Seabridge Investment Advisors Lowers stake in Bank of America Corp (BAC)

Bank of America Corp (BAC) : Seabridge Investment Advisors reduced its stake in Bank of America Corp by 28.25% during the most recent quarter end. The investment management company now holds a total of 611,032 shares of Bank of America Corp which is valued at $9,232,694 after selling 240,578 shares in Bank of America Corp , the firm said in a disclosure report filed with the SEC on Apr 20, 2016.Bank of America Corp makes up approximately 2.08% of Seabridge Investment Advisors’s portfolio.

Bank of America Corp opened for trading at $14.865 and hit $15.14 on the upside on Friday, eventually ending the session at $15.11, with a gain of 1.41% or 0.21 points. The heightened volatility saw the trading volume jump to 8,34,56,613 shares. Company has a market cap of $156,020 M.

Other Hedge Funds, Including , Raymond James Trust N.a. boosted its stake in BAC in the latest quarter, The investment management firm added 23,543 additional shares and now holds a total of 208,363 shares of Bank of America Corp which is valued at $3,148,365. Bank of America Corp makes up approx 0.28% of Raymond James Trust N.a.’s portfolio.Carl Domino Inc reduced its stake in BAC by selling 169 shares or 0.32% in the most recent quarter. The Hedge Fund company now holds 51,939 shares of BAC which is valued at $784,798. Bank of America Corp makes up approx 0.70% of Carl Domino Inc’s portfolio.Yhb Investment Advisors reduced its stake in BAC by selling 45,466 shares or 39.42% in the most recent quarter. The Hedge Fund company now holds 69,880 shares of BAC which is valued at $1,055,887. Bank of America Corp makes up approx 0.28% of Yhb Investment Advisors’s portfolio.Integral Derivatives boosted its stake in BAC in the latest quarter, The investment management firm added 58,402 additional shares and now holds a total of 373,175 shares of Bank of America Corp which is valued at $5,224,450. Bank of America Corp makes up approx 2.13% of Integral Derivatives’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 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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