Shares of Bank of America Corporation (BAC) Sees Large Outflow of Money

Bank of America Corporation (BAC) : The value of composite uptick trades was $245.54 million, whereas, the value of composite downtick trades was $344.78 million. The uptick to downtick ratio stood at 0.71 with a negative money flow of ($99.24) Million during Tuesdays trading session. The block trades money flow was negative ($58.75 million).The uptick to the downtick ratio of 0.52 in block trades signals that the large investors have utilized the rise in the stock to sell.The uptick transaction value stood at $62.6 million. The transaction of the trades on downticks amounted to $121.35 million, which confirms investors selling on the strength of price. Bank of America Corporation (BAC) gained 35 cents at $16.19, an increase of 2.21% over the previous days close.


Also, Equity analysts at the Brokerage firm Citigroup maintains its rating on Bank of America Corporation (NYSE:BAC). The rating major has initiated the coverage with buy rating on the shares. The Analysts at Citigroup raises the price target from $16 per share to $17 per share. The rating by the firm was issued on July 19, 2016.

Shares of Bank of America Corporation rose by 5.47% in the last five trading days and 12.98% for the last 4 weeks. Bank of America Corporation is up 8.95% in the last 3-month period. Year-to-Date the stock performance stands at -3.11%.

Bank of America Corporation (NYSE:BAC): During Tuesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $15.87 and $15.80 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $16.23. The buying momentum continued till the end and the stock did not give up its gains. It closed at $16.19, notching a gain of 2.21% for the day. The total traded volume was 121,280,568 . The stock had closed at $15.84 on the previous day.

In a related news, Woods Thomas D, director of Bank Of America Corp /De/ had purchased 25,000 shares on August 2, 2016 in a transaction. The price per share was $14.13 and the total amount of the disclosed transaction was $353,250.The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. This information is based on open market transaction at the market prices.

Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers, small- and middle-market businesses, institutional investors, corporations and Governments with a range of banking, investing, asset management and other financial and risk management products and services. Through its banking and various nonbank subsidiaries, it provides a range of banking and nonbank financial services and products. It operates in five segments: Consumer & Business Banking, which offers a range of credit, banking and investment products and services to consumers and businesses; Consumer Real Estate Services, which provides a line of consumer real estate products and services; Global Wealth & Investment Management, which provides wealth management solutions; Global Banking, which provides a range of lending-related products and services, and Global Markets, which offers sales and trading services.

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