Fisher Asset Management buys $651,183,401 stake in Bank of America Corp (BAC)

Bank of America Corp (BAC) : Fisher Asset Management scooped up 3,925 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 Apr 18, 2016. The investment management firm now holds a total of 43,096,188 shares of Bank of America Corp which is valued at $651,183,401.Bank of America Corp makes up approximately 1.27% of Fisher Asset Management’s portfolio.

Bank of America Corp opened for trading at $14.865 and hit $15.14 on the upside on Friday, eventually ending the session at $15.11, with a gain of 1.41% or 0.21 points. The heightened volatility saw the trading volume jump to 8,34,56,613 shares. Company has a market cap of $156,020 M.

Other Hedge Funds, Including , Gateway Investment Advisers reduced its stake in BAC by selling 194,820 shares or 2.53% in the most recent quarter. The Hedge Fund company now holds 7,517,755 shares of BAC which is valued at $113,593,278. Bank of America Corp makes up approx 0.97% of Gateway Investment Advisers’s portfolio.Rathbone Brothers Plc boosted its stake in BAC in the latest quarter, The investment management firm added 250 additional shares and now holds a total of 265,153 shares of Bank of America Corp which is valued at $3,439,034. Bank of America Corp makes up approx 0.21% of Rathbone Brothers Plc’s portfolio.Kessler Investment Group boosted its stake in BAC in the latest quarter, The investment management firm added 12,936 additional shares and now holds a total of 123,030 shares of Bank of America Corp which is valued at $1,595,699. Bank of America Corp makes up approx 2.41% of Kessler Investment Group’s portfolio.

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 Corp was Upgraded by Sandler O’Neill to ” Buy” on Jan 20, 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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