Bank of America Corp (BAC) : Geduld E E reduced its stake in Bank of America Corp by 0.66% during the most recent quarter end. The investment management company now holds a total of 2,491,048 shares of Bank of America Corp which is valued at $34,575,746 after selling 16,500 shares in Bank of America Corp , the firm said in a disclosure report filed with the SEC on May 9, 2016.Bank of America Corp makes up approximately 52.86% of Geduld E E’s portfolio.
Other Hedge Funds, Including , Mendon Capital Advisors Corp boosted its stake in BAC in the latest quarter, The investment management firm added 100,000 additional shares and now holds a total of 600,600 shares of Bank of America Corp which is valued at $8,336,328. Bank of America Corp makes up approx 1.55% of Mendon Capital Advisors Corp’s portfolio. Timber Hill added BAC to its portfolio by purchasing 345,734 company shares during the most recent quarter which is valued at $4,878,307. Bank of America Corp makes up approx 0.38% of Timber Hill’s portfolio.Raab Moskowitz Asset Management boosted its stake in BAC in the latest quarter, The investment management firm added 2,104 additional shares and now holds a total of 32,605 shares of Bank of America Corp which is valued at $460,057. Bank of America Corp makes up approx 0.27% of Raab Moskowitz Asset Management’s portfolio. Orca Investment Management sold out all of its stake in BAC during the most recent quarter. The investment firm sold 85,789 shares of BAC which is valued $1,249,088.Louisiana State Employees Retirement System reduced its stake in BAC by selling 38,700 shares or 5.31% in the most recent quarter. The Hedge Fund company now holds 690,600 shares of BAC which is valued at $10,055,136. Bank of America Corp makes up approx 0.52% of Louisiana State Employees Retirement System’s portfolio.
Bank of America Corp closed down -0.26 points or -1.84% at $13.88 with 8,61,93,936 shares getting traded on Friday. Post opening the session at $14.15, the shares hit an intraday low of $13.87 and an intraday high of $14.37 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
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.