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Bank of America beat earnings forecasts, as major investor Spartan Planning reduced its stake.
Spartan Planning & Wealth Management sold off 50.5% of its Bank of America shares, while other firms like Ables Iannone Moore & Associates and Stolper Co slightly increased theirs.
Bank of America beat earnings expectations with $0.90 EPS, outpacing forecasts of $0.80, and reported $27.37 billion in revenue.
The stock has a "Moderate Buy" rating and a $47.50 price target, currently trading around $44.14.
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Bank of America superó las previsiones de ganancias, ya que el principal inversionista Spartan Planning redujo su participación.