Searle buys $2,939,524 stake in Bank of America Corp (BAC)

Bank of America Corp (BAC) : Searle scooped up 700 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 12, 2016. The investment management firm 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 approximately 2.69% of Searle’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 , 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.Exxonmobil Investment Management Inc Tx boosted its stake in BAC in the latest quarter, The investment management firm added 180,167 additional shares and now holds a total of 2,514,039 shares of Bank of America Corp which is valued at $35,196,546. Bank of America Corp makes up approx 0.79% of Exxonmobil Investment Management Inc Tx’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.Chicago Trust Co Na boosted its stake in BAC in the latest quarter, The investment management firm added 32,008 additional shares and now holds a total of 126,139 shares of Bank of America Corp which is valued at $1,636,023. Bank of America Corp makes up approx 0.71% of Chicago Trust Co Na’s portfolio.Needelman Asset Management Inc boosted its stake in BAC in the latest quarter, The investment management firm added 1,635 additional shares and now holds a total of 74,556 shares of Bank of America Corp which is valued at $966,991. Bank of America Corp makes up approx 2.84% of Needelman Asset Management Inc’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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