Westbourne Investment Advisors buys $3,713,310 stake in Bank of America Corp (BAC)

Bank of America Corp (BAC) : Westbourne Investment Advisors scooped up 26,635 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 Apr 25, 2016. The investment management firm now holds a total of 255,035 shares of Bank of America Corp which is valued at $3,713,310.Bank of America Corp makes up approximately 3.55% of Westbourne Investment Advisors’s portfolio.

Bank of America Corp opened for trading at $14.58 and hit $14.78 on the upside on Monday, eventually ending the session at $14.77, with a gain of 1.44% or 0.21 points. The heightened volatility saw the trading volume jump to 6,88,82,814 shares. Company has a market cap of $152,510 M.

Other Hedge Funds, Including , Verus Financial Partners boosted its stake in BAC in the latest quarter, The investment management firm added 17 additional shares and now holds a total of 13,036 shares of Bank of America Corp which is valued at $189,804. Bank of America Corp makes up approx 0.09% of Verus Financial Partners’s portfolio.Breton Hill Capital Ltd. boosted its stake in BAC in the latest quarter, The investment management firm added 15,993 additional shares and now holds a total of 118,958 shares of Bank of America Corp which is valued at $1,665,412. Bank of America Corp makes up approx 0.61% of Breton Hill Capital Ltd.’s portfolio.Integral Derivatives boosted its stake in BAC in the latest quarter, The investment management firm added 58,402 additional shares and now holds a total of 373,175 shares of Bank of America Corp which is valued at $5,224,450. Bank of America Corp makes up approx 2.13% of Integral Derivatives’s portfolio.

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 Corp was Upgraded by Credit Agricole to ” Outperform” on Jan 29, 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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