Bank of America Corp (BAC) : Independent Portfolio Consultants scooped up 9,204 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 13, 2016. The investment management firm now holds a total of 164,680 shares of Bank of America Corp which is valued at $2,305,520.Bank of America Corp makes up approximately 0.64% of Independent Portfolio Consultants’s portfolio.
Bank of America Corp opened for trading at $13.85 and hit $14.24 on the upside on Monday, eventually ending the session at $14.17, with a gain of 1.21% or 0.17 points. The heightened volatility saw the trading volume jump to 8,19,98,236 shares. Company has a market cap of $146,314 M.
Other Hedge Funds, Including , North American Management Corp reduced its stake in BAC by selling 2,300 shares or 9.98% in the most recent quarter. The Hedge Fund company now holds 20,752 shares of BAC which is valued at $290,528. Bank of America Corp makes up approx 0.05% of North American Management Corp’s portfolio.Franklin Street Advisors Inc Nc reduced its stake in BAC by selling 3,000 shares or 5.07% in the most recent quarter. The Hedge Fund company now holds 56,214 shares of BAC which is valued at $786,996. Bank of America Corp makes up approx 0.15% of Franklin Street Advisors Inc Nc’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.Searle boosted its stake in BAC in the latest quarter, The investment management firm added 700 additional shares and now holds a total of 209,966 shares of Bank of America Corp which is valued at $2,939,524. Bank of America Corp makes up approx 2.69% of Searle’s portfolio.Burns J W Co Incny reduced its stake in BAC by selling 399 shares or 3.56% in the most recent quarter. The Hedge Fund company now holds 10,819 shares of BAC which is valued at $140,322. Bank of America Corp makes up approx 0.04% of Burns J W Co Incny’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.