Advisory Services Network Lowers stake in Bank of America Corp (BAC)

Bank of America Corp (BAC) : Advisory Services Network reduced its stake in Bank of America Corp by 10.99% during the most recent quarter end. The investment management company now holds a total of 76,406 shares of Bank of America Corp which is valued at $1,154,495 after selling 9,435 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 0.31% of Advisory Services Network’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 , St Germain D J Co Inc reduced its stake in BAC by selling 80 shares or 0.61% in the most recent quarter. The Hedge Fund company now holds 13,063 shares of BAC which is valued at $197,382. Bank of America Corp makes up approx 0.03% of St Germain D J Co Inc’s portfolio.Asset Advisors Corp reduced its stake in BAC by selling 508 shares or 7.14% in the most recent quarter. The Hedge Fund company now holds 6,602 shares of BAC which is valued at $99,756. Bank of America Corp makes up approx 0.02% of Asset Advisors Corp’s portfolio. Oakwood Capital Managementca sold out all of its stake in BAC during the most recent quarter. The investment firm sold 346,689 shares of BAC which is valued $4,853,646.

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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