per Tuesday, August 25, the company rating was upgraded by Bernstein. The stock of Bank of America Corp (NYSE:BAC) earned “Buy” rating by Berenberg on Wednesday, July 13. As per Tuesday, August 25, the company rating was maintained by Deutsche Bank. Oppenheimer maintained the stock with “Outperform” rating in Saturday, September 5 report. On Tuesday, September 1 the stock rating was upgraded by Bernstein to “Buy”.

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 Q2 2016. 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.
The California-based Diligent Investors Ltd has invested 0.37% in Bank of America Corp (NYSE:BAC). Hgk Asset owns 715,510 shares or 1.42% of their US portfolio. Livforsakringsbolaget Skandia Omsesidigt has 1.21M shares for 0.71% of their US portfolio. Fukoku Mutual Life Insur Com last reported 48,600 shares in the company. Moreover, Pcj Invest Counsel has 0.04% invested in Bank of America Corp (NYSE:BAC) for 50,000 shares. Colony Group Incorporated Limited Co has 14,330 shares for 0.02% of their US portfolio. Southeast Asset Incorporated holds 0.3% or 67,826 shares in its portfolio. Millennium Mgmt Limited Liability Company, a New York-based fund reported 1.76M shares. Columbus Hill Cap Mgmt Ltd Partnership accumulated 2.94% or 2.97 million shares. Acadian Asset Mngmt Ltd Liability Corporation last reported 128,489 shares in the company. Henderson Public Limited Co has 1.26 million shares for 0.14% of their US portfolio. Freestone Hldg Limited Liability last reported 69,271 shares in the company. Oskie Cap Mgmt Limited Liability Company has invested 2.6% of its portfolio in Bank of America Corp (NYSE:BAC). Burns J W & Comm Inc New York holds 0.04% of its portfolio in Bank of America Corp (NYSE:BAC) for 10,613 shares. Wellington Shields Cap Mngmt Ltd Limited Liability Company has 0.22% invested in the company for 96,029 shares.

Insider Transactions: Since August 2, 2016, the stock had 2 buys, and 1 insider sale for $11.52 billion net activity. On Monday, August 15 the insider YNOFACE Holdings Inc sold $11.52 billion. 25,000 shares were bought by WHITE MICHAEL D, worth $503,500 on Monday, November 21. 25,000 Bank of America Corp (NYSE:BAC) shares with value of $353,250 were bought by Woods Thomas D.

Bank of America Corporation is a bank holding and financial holding company. The company has a market cap of $212.18 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 15.35 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 notable recent Bank of America Corp (NYSE:BAC) news were published by: Investorplace.com which released: “Wednesday’s Vital Data: Bank of America Corp (BAC), Apple Inc. (AAPL) and AT&T …” on November 23, 2016, also Investorplace.com with their article: “Bank of America Corp (BAC) Stock: Is the Trump Boost Over?” published on November 17, 2016, Investorplace.com published: “Bank of America Corp (BAC) Stock Is the Best Bet in the Sector” on November 22, 2016. More interesting news about Bank of America Corp (NYSE:BAC) were released by: Investorplace.com and their article: “Bank of America Corp (BAC) Stock Is STILL Cheap, Somehow” published on November 11, 2016 as well as Wsj.com‘s news article titled: “Justice Department ‘Hustle’ Case Against Bank of America Dies” with publication date: November 22, 2016.

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