Bank Of America Q1 Profit Beats Estimates; Revenue Up 7%

Dollar bill with the word

Royal Bank of Canada reissued a "buy" rating and issued a $26.00 target price on shares of Bank of America Corp in a research note on Tuesday, April 4th.

Global markets (21% of total company revenues), particularly, saw net income almost double sequentially carried by much higher sales and trading revenues and capital market fees. It was not immediately clear if the reported figures were comparable. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the stock.

Stock is now moving with a positive distance from the 200 day simple moving average of approximately 18.4%, and has a solid year to date (YTD) performance of 3.53% which means the stock is constantly adding to its value from the previous fiscal year end price. The stock had a trading volume of 43,966,795 shares. Societe Generale Upgrades the stock to Buy on 1/12/17 by stationing a price target of $31.5. The stock's price moved up its 200-day moving average of $10.65. Fixed income sales and trading revenues - a crucial contributor to the fortunes of Wall Street - surged 29 per cent from an especially tough period a year ago. The Company, through its bank subsidiary, provides a range of community banking services to commercial, small business and retail customers, offering a range of transaction and savings deposit products, treasury management services, brokerage, and secured and unsecured loan products, including revolving credit facilities, letters of credit and similar financial guarantees, and asset based financing.

Many Analysts provided their foresight on Revenue Estimates of Chesapeake Energy Corporation where they believe that the company has the potential to earn average revenue of $1 for the current quarter. Glassman Wealth Services now owns 14,295 shares of the financial services provider's stock valued at $316,000 after buying an additional 100 shares during the period. The shares were purchased at an average cost of $19.93 per share, with a total value of $59,790.00. Blackrock Institutional Trust Company Na invested in 1.53 million shares or 0.01% of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. On Monday, April 11 the stock rating was initiated by SunTrust with "Neutral". Investors purchased 158,284 call options on the stock.

11/07/2016 - Seacoast Banking Corporation of Florida was downgraded to " by analysts at FIG Partners. Lansdowne Partners UK LLP now owns 30,503,227 shares of the financial services provider's stock worth $674,141,000 after buying an additional 30,423,227 shares in the last quarter. Current price level places the company's stock about -13.41% from the 52-week high and 87.52% away from the 52-week low. The last close places the company's stock about $2 off its 52 week high of $53.79 and $12.11 above the 52 week low of $39.68. Bank of America Corp (NYSE:BAC) has risen 40.86% since September 8, 2016 and is uptrending. On a YTD basis, shares are still off their early March highs, which might entice some to buy BAC on the recent dip. Finally, Mendon Capital Advisors Corp increased its position in Seacoast Banking Corporation of Florida by 39.4% in the second quarter.

Susquehanna Group Llp holds 0% of its portfolio in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) for 86,282 shares.

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