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BAC

Bank of America

$30.06

0.4 (1.35%)

15:40
07/20/18
07/20
15:40
07/20/18
15:40

Biggest option block of the day is in Bank of America

Biggest option block of the day is in Bank of America. The stock up 41c to $30.08 and one player liquidates 87.5K Jul 29.5 calls at 65c. 107K trade total against 123K open interest and trade history shows notable opening activity at that strike on 7/6 when a buyer paid 9c for 70K (rolling out of Jul 6th 28.5 calls with shares near $28). Rather than roll the position, the investor seems content closing the ITM calls and monetizing the hefty profit. Nearly 90K Jul 30 puts and 80K Jul 30 calls also traded in the name, as shares sit 8c above the 30 strike in the final hour. Jul 29 calls, Jul 27th 30 calls, Aug 30 calls, and Aug 30 puts are busy as well. Total volume running well above normal due to the expiration with nearly 400K calls and 157K puts changing hands - expiring July contracts account for almost two-thirds of the option flow in BAC today.

BAC Bank of America
$30.06

0.4 (1.35%)

04/03/18
BMOC
04/03/18
NO CHANGE
Target $34
BMOC
Market Perform
Bank of America pullback provides a buying opportunity, says BMO Capital
BMO Capital analyst James Fotheringham says that the recent near-10% pullback in the Bank of America stock price provides investors with a buying opportunity. The analyst contends that the bank's stock trades much more closely in line with short term interest rates rather than the 10-year and believes that its net interest margins will prove to be "insensitive" to lower yields on the benchmark as well as higher LIBOR-OIS spreads. Fotheringham keeps his $34 price target and Market Perform rating on Bank of America, adding that its current two-year-forward P/E valuation multiple is close to its long-term historical average.
04/17/18
BMOC
04/17/18
NO CHANGE
Target $34
BMOC
Market Perform
Bank of America is the best of the 'big four' U.S. banks, says BMO Capital
BMO Capital analyst James Fotheringham kept his Market Perform rating and $34 price target on Bank of America (BAC) after its in-line Q1 earnings but raised his FY18 EPS view to $2.62 from $2.59 and FY19 view to $3.18 from $3.12. Fotheringham says than in contrast, he lowered earnings forecasts for JPMorgan (JPM), Wells Fargo (WFC), and Citigroup (C) because of higher costs and lower revenues, but Bank of America's better than expected net interest income rise justifies his view of the bank as the "best of the bunch". The analyst also notes the bank's more favorable valuation trading at a below-average two-year-forward P/E multiple despite his forecast of double the core earnings growth rate of Bank of America's peers.
07/09/18
GSCO
07/09/18
NO CHANGE
GSCO
Bank of America, Morgan Stanley top ideas into Q2 earnings season, says Goldman Sachs
Goldman Sachs analyst Richard Ramsden expects Bank of America (BAC) and Morgan Stanley (MS) to beat consensus estimates in Q2. The analyst argues that both appear best positioned, while he sees risk for U.S. Bancorp (USB) and JPMorgan (JPM). Ramsden highlights Bank of America given the material valuation dislocation that looks to support the stock over time. Additionally, the analyst expects an expense and NII beat for Morgan Stanley.
07/17/18
BARD
07/17/18
NO CHANGE
Target $30
BARD
Neutral
Baird would be buyers of Bank of America on weakness
Baird analyst David George said he would remain a buyer of Bank of America shares on any weakness, stating that its operating leverage was impressive in Q2 and should continue along with solid execution. George maintained his Neutral rating and $30 price target on Bank of America shares.

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