Frontfour Capital Group adds Bank of America Corp (BAC) to its portfolio

Bank of America Corp (BAC) : Frontfour Capital Group added new position in Bank of America Corp during the most recent quarter end. The investment management firm now holds 339,250 shares of Bank of America Corp which is valued at $5,058,218 , the company said in a statement filed on Aug 15, 2016 with the SEC.Bank of America Corp makes up approximately 2.09% of Frontfour Capital Group’s portfolio.

Other Hedge Funds, Including , Silvercrest Asset Management Group reduced its stake in BAC by selling 6,768 shares or 2.46% in the most recent quarter. The Hedge Fund company now holds 267,885 shares of BAC which is valued at $3,994,165. Bank of America Corp makes up approx 0.05% of Silvercrest Asset Management Group’s portfolio. Hrt Financial sold out all of its stake in BAC during the most recent quarter. The investment firm sold 54,917 shares of BAC which is valued $818,812.Feltz Wealth Plan reduced its stake in BAC by selling 11,743 shares or 32.76% in the most recent quarter. The Hedge Fund company now holds 24,103 shares of BAC which is valued at $358,653. Bank of America Corp makes up approx 0.02% of Feltz Wealth Plan’s portfolio.Pillar Pacific Capital Management boosted its stake in BAC in the latest quarter, The investment management firm added 10,170 additional shares and now holds a total of 455,952 shares of Bank of America Corp which is valued at $6,602,185. Bank of America Corp makes up approx 1.06% of Pillar Pacific Capital Management’s portfolio.Pineno Levin Ford Asset Management reduced its stake in BAC by selling 1,696 shares or 6.33% in the most recent quarter. The Hedge Fund company now holds 25,107 shares of BAC which is valued at $361,039. Bank of America Corp makes up approx 0.18% of Pineno Levin Ford Asset Management’s portfolio.

Bank of America Corp closed down -0.08 points or -0.51% at $15.7 with 63,310,328 shares getting traded on Wednesday. Post opening the session at $15.72, the shares hit an intraday low of $15.65 and an intraday high of $15.85 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Bank of America Corp reported $0.36 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 18, 2016. Analyst had a consensus of $0.33. The company had revenue of $20600.00 million for the quarter, compared to analysts expectations of $20518.78 million. The company’s revenue was down -7.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.45 EPS.

Many Wall Street Analysts have commented on Bank of America Corp. Berenberg Initiated Bank of America Corp on Jul 13, 2016 to “Buy”, Price Target of the shares are set at $15.Bank of America Corp was Downgraded by Raymond James to ” Mkt Perform” on Jul 7, 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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