Bank of America Corp (BAC) : Blackrock Advisors scooped up 31,859,390 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 May 10, 2016. The investment management firm now holds a total of 80,581,513 shares of Bank of America Corp which is valued at $1,118,471,400.Bank of America Corp makes up approximately 1.21% of Blackrock Advisors’s portfolio.
Other Hedge Funds, Including , Gideon Capital Advisors sold out all of its stake in BAC during the most recent quarter. The investment firm sold 209,179 shares of BAC which is valued $2,903,405.Mengis Capital Management reduced its stake in BAC by selling 7,467 shares or 7.55% in the most recent quarter. The Hedge Fund company now holds 91,375 shares of BAC which is valued at $1,268,285. Bank of America Corp makes up approx 1.19% of Mengis Capital Management’s portfolio.Bruderman Asset Management reduced its stake in BAC by selling 1,408 shares or 73.6% in the most recent quarter. The Hedge Fund company now holds 505 shares of BAC which is valued at $7,009.
Bank of America Corp opened for trading at $13.82 and hit $14.02 on the upside on Monday, eventually ending the session at $13.93, with a gain of 0.36% or 0.05 points. The heightened volatility saw the trading volume jump to 5,78,48,601 shares. Company has a market cap of $143,088 M.
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 Keefe Bruyette to ” Mkt Perform” on May 16, 2016. Bank of America Corp was Downgraded by Atlantic Equities to ” Neutral” on Mar 1, 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.