New Century Advisors Lowers stake in BANK OF AMERICA CORP COM (BAC)

BANK OF AMERICA CORP COM (BAC) : New Century Advisors reduced its stake in BANK OF AMERICA CORP COM by 57.99% during the most recent quarter end. The investment management company now holds a total of 115,100 shares of BANK OF AMERICA CORP COM which is valued at $1,739,161 after selling 158,900 shares in BANK OF AMERICA CORP COM , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.BANK OF AMERICA CORP COM makes up approximately 2.07% of New Century Advisors’s portfolio.

BANK OF AMERICA CORP COM closed down -0.07 points or -0.46% at $15.02 with 11,57,88,999 shares getting traded on Wednesday. Post opening the session at $15.02, the shares hit an intraday low of $14.98 and an intraday high of $15.3 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Other Hedge Funds, Including , Narwhal Capital Management boosted its stake in BAC in the latest quarter, The investment management firm added 17,025 additional shares and now holds a total of 127,700 shares of BANK OF AMERICA CORP COM which is valued at $1,929,547. BANK OF AMERICA CORP COM makes up approx 0.62% of Narwhal Capital Management’s portfolio.Acadian Asset Management reduced its stake in BAC by selling 61,689 shares or 25.23% in the most recent quarter. The Hedge Fund company now holds 182,805 shares of BAC which is valued at $2,559,270. BANK OF AMERICA CORP COM makes up approx 0.01% of Acadian Asset Management’s portfolio.Capital Investment Advisors boosted its stake in BAC in the latest quarter, The investment management firm added 10,823 additional shares and now holds a total of 347,464 shares of BANK OF AMERICA CORP COM which is valued at $4,864,496. BANK OF AMERICA CORP COM makes up approx 0.48% of Capital Investment Advisors’s portfolio.Edge Wealth Management reduced its stake in BAC by selling 419,485 shares or 73.24% in the most recent quarter. The Hedge Fund company now holds 153,249 shares of BAC which is valued at $1,987,640. BANK OF AMERICA CORP COM makes up approx 0.91% of Edge Wealth Management’s portfolio.

On the company’s financial health, BANK OF AMERICA CORP COM 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 COM. BANK OF AMERICA CORP COM was Downgraded by Atlantic Equities to ” Neutral” on Mar 1, 2016. BANK OF AMERICA CORP COM was Upgraded by Credit Agricole to ” Outperform” on Jan 29, 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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