Credit Capital Investments Lowers stake in Bank of America Corp (BAC)

Bank of America Corp (BAC) : Credit Capital Investments reduced its stake in Bank of America Corp by 9.33% during the most recent quarter end. The investment management company now holds a total of 431,600 shares of Bank of America Corp which is valued at $6 Million after selling 44,400 shares in Bank of America Corp , the firm said in a disclosure report filed with the SEC on May 11, 2016.Bank of America Corp makes up approximately 4.82% of Credit Capital Investments’s portfolio.

Other Hedge Funds, Including , Towle Co added BAC to its portfolio by purchasing 260 company shares during the most recent quarter which is valued at $3,609.Cumberland Partners Ltd reduced its stake in BAC by selling 1,630,299 shares or 64.85% in the most recent quarter. The Hedge Fund company now holds 883,484 shares of BAC which is valued at $12.3 Million. Bank of America Corp makes up approx 1.74% of Cumberland Partners Ltd’s portfolio.Kahn Brothers Group Inc De reduced its stake in BAC by selling 832 shares or 2.09% in the most recent quarter. The Hedge Fund company now holds 38,942 shares of BAC which is valued at $540,515. Bank of America Corp makes up approx 0.10% of Kahn Brothers Group Inc De’s portfolio.Lba Wealth Management boosted its stake in BAC in the latest quarter, The investment management firm added 2,175 additional shares and now holds a total of 31,221 shares of Bank of America Corp which is valued at $440,528. Bank of America Corp makes up approx 0.26% of Lba Wealth Management’s portfolio.Northern Oak Wealth Management Inc boosted its stake in BAC in the latest quarter, The investment management firm added 50,366 additional shares and now holds a total of 351,838 shares of Bank of America Corp which is valued at $5 Million. Bank of America Corp makes up approx 1.13% of Northern Oak Wealth Management Inc’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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