Hellman Jordan Management Co Inc Lowers stake in Bank of America Corp (BAC)

Bank of America Corp (BAC) : Hellman Jordan Management Co Inc reduced its stake in Bank of America Corp by 89.26% during the most recent quarter end. The investment management company now holds a total of 75,405 shares of Bank of America Corp which is valued at $1,139,370 after selling 626,680 shares in Bank of America Corp , the firm said in a disclosure report filed with the SEC on Apr 18, 2016.Bank of America Corp makes up approximately 2.76% of Hellman Jordan Management Co Inc’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 , National Investment Services Inc Wi boosted its stake in BAC in the latest quarter, The investment management firm added 80,997 additional shares and now holds a total of 126,874 shares of Bank of America Corp which is valued at $1,917,066. Bank of America Corp makes up approx 2.15% of National Investment Services Inc Wi’s portfolio.Kanaly Trust Co reduced its stake in BAC by selling 964 shares or 13.36% in the most recent quarter. The Hedge Fund company now holds 6,250 shares of BAC which is valued at $87,500. Bank of America Corp makes up approx 0.02% of Kanaly Trust Co’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.Gofen Glossberg Il reduced its stake in BAC by selling 3,161 shares or 9.57% in the most recent quarter. The Hedge Fund company now holds 29,871 shares of BAC which is valued at $418,194. Bank of America Corp makes up approx 0.02% of Gofen Glossberg Il’s portfolio.Wunderlich Securities boosted its stake in BAC in the latest quarter, The investment management firm added 11,401 additional shares and now holds a total of 28,247 shares of Bank of America Corp which is valued at $395,458. Bank of America Corp makes up approx 0.59% of Wunderlich Securities’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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