The Bank of New York Mellon Corporation provides financial services and products to institutions, firms, and high net worth individuals in the United States and internationally. The company has market cap of $51.11 billion. It operates through two divisions, Investment Management and Investment Services. It has a 13.64 P/E ratio. The firm offers investment management; trust and custody; foreign exchange; fund administration; global collateral services; securities lending; depositary receipts; corporate trust; global payment/cash management; banking services; and clearing services.
Cambridge Financial Group Inc increased Bank Of America Corp (BAC) stake by 0.75% reported in 2017Q3 SEC filing. Cambridge Financial Group Inc acquired 1,703 shares as Bank Of America Corp (BAC)’s stock declined 6.00%. The Cambridge Financial Group Inc holds 227,989 shares with $5.78B value, up from 226,286 last quarter. Bank Of America Corp now has $298.23 billion valuation. The stock decreased 4.52% or $1.38 during the last trading session, reaching $29.17. About 115.74M shares traded or 58.70% up from the average. Bank of America Corporation (NYSE:BAC) has risen 58.64% since March 24, 2017 and is uptrending. It has outperformed by 41.94% the S&P500.
Cambridge Financial Group Inc decreased Boeing Co (NYSE:BA) stake by 483 shares to 30,693 valued at $7.80B in 2017Q3. It also reduced Nvidia Corp (NASDAQ:NVDA) stake by 13,513 shares and now owns 42,988 shares. Facebook Inc (NASDAQ:FB) was reduced too.
Investors sentiment increased to 1.19 in Q3 2017. Its up 0.15, from 1.04 in 2017Q2. It improved, as 68 investors sold BAC shares while 569 reduced holdings. 117 funds opened positions while 547 raised stakes. 6.91 billion shares or 9.01% more from 6.34 billion shares in 2017Q2 were reported. Egerton (Uk) Llp holds 3.74% in Bank of America Corporation (NYSE:BAC) or 16.51 million shares. Viking Fund Mngmt Ltd Liability Com accumulated 23,000 shares. Natixis has 1.01% invested in Bank of America Corporation (NYSE:BAC). Whittier Of Nevada owns 86,050 shares or 0.2% of their US portfolio. Causeway Capital Mgmt Limited Co has 1.63% invested in Bank of America Corporation (NYSE:BAC). Menlo Advsr Lc, a California-based fund reported 242,105 shares. Ledyard Bancorp has invested 0.08% in Bank of America Corporation (NYSE:BAC). 2.52 million are owned by Sirios Cap Mgmt L P. Monroe National Bank And Mi invested 0.07% in Bank of America Corporation (NYSE:BAC). Icm Asset Management Wa owns 70,967 shares or 2.09% of their US portfolio. Oakbrook Invests Ltd accumulated 431,745 shares or 0.71% of the stock. Shamrock Asset Mgmt Llc holds 0% or 218 shares in its portfolio. Bnp Paribas Asset Mgmt Holding Sa reported 0.66% stake. Cubist Systematic Strategies Limited Liability Corp reported 51,056 shares. Hwg Ltd Partnership, a Texas-based fund reported 4,568 shares.
Among 33 analysts covering Bank of America (NYSE:BAC), 22 have Buy rating, 0 Sell and 11 Hold. Therefore 67% are positive. Bank of America had 107 analyst reports since July 21, 2015 according to SRatingsIntel. Jefferies maintained it with “Buy” rating and $2800 target in Friday, July 7 report. Vetr upgraded Bank of America Corporation (NYSE:BAC) rating on Monday, August 24. Vetr has “Buy” rating and $18.59 target. The firm has “Buy” rating given on Friday, January 19 by Sandler O’Neill. On Monday, October 9 the stock rating was maintained by Citigroup with “Neutral”. The company was upgraded on Tuesday, August 25 by Macquarie Research. The rating was maintained by Jefferies with “Buy” on Friday, August 11. Keefe Bruyette & Woods maintained Bank of America Corporation (NYSE:BAC) on Sunday, August 13 with “Buy” rating. The firm earned “Buy” rating on Tuesday, September 1 by Robert W. Baird. The firm has “Hold” rating given on Wednesday, April 12 by BMO Capital Markets. Wells Fargo maintained the shares of BAC in report on Wednesday, December 20 with “Buy” rating.
The stock decreased 2.48% or $1.29 during the last trading session, reaching $50.73. About 7.55 million shares traded or 53.65% up from the average. The Bank of New York Mellon Corporation (BK) has risen 13.98% since March 24, 2017 and is uptrending. It has underperformed by 2.72% the S&P500.
Analysts await The Bank of New York Mellon Corporation (NYSE:BK) to report earnings on April, 19. They expect $0.96 EPS, up 20.00% or $0.16 from last year’s $0.8 per share. BK’s profit will be $967.25M for 13.21 P/E if the $0.96 EPS becomes a reality. After $0.91 actual EPS reported by The Bank of New York Mellon Corporation for the previous quarter, Wall Street now forecasts 5.49% EPS growth.