Sunbelt Securities buys $8.4 Million stake in Bank of America Corp (BAC)

Bank of America Corp (BAC) : Sunbelt Securities scooped up 41,394 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 11, 2016. The investment management firm now holds a total of 602,063 shares of Bank of America Corp which is valued at $8.4 Million.Bank of America Corp makes up approximately 9.84% of Sunbelt Securities’s portfolio.

Other Hedge Funds, Including , Norinchukin Bank The boosted its stake in BAC in the latest quarter, The investment management firm added 37,105 additional shares and now holds a total of 216,279 shares of Bank of America Corp which is valued at $3 Million. Bank of America Corp makes up approx 0.07% of Norinchukin Bank The’s portfolio.Folger Nolan Fleming Douglas Capital Management Inc reduced its stake in BAC by selling 8,900 shares or 18.2% in the most recent quarter. The Hedge Fund company now holds 40,004 shares of BAC which is valued at $555,256. Bank of America Corp makes up approx 0.10% of Folger Nolan Fleming Douglas Capital Management Inc’s portfolio.Marco Investment Management reduced its stake in BAC by selling 7,747 shares or 5.55% in the most recent quarter. The Hedge Fund company now holds 131,930 shares of BAC which is valued at $1.8 Million. Bank of America Corp makes up approx 0.28% of Marco Investment Management’s portfolio.Centre Asset Management reduced its stake in BAC by selling 235,430 shares or 73.01% in the most recent quarter. The Hedge Fund company now holds 87,030 shares of BAC which is valued at $1.2 Million. Bank of America Corp makes up approx 0.22% of Centre Asset Management’s portfolio.

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.

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