Nepsis Capital Management Lowers stake in Bank of America Corp (BAC)

Bank of America Corp (BAC) : Nepsis Capital Management reduced its stake in Bank of America Corp by 12.91% during the most recent quarter end. The investment management company now holds a total of 522,035 shares of Bank of America Corp which is valued at $7,887,949 after selling 77,406 shares in Bank of America Corp , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.Bank of America Corp makes up approximately 4.13% of Nepsis Capital Management’s portfolio.

Bank of America Corp closed down -0.07 points or -0.46% at $15.02 with 11,57,88,999 shares getting traded on Wednesday. Post opening the session at $15.02, the shares hit an intraday low of $14.98 and an intraday high of $15.3 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Other Hedge Funds, Including , Transamerica Financial Advisors reduced its stake in BAC by selling 71,481 shares or 98.91% in the most recent quarter. The Hedge Fund company now holds 786 shares of BAC which is valued at $11,876. Integrated Investment Consultants added BAC to its portfolio by purchasing 3,868 company shares during the most recent quarter which is valued at $54,152. Bank of America Corp makes up approx 0.03% of Integrated Investment Consultants’s portfolio. Waverton Investment Management Ltd sold out all of its stake in BAC during the most recent quarter. The investment firm sold 344,470 shares of BAC which is valued $4,467,776.Ckw Financial Group boosted its stake in BAC in the latest quarter, The investment management firm added 1,300 additional shares and now holds a total of 26,702 shares of Bank of America Corp which is valued at $346,325. Bank of America Corp makes up approx 0.13% of Ckw Financial Group’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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