April 18, 2017

Bank of America Corporation (NYSE:BAC) reported strong first-quarter results with Revenue $22.2 billion

Bank of America Corporation (NYSE:BAC) reported strong first-quarter results on Tuesday, with the revenue of $22.2 billion versus $21.611 billion expected by Thomson Reuters analysts’ consensus, by beating or meeting Wall Street expectations on almost every single metric, while the bank’s leader cheered improving economic optimism in the country.

Bank of America’s stock rose as much as about 1.5 percent in the premarket but then lost some of the gains after Goldman Sachs reported disappointing earnings. Bank of America Corporation (NYSE:BAC) shares ticked up 2.10% to $22.81 on Monday.

Bank of America Corporation (NYSE:BAC) also said its loans business grew by 6 percent in the first quarter. BAC posted an EPS of 41 cents versus 35 cents expected by Thomson Reuters analysts’ consensus, the net interest income: $11.1 billion versus $11.1 billion expected by StreetAccount analysts’ consensus, the fixed income trading revenue is $2.9 billion versus $2.62 billion expected by StreetAccount analysts’ consensus. The net charge-offs: $934 million versus $964.2 million expected by StreetAccount analysts’ consensus.

Technical Stock Analysis

Shares outstanding are recorded as 10011.94 billion and total shares floated are 9991.01 billion. Current ratio which is the relationship between current assets and current liabilities, indicating the liquidity of a business is calculated as 1.00. Company’s distance from 20 day simple moving average is -2.17% and distance from 50-Day simple moving average is -4.82%.

Best time to invest in stock market is when things are on odd side, and it’s not easy how to pick stocks. By reviewing stock prices from the stock market history of the company and examining its analysts ratings can give an investment picture with updated information of stock which helps investors to make investing decision. Stock has got OUTPERFORM rating from 15 analysts of Thomson Reuters, 7 analysts given HOLD rating to the stock and 1 given UNDERPERFORM rating. Analyst’s mean target price for BAC is $25.45 while analysts mean recommendation is 2.10.

Bank of America Corporation (NYSE:BAC) yearly performance is 65.35% and net profit margin is 31.80%. Annual EPS Growth of past 5 years is 182.40%. The current share price indicates that stock is -11.59% away from its one year high and is moving 91.46% ahead of its 52-week low.

At the movement Automatic Data Processing, Inc. (NASDAQ:ADP) is under coverage by number of analysts. Buy rating has been given by 4 analysts to the company stock whereas no analyst given UNDERPERFORM rating to stock and 13 analysts given HOLD rating. The consensus recommendation by Thomson Reuters analysts is Hold and their mean rating for the stock is 2.60 on scale of 1-5. Analysts mean target price for Automatic Data Processing, Inc. (NASDAQ:ADP) is $100.00 while their mean recommendation is 2.70 (1=Buy, 5=sell).

If we look at stock performance in last active day trading, we see that stock has moved gained 0.59% to end the day at $101.86. The current share price indicate that stock is -3.17% away from its one year high and is moving 23.61% ahead of its 52-week low.

On 17 April 2017, Owens-Illinois, Inc. (NYSE:OI) shares moved to $20.21 after starting the day at $19.95. Number of analysts are covering this stock and currently stock has got OUTPERFORM rating from 1 analyst of Thomson Reuters, 10 analysts given HOLD rating to the stock and 0 given UNDERPERFORM rating. Analyst’s mean target price for OI is $21.75 while analysts mean recommendation is 2.70.

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