Dnb Asset Management As Lowers stake in Bank of America Corp (BAC)

Bank of America Corp (BAC) : Dnb Asset Management As reduced its stake in Bank of America Corp by 0.65% during the most recent quarter end. The investment management company now holds a total of 6,830,199 shares of Bank of America Corp which is valued at $95,622,786 after selling 44,365 shares in Bank of America Corp , the firm said in a disclosure report filed with the SEC on Apr 11, 2016.Bank of America Corp makes up approximately 1.97% of Dnb Asset Management As’s portfolio.

Bank of America Corp closed down -0.14 points or -0.99% at $14 with 8,79,58,734 shares getting traded on Friday. Post opening the session at $14.27, the shares hit an intraday low of $13.95 and an intraday high of $14.29 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Other Hedge Funds, Including , Atlas Browninc. boosted its stake in BAC in the latest quarter, The investment management firm added 5,100 additional shares and now holds a total of 16,642 shares of Bank of America Corp which is valued at $232,988. Bank of America Corp makes up approx 0.10% of Atlas Browninc.’s portfolio.Greylin Investment Mangement Inc boosted its stake in BAC in the latest quarter, The investment management firm added 23,215 additional shares and now holds a total of 347,468 shares of Bank of America Corp which is valued at $4,506,660. Bank of America Corp makes up approx 1.06% of Greylin Investment Mangement Inc’s portfolio.Eqis Capital Management reduced its stake in BAC by selling 23,167 shares or 24.49% in the most recent quarter. The Hedge Fund company now holds 71,415 shares of BAC which is valued at $926,253. Bank of America Corp makes up approx 0.07% of Eqis Capital Management’s portfolio.Community Trust Investment Co boosted its stake in BAC in the latest quarter, The investment management firm added 973,369 additional shares and now holds a total of 1,055,178 shares of Bank of America Corp which is valued at $13,685,659. Bank of America Corp makes up approx 1.77% of Community Trust Investment Co’s portfolio.Berson Corrado Investment Advisors boosted its stake in BAC in the latest quarter, The investment management firm added 7,933 additional shares and now holds a total of 235,422 shares of Bank of America Corp which is valued at $3,053,423. Bank of America Corp makes up approx 1.91% of Berson Corrado Investment Advisors’s portfolio.

On the company’s financial health, Bank of America Corp reported $0.21 EPS for the quarter, based on the information available during the earnings call on Apr 14, 2016. Analyst had a consensus estimate of $0.21. The company had revenue of $19700.00 million for the quarter, compared to analysts expectations of $20317.78 million. The company’s revenue was down -8.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.27 EPS.

Many Wall Street Analysts have commented on Bank of America Corp. Bank of America Corp was Downgraded by Atlantic Equities to ” Neutral” on Mar 1, 2016. Bank of America Corp was Upgraded by Credit Agricole to ” Outperform” on Jan 29, 2016. Bank of America Corp was Upgraded by Sandler O’Neill to ” Buy” on Jan 20, 2016.

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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