Bank of America Corporation (BAC) Earns Outperform Rating from CIBC

Xavier Trudeau
Juillet 17, 2017

Secor Capital Advisors Lp sold 40,300 shares as Bank Amer Corp (Put) (BAC)'s stock declined 6.00%. The Arete Wealth Advisors Llc holds 570,874 shares with $12.62M value, down from 605,036 last quarter. TD Securities wrote last week that they expect Bank of America to be one of the only big banks to show a year-over-year profit for investment banking advisory services. About 31.41 million shares traded. Minnesota-based Gradient Investments Limited Liability Corporation has invested 0.01% in Bank of America Corp (NYSE:BAC). It has outperformed by 60.61% the S&P500.The move comes after 6 months negative chart setup for the $2.11B company. Dorsey & Whitney Trust Company Limited Liability owns 60,258 shares. Armbruster Capital Management Inc. increased its position in shares of Bank of America Corporation by 10.8% in the first quarter. The firm has a market capitalization of $258.92 billion, a P/E ratio of 15.15 and a beta of 1.27. About 8,903 shares traded. It is down 58.64% since July 17, 2016 and is uptrending. It has underperformed by 3.95% the S&P500.

Analysts await Fabrinet (NYSE:FN) to report earnings on August, 21. The Nippon Life Insurance Company holds 492,693 shares with $10.89 million value, up from 373,575 last quarter. Boston Partners increased its position in shares of Bank of America Corporation by 0.5% in the first quarter. Pacific Global Invest Management reported 1.08% of its portfolio in Bank of America Corp (NYSE:BAC). Lone Pine Capital LLC bought a new stake in shares of Bank of America Corporation during the fourth quarter worth about $478,937,000.

Investors sentiment increased to 1.1 in Q4 2016. This represents a $0.30 annualized dividend and a dividend yield of 1.24%. Stratos Wealth Ptnrs Ltd invested in 110,266 shares or 0.15% of the stock. 122 funds opened positions while 614 raised stakes. Ferguson Wellman Capital Management invested in 0.03% or 29,880 shares. Price Michael F owns 100,000 shares. Stonebridge Capital Management reported 13,550 shares. Chicago Equity Prns Ltd Company reported 12,050 shares. 10,300 are held by Tudor Inv Et Al. Sterling Mgmt Limited Liability Corporation invested in 0.01% or 876 shares. King Luther accumulated 3.55 million shares. Nike Inc (NYSE:NKE) was reduced too. 1,042 are owned by Zurcher Kantonalbank (Zurich Cantonalbank). Grimes Commerce Incorporated invested 0.16% of its portfolio in Procter & Gamble Co (NYSE:PG). Marathon Trading Invest Lc stated it has 445,198 shares. Shares for $2.13M were sold by Sheppard Valarie L.

More notable recent Fabrinet (NYSE:FN) news were published by: Schaeffersresearch.com which released: "Amazon Buzz Sets Off Fabrinet Stock Options Trading" on June 26, 2017, also Fool.com with their article: "Why Fabrinet Stock Jumped Today" published on June 26, 2017, Seekingalpha.com published: "Fabrinet: Off We Go" on June 27, 2017. More interesting news about Fabrinet (NYSE:FN) were released by: Seekingalpha.com and their article: "Fabrinet: Time To Take Profits?" published on June 26, 2017 as well as Nasdaq.com's news article titled: "Fabrinet (FN) Surges: Stock Moves 15.5% Higher" with publication date: June 27, 2017. Finally, Zacks Investment Research upgraded Bank of America Corporation from a hold rating to a buy rating and set a $28.00 price objective on the stock in a research note on Tuesday, March 21st. Therefore 91% are positive. The stock of Action Hotels PLC (LON:AHCG) earned "Buy" rating by Investec on Tuesday, September 8. The stock has "Buy" rating by Jefferies on Wednesday, October 7. (NYSE:AZO) earned "Buy" rating by Gabelli on Friday, April 15. Oppenheimer maintained it with "Outperform" rating and $38 target in Tuesday, August 2 report. Bernstein upgraded the shares of BAC in report on Tuesday, August 25 to "Mkt Perform" rating. Vetr raised shares of Bank of America Corporation from a "sell" rating to a "hold" rating and set a $23.99 price target for the company in a research note on Friday. The firm has "Buy" rating by Deutsche Bank given on Tuesday, August 25. The rating was maintained by B. Riley & Co on Wednesday, March 30 with "Neutral". Its down 0.03, from 0.88 in 2016Q3. It improved, as 62 investors sold BAC shares while 560 reduced holdings. Bank of America Corporation accounts for approximately 1.6% of Oregon Public Employees Retirement Fund's portfolio, making the stock its 4th largest position. Investment Centers Of America accumulated 175,449 shares or 0.33% of the stock.

CIBC reaffirmed their outperform rating on shares of Bank of America Corporation (NYSE:BAC) in a report issued on Tuesday. Washington Tru Comml Bank holds 59,789 shares or 0.3% of its portfolio. The hedge fund run by Kevin D. Eng held 1.11 million shares of the major banks company at the end of 2016Q4, valued at $24.47 million, down from 2.71 million at the end of the previous reported quarter. Iberiabank, a Louisiana-based fund reported 84,929 shares. The stock of Bank of America Corp (NYSE:BAC) earned "Outperform" rating by Macquarie Research on Thursday, February 16. Sirios Lp holds 7.07% or 6.52M shares in its portfolio. Putnam Fl Investment owns 12,629 shares or 0.03% of their U.S. portfolio. Tdam Usa Inc accumulated 229,180 shares. The institutional investor owned 67,900 shares of the financial services provider's stock at the end of the first quarter.

Bank of America Corporation is a bank holding company and a financial holding company. Tennessee-based Barnett And Com has invested 0.01% in Bank of America Corp (NYSE:BAC).

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