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BofA Posts Best Profit in 6 Years as Rising Rates Lift Revenue

13 October 2017

Johnson Investment Counsel Inc acquired 41,548 shares as Bank Of America Corporation (BAC)'s stock declined 6.00%. The business's revenue for the quarter was up 7.1% compared to the same quarter a year ago. Capital Management Corp VA boosted its position in Bank of America Corporation by 0.3% in the 2nd quarter.

Average next regular session additional gain: 1.5%. Jefferies Group LLC reissued a buy rating on shares of Bank of America Corporation in a research note on Friday, July 7th. The stock decreased 1.47% or $0.38 during the last trading session, reaching $25.45. Vident Investment Advisory Limited Liability Co owns 0.03% invested in Bank of America Corp (NYSE:BAC) for 13,725 shares. Gateway Advisory LLC now owns 10,053 shares of the financial services provider's stock valued at $244,000 after buying an additional 45 shares during the last quarter. Outstanding shares refer to a company's stock presently held by all its shareholders, counting share blocks held by institutional shareholders and restricted shares owned by the company's officers and insiders.

Uber files appeal against Transport for London
Uber has formally lodged its appeal against Transport for London's decision not to renew its private hire operating license. The app enables users to book cars using their smartphones and is available in more than 40 towns and cities across the UK.

Among 29 analysts covering Bank of America (NYSE:BAC), 19 have Buy rating, 0 Sell and 10 Hold. Stellar Cap Mgmt Lc holds 3.91% of its portfolio in Bank of America Corp (NYSE:BAC) for 221,843 shares. Tracking the stock price in relation to moving averages as well as highs and lows for the year might assist with evaluating future stock performance.

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Turkish tanks roll into northern Syria
The YPG accused Turkey of making threatening moves towards Afrin, the neighbouring region held by the militia. A string of ceasefire deals in recent months has eased the fighting in western Syria.

In other news, CEO Francisco Aristeguieta sold 40,000 shares of the company's stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $68.97, for a total value of $344,850.00. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. After a recent check, it is observed that the insiders for the firm now own 0.13% shares.

After an initial lift from last November's election, Bank of America shares climbed 4.6% in the past month. The stock's 50 day moving average is $24.65 and its 200 day moving average is $23.91.

Aston Martin DB11 Volante unveiled
Like the coupe, the V8 unit sends 503 horsepower and 513 lb-ft of torque to the rear wheels through an eight-speed automatic. With a sticker price of $216,000, United States buyers should expect to see the Volante in showrooms in early to mid 2018.

Bank of America Corporation (NYSE:BAC) last announced its earnings results on Tuesday, July 18th. This buyback authorization authorizes the financial services provider to repurchase up to 8.7% of its shares through open market purchases. Citigroup had a return on equity of 7.32% and a net margin of 18.11%. The business had revenue of $22.80 billion for the quarter, compared to analyst estimates of $21.84 billion. During the same period in the previous year, the firm posted $0.41 earnings per share. The Company's principal business activities include the ownership and operation of self-storage facilities, which offer storage spaces for lease, generally on a month-to-month basis, for personal and business use, ancillary activities, such as merchandise sales and tenant reinsurance to the tenants at its self-storage facilities, as well as the acquisition and development of additional self-storage space. They now have a $27.00 target price on the financial services provider's stock, up from their previous target price of $25.00. Nokota Management Lp bought 3.48 million shares as the company's stock declined 6.00% while stock markets rallied. UBS downgraded Bank of America Corp (NYSE:BAC) rating on Wednesday, January 11. Pennsylvania-based Brick Kyle has invested 0.84% in Bank of America Corp (NYSE:BAC). Its down 0.03, from 1.15 in 2017Q1. Bank of America had 86 analyst reports since July 21, 2015 according to SRatingsIntel.

BofA Posts Best Profit in 6 Years as Rising Rates Lift Revenue