Shikiar Asset Management Inc buys $9,485,303 stake in BANK OF AMERICA CORP COM (BAC)

BANK OF AMERICA CORP COM (BAC) : Shikiar Asset Management Inc scooped up 50,800 additional shares in BANK OF AMERICA CORP COM during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 21, 2016. The investment management firm now holds a total of 627,750 shares of BANK OF AMERICA CORP COM which is valued at $9,485,303.BANK OF AMERICA CORP COM makes up approximately 4.31% of Shikiar Asset Management Inc’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 , Valley National Advisers Inc boosted its stake in BAC in the latest quarter, The investment management firm added 4,345 additional shares and now holds a total of 10,315 shares of BANK OF AMERICA CORP COM which is valued at $155,860. BANK OF AMERICA CORP COM makes up approx 0.08% of Valley National Advisers Inc’s portfolio.New York State Teachers Retirement System boosted its stake in BAC in the latest quarter, The investment management firm added 35,851 additional shares and now holds a total of 20,232,432 shares of BANK OF AMERICA CORP COM which is valued at $305,712,048. BANK OF AMERICA CORP COM makes up approx 0.80% of New York State Teachers Retirement System’s portfolio.Gillespie Robinson Grimm Inc reduced its stake in BAC by selling 2,200 shares or 6.09% in the most recent quarter. The Hedge Fund company now holds 33,951 shares of BAC which is valued at $513,000. BANK OF AMERICA CORP COM makes up approx 0.08% of Gillespie Robinson Grimm Inc’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 COM which is valued at $966,991. BANK OF AMERICA CORP COM makes up approx 2.84% of Needelman Asset Management Inc’s portfolio.Ckw Financial Group boosted its stake in BAC in the latest quarter, The investment management firm added 1,300 additional shares and now holds a total of 26,702 shares of BANK OF AMERICA CORP COM which is valued at $346,325. BANK OF AMERICA CORP COM makes up approx 0.13% of Ckw Financial Group’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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