Springhouse Capital Management Lp buys $5,511,366 stake in Bank of America Corp (BAC)

Bank of America Corp (BAC) : Springhouse Capital Management Lp scooped up 195,000 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 3, 2016. The investment management firm now holds a total of 390,600 shares of Bank of America Corp which is valued at $5,511,366.Bank of America Corp makes up approximately 2.87% of Springhouse Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Partnervest Advisory Services boosted its stake in BAC in the latest quarter, The investment management firm added 1,409 additional shares and now holds a total of 39,604 shares of Bank of America Corp which is valued at $558,812. Bank of America Corp makes up approx 0.31% of Partnervest Advisory Services’s portfolio.Evercore Wealth Management reduced its stake in BAC by selling 3,695 shares or 10.07% in the most recent quarter. The Hedge Fund company now holds 33,009 shares of BAC which is valued at $465,757. Bank of America Corp makes up approx 0.02% of Evercore Wealth Management’s portfolio. Tradelink Capital sold out all of its stake in BAC during the most recent quarter. The investment firm sold 15,714 shares of BAC which is valued $221,725.Burt Wealth Advisors boosted its stake in BAC in the latest quarter, The investment management firm added 1,166 additional shares and now holds a total of 7,521 shares of Bank of America Corp which is valued at $109,506. Bank of America Corp makes up approx 0.10% of Burt Wealth Advisors’s portfolio.Carl Domino Inc reduced its stake in BAC by selling 169 shares or 0.32% in the most recent quarter. The Hedge Fund company now holds 51,939 shares of BAC which is valued at $784,798. Bank of America Corp makes up approx 0.70% of Carl Domino Inc’s portfolio.

Bank of America Corp opened for trading at $14.08 and hit $14.33 on the upside on Tuesday, eventually ending the session at $14.3, with a gain of 2.22% or 0.31 points. The heightened volatility saw the trading volume jump to 5,98,70,530 shares. Company has a market cap of $146,888 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 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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