Baystate Wealth Management Exits Position in Bank of America Corp (BAC)

Bank of America Corp (BAC) : Baystate Wealth Management has sold out all of its stake in Bank of America Corp during the most recent quarter, according to the disclosure filed by the company on Jul 1, 2016 with the SEC. The investment management company has sold out 12,817 shares of Bank of America Corp which is valued at $167,903.

Other Hedge Funds, Including , Toth Financial Advisory Corp reduced its stake in BAC by selling 4,899 shares or 6.66% in the most recent quarter. The Hedge Fund company now holds 68,700 shares of BAC which is valued at $899,970. Bank of America Corp makes up approx 0.27% of Toth Financial Advisory Corp’s portfolio.

Bank of America Corp closed down -0.17 points or -1.28% at $13.1 with 8,88,88,071 shares getting traded on Friday. Post opening the session at $13.19, the shares hit an intraday low of $13.02 and an intraday high of $13.27 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 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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