Amalgamated Bank buys $5.2 Million stake in Bank of America Corp (BAC)

Bank of America Corp (BAC) : Amalgamated Bank scooped up 99,156 additional shares in Bank of America Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 374,490 shares of Bank of America Corp which is valued at $5.2 Million.Bank of America Corp makes up approximately 0.51% of Amalgamated Bank’s portfolio.

Other Hedge Funds, Including , Jupiter Asset Management Ltd reduced its stake in BAC by selling 33,285 shares or 1.46% in the most recent quarter. The Hedge Fund company now holds 2,251,439 shares of BAC which is valued at $31.2 Million. Bank of America Corp makes up approx 1.32% of Jupiter Asset Management Ltd’s portfolio. Gyroscope Capital Management Group added BAC to its portfolio by purchasing 26,416 company shares during the most recent quarter which is valued at $366,654. Bank of America Corp makes up approx 0.28% of Gyroscope Capital Management Group’s portfolio.Ironwood Financial reduced its stake in BAC by selling 4,776 shares or 85.65% in the most recent quarter. The Hedge Fund company now holds 800 shares of BAC which is valued at $11,288. Bank of America Corp makes up approx 0.01% of Ironwood Financial’s portfolio.Centre Asset Management reduced its stake in BAC by selling 235,430 shares or 73.01% in the most recent quarter. The Hedge Fund company now holds 87,030 shares of BAC which is valued at $1.2 Million. Bank of America Corp makes up approx 0.22% of Centre Asset Management’s portfolio.Jennison Associates reduced its stake in BAC by selling 672,022 shares or 4.67% in the most recent quarter. The Hedge Fund company now holds 13,723,857 shares of BAC which is valued at $193.6 Million. Bank of America Corp makes up approx 0.21% of Jennison Associates’s portfolio.

Bank of America Corp opened for trading at $13.82 and hit $14.02 on the upside on Monday, eventually ending the session at $13.93, with a gain of 0.36% or 0.05 points. The heightened volatility saw the trading volume jump to 5,78,48,601 shares. Company has a market cap of $143,088 M.

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 Keefe Bruyette to ” Mkt Perform” on May 16, 2016. Bank of America Corp was Downgraded by Atlantic Equities to ” Neutral” on Mar 1, 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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