Grassi Investment Management Lowers stake in Bank of America Corp (BAC)

Bank of America Corp (BAC) : Grassi Investment Management reduced its stake in Bank of America Corp by 1.45% during the most recent quarter end. The investment management company now holds a total of 734,668 shares of Bank of America Corp which is valued at $10,285,352 after selling 10,840 shares in Bank of America Corp , the firm said in a disclosure report filed with the SEC on Apr 11, 2016.Bank of America Corp makes up approximately 2.01% of Grassi Investment Management’s portfolio.

Bank of America Corp closed down -0.14 points or -0.99% at $14 with 8,79,58,734 shares getting traded on Friday. Post opening the session at $14.27, the shares hit an intraday low of $13.95 and an intraday high of $14.29 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Other Hedge Funds, Including , Fjarde Ap-fonden Fourth Swedish National Pension Fund boosted its stake in BAC in the latest quarter, The investment management firm added 297,010 additional shares and now holds a total of 2,372,786 shares of Bank of America Corp which is valued at $33,219,004. Bank of America Corp makes up approx 0.76% of Fjarde Ap-fonden Fourth Swedish National Pension Fund’s portfolio.Eagle Asset Management Inc boosted its stake in BAC in the latest quarter, The investment management firm added 2,087 additional shares and now holds a total of 144,314 shares of Bank of America Corp which is valued at $1,871,753. Bank of America Corp makes up approx 0.01% of Eagle Asset Management Inc’s portfolio.Greylin Investment Mangement Inc boosted its stake in BAC in the latest quarter, The investment management firm added 23,215 additional shares and now holds a total of 347,468 shares of Bank of America Corp which is valued at $4,506,660. Bank of America Corp makes up approx 1.06% of Greylin Investment Mangement Inc’s portfolio. Baystate Wealth Management added BAC to its portfolio by purchasing 12,817 company shares during the most recent quarter which is valued at $166,236. Bank of America Corp makes up approx 0.04% of Baystate Wealth Management’s portfolio.Toth Financial Advisory Corp boosted its stake in BAC in the latest quarter, The investment management firm added 50,934 additional shares and now holds a total of 73,599 shares of Bank of America Corp which is valued at $954,579. Bank of America Corp makes up approx 0.31% of Toth Financial Advisory Corp’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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