Rothschild Asset Management Inc buys $62.6 Million stake in Bank of America Corp (BAC)

Bank of America Corp (BAC) : Rothschild Asset Management Inc scooped up 851,041 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 13, 2016. The investment management firm now holds a total of 4,511,958 shares of Bank of America Corp which is valued at $62.6 Million.Bank of America Corp makes up approximately 1.19% of Rothschild Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Riverhead Capital Management boosted its stake in BAC in the latest quarter, The investment management firm added 621,725 additional shares and now holds a total of 1,443,823 shares of Bank of America Corp which is valued at $20 Million. Bank of America Corp makes up approx 0.29% of Riverhead Capital Management’s portfolio.Tower Bridge Advisors reduced its stake in BAC by selling 1,310 shares or 9.21% in the most recent quarter. The Hedge Fund company now holds 12,917 shares of BAC which is valued at $179,288. Bank of America Corp makes up approx 0.02% of Tower Bridge Advisors’s portfolio.Palisades Hudson Asset Management boosted its stake in BAC in the latest quarter, The investment management firm added 2,793 additional shares and now holds a total of 20,262 shares of Bank of America Corp which is valued at $285,897. Bank of America Corp makes up approx 0.22% of Palisades Hudson Asset Management’s portfolio.Nippon Life Insurance Co reduced its stake in BAC by selling 13,162 shares or 3.18% in the most recent quarter. The Hedge Fund company now holds 400,098 shares of BAC which is valued at $5.6 Million. Bank of America Corp makes up approx 0.14% of Nippon Life Insurance Co’s portfolio.Schulhoff Co Inc reduced its stake in BAC by selling 508 shares or 0.96% in the most recent quarter. The Hedge Fund company now holds 52,359 shares of BAC which is valued at $762,347. Bank of America Corp makes up approx 0.50% of Schulhoff Co Inc’s portfolio.

Bank of America Corp opened for trading at $14.83 and hit $15.15 on the upside on Wednesday, eventually ending the session at $14.92, with a gain of 1.63% or 0.24 points. The heightened volatility saw the trading volume jump to 12,35,55,643 shares. Company has a market cap of $153,257 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.

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