David R Rahn & Associates Lowered Its Bank Amer (BAC) Position as Share Price Declined; Iberiabank Has Increased Citigroup (C) Holding by $330,912; Share Price Rose

February 25, 2018 - By Adrian Erickson

Iberiabank Corp increased its stake in Citigroup Inc (C) by 127.63% based on its latest 2017Q3 regulatory filing with the SEC. Iberiabank Corp bought 4,596 shares as the company’s stock rose 1.55% with the market. The institutional investor held 8,197 shares of the major banks company at the end of 2017Q3, valued at $593,000, up from 3,601 at the end of the previous reported quarter. Iberiabank Corp who had been investing in Citigroup Inc for a number of months, seems to be bullish on the $198.08 billion market cap company. The stock increased 1.06% or $0.81 during the last trading session, reaching $77.08. About 12.48 million shares traded. Citigroup Inc. (NYSE:C) has risen 35.60% since February 25, 2017 and is uptrending. It has outperformed by 18.90% the S&P500.

David R Rahn & Associates Inc decreased its stake in Bank Amer Corp (BAC) by 48.6% based on its latest 2017Q3 regulatory filing with the SEC. David R Rahn & Associates Inc sold 55,469 shares as the company’s stock declined 6.00% while stock markets rallied. The institutional investor held 58,672 shares of the major banks company at the end of 2017Q3, valued at $1.49 million, down from 114,141 at the end of the previous reported quarter. David R Rahn & Associates Inc who had been investing in Bank Amer Corp for a number of months, seems to be less bullish one the $329.50 billion market cap company. The stock increased 1.07% or $0.34 during the last trading session, reaching $32.03. About 53.63 million shares traded. Bank of America Corporation (NYSE:BAC) has risen 58.64% since February 25, 2017 and is uptrending. It has outperformed by 41.94% the S&P500.

Among 40 analysts covering Citigroup Inc. (NYSE:C), 19 have Buy rating, 3 Sell and 18 Hold. Therefore 48% are positive. Citigroup Inc. had 116 analyst reports since July 21, 2015 according to SRatingsIntel. Wood downgraded Citigroup Inc. (NYSE:C) on Monday, April 18 to “Market Perform” rating. BMO Capital Markets maintained Citigroup Inc. (NYSE:C) rating on Thursday, June 1. BMO Capital Markets has “Buy” rating and $64 target. The rating was initiated by Raymond James with “Hold” on Tuesday, October 31. The firm earned “Buy” rating on Friday, September 23 by CLSA. As per Tuesday, June 6, the company rating was maintained by Jefferies. On Wednesday, December 20 the stock rating was maintained by Wells Fargo with “Buy”. Societe Generale upgraded the shares of C in report on Tuesday, September 12 to “Hold” rating. The firm earned “Buy” rating on Monday, September 28 by Jefferies. As per Wednesday, August 12, the company rating was maintained by Deutsche Bank. The firm earned “Hold” rating on Monday, November 28 by Jefferies.

Investors sentiment increased to 1.35 in 2017 Q3. Its up 0.25, from 1.1 in 2017Q2. It increased, as 56 investors sold C shares while 400 reduced holdings. 125 funds opened positions while 492 raised stakes. 2.04 billion shares or 0.42% more from 2.03 billion shares in 2017Q2 were reported. Amica Mutual Insurance Communications has 1.28% invested in Citigroup Inc. (NYSE:C) for 196,787 shares. 37,888 are owned by Hodges Cap Management Inc. D E Shaw & Company reported 728,528 shares or 0.08% of all its holdings. Parametric Portfolio Associate Limited Liability Corp has invested 0.64% of its portfolio in Citigroup Inc. (NYSE:C). Blue Fin Incorporated invested in 13,286 shares. Ny State Teachers Retirement holds 0.86% or 4.76M shares. Royal Savings Bank Of Canada accumulated 8.65M shares or 0.3% of the stock. Confluence Wealth Lc has 0.25% invested in Citigroup Inc. (NYSE:C) for 6,896 shares. Regent Ltd Liability Company holds 24,820 shares or 0.61% of its portfolio. Budros Ruhlin Roe has 0.1% invested in Citigroup Inc. (NYSE:C) for 4,705 shares. Golub Grp Lc holds 4.8% of its portfolio in Citigroup Inc. (NYSE:C) for 710,874 shares. Cantab Cap Llp holds 0.26% of its portfolio in Citigroup Inc. (NYSE:C) for 24,467 shares. Ferguson Wellman Mngmt invested 1.1% of its portfolio in Citigroup Inc. (NYSE:C). Beech Hill Advisors reported 72,526 shares. Hilton Mgmt Ltd invested in 0.04% or 3,500 shares.

Investors sentiment decreased to 1.04 in 2017 Q3. Its down 0.08, from 1.12 in 2017Q2. It worsened, 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. Centre Asset Management Ltd Liability Com, a New York-based fund reported 281,330 shares. Washington-based Palouse Cap Management has invested 0.6% in Bank of America Corporation (NYSE:BAC). Jbf Inc invested in 0.43% or 150,000 shares. Gibraltar Capital Management invested 4.86% of its portfolio in Bank of America Corporation (NYSE:BAC). Ajo LP has 21.77 million shares. Icon Advisers Inc has 897,690 shares. Saturna Cap Corp has 8,067 shares for 0.01% of their portfolio. Wg Shaheen & Dba Whitney & Company reported 28,983 shares stake. The New York-based Bluefin Trading has invested 5.12% in Bank of America Corporation (NYSE:BAC). Forte Limited Adv holds 15,303 shares. 6.83 million were reported by Value Advisers Limited. 666.87M are held by Blackrock Inc. Geode Mgmt Limited Com holds 0.95% or 101.68M shares. Wagner Bowman Corp invested 0.28% in Bank of America Corporation (NYSE:BAC). Private Asset Management reported 3.35% in Bank of America Corporation (NYSE:BAC).

Analysts await Bank of America Corporation (NYSE:BAC) to report earnings on April, 17. They expect $0.59 EPS, up 43.90% or $0.18 from last year’s $0.41 per share. BAC’s profit will be $6.07 billion for 13.57 P/E if the $0.59 EPS becomes a reality. After $0.47 actual EPS reported by Bank of America Corporation for the previous quarter, Wall Street now forecasts 25.53% EPS growth.

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 106 analyst reports since July 21, 2015 according to SRatingsIntel. The stock has “Buy” rating by Jefferies on Monday, October 10. The firm has “Overweight” rating given on Wednesday, November 1 by JP Morgan. The company was upgraded on Wednesday, December 21 by Atlantic Securities. The stock of Bank of America Corporation (NYSE:BAC) earned “Hold” rating by Berenberg on Monday, April 24. The stock has “Hold” rating by BMO Capital Markets on Friday, October 13. The firm has “Buy” rating by KBW given on Tuesday, September 1. RBC Capital Markets maintained the shares of BAC in report on Tuesday, July 18 with “Buy” rating. As per Tuesday, September 13, the company rating was downgraded by Societe Generale. On Monday, May 16 the stock rating was downgraded by Wood to “Market Perform”. The rating was maintained by BMO Capital Markets with “Hold” on Friday, October 6.

David R Rahn & Associates Inc, which manages about $207.97M and $144.49 million US Long portfolio, upped its stake in Rydex Etf Trust (RYF) by 46,388 shares to 119,918 shares, valued at $4.95M in 2017Q3, according to the filing. It also increased its holding in Proshares Tr (UYG) by 8,182 shares in the quarter, for a total of 15,615 shares, and has risen its stake in Schwab Strategic Tr (SCHX).

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