Beacon Financial Group buys $640,507 stake in Bank of America Corp (BAC)

Bank of America Corp (BAC) : Beacon Financial Group scooped up 13,509 additional shares in Bank of America Corp during the most recent quarter end , according to a recent disclosure to the SEC on Apr 1, 2016. The investment management firm now holds a total of 47,235 shares of Bank of America Corp which is valued at $640,507.Bank of America Corp makes up approximately 0.14% of Beacon Financial Group’s portfolio.

On the company’s financial health, Bank of America Corp reported $0.28 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jan 19, 2016. Analyst had a consensus of $0.27. The company had revenue of $19800.00 million for the quarter, compared to analysts expectations of $19891.85 million. The company’s revenue was up 105669.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 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 Corp was Upgraded by Sandler O’Neill to ” Buy” on Jan 20, 2016.

Bank of America Corp opened for trading at $12.92 and hit $13.09 on the upside on Monday, eventually ending the session at $12.97, with a gain of 0.70% or 0.09 points. The heightened volatility saw the trading volume jump to 7,94,11,476 shares. Company has a market cap of $133,923 M.

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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