Proffitt Goodson Inc buys $1,439,152 stake in Bank of America Corp (BAC)

Bank of America Corp (BAC) : Proffitt Goodson Inc scooped up 83,870 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 19, 2016. The investment management firm now holds a total of 95,245 shares of Bank of America Corp which is valued at $1,439,152.Bank of America Corp makes up approximately 0.80% of Proffitt Goodson 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 , Firstmerit Bank N A Trustee reduced its stake in BAC by selling 1,845 shares or 11.98% in the most recent quarter. The Hedge Fund company now holds 13,550 shares of BAC which is valued at $204,741. Bank of America Corp makes up approx 0.02% of Firstmerit Bank N A Trustee’s portfolio.Anderson Hoagland Co reduced its stake in BAC by selling 7,325 shares or 1.97% in the most recent quarter. The Hedge Fund company now holds 363,772 shares of BAC which is valued at $5,496,595. Bank of America Corp makes up approx 3.45% of Anderson Hoagland Co’s portfolio.Capstone Asset Management Co reduced its stake in BAC by selling 53,431 shares or 6.52% in the most recent quarter. The Hedge Fund company now holds 766,039 shares of BAC which is valued at $10,724,546. Bank of America Corp makes up approx 0.31% of Capstone Asset Management Co’s portfolio.River Mercantile Asset Management Llp reduced its stake in BAC by selling 37,500 shares or 13.39% in the most recent quarter. The Hedge Fund company now holds 242,543 shares of BAC which is valued at $3,145,783. Bank of America Corp makes up approx 2.06% of River Mercantile Asset Management Llp’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 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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