Bank of America Corp (BAC) : Moore Capital Management Lp added new position in Bank of America Corp during the most recent quarter end. The investment management firm now holds 5,000,000 shares of Bank of America Corp which is valued at $74,550,000 , the company said in a statement filed on Aug 15, 2016 with the SEC.Bank of America Corp makes up approximately 3.57% of Moore Capital Management Lp’s portfolio.
Other Hedge Funds, Including , Sather Financial Group Inc boosted its stake in BAC in the latest quarter, The investment management firm added 25,032 additional shares and now holds a total of 469,594 shares of Bank of America Corp which is valued at $7,001,647. Bank of America Corp makes up approx 2.65% of Sather Financial Group Inc’s portfolio.Rwc Asset Management Llp boosted its stake in BAC in the latest quarter, The investment management firm added 28,970 additional shares and now holds a total of 117,165 shares of Bank of America Corp which is valued at $1,746,930. Bank of America Corp makes up approx 0.05% of Rwc Asset Management Llp’s portfolio. Oliver Luxxe Assets added BAC to its portfolio by purchasing 16,038 company shares during the most recent quarter which is valued at $239,127. Bank of America Corp makes up approx 0.20% of Oliver Luxxe Assets’s portfolio.Motco boosted its stake in BAC in the latest quarter, The investment management firm added 6 additional shares and now holds a total of 26,500 shares of Bank of America Corp which is valued at $361,990. Bank of America Corp makes up approx 0.14% of Motco’s portfolio.
Bank of America Corp closed down -0.16 points or -0.99% at $15.98 with 12,88,12,599 shares getting traded on Thursday. Post opening the session at $16.15, the shares hit an intraday low of $15.75 and an intraday high of $16.15 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
On the company’s financial health, Bank of America Corp reported $0.36 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 18, 2016. Analyst had a consensus of $0.33. The company had revenue of $20600.00 million for the quarter, compared to analysts expectations of $20518.78 million. The company’s revenue was down -7.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.45 EPS.
Many Wall Street Analysts have commented on Bank of America Corp. Berenberg Initiated Bank of America Corp on Jul 13, 2016 to “Buy”, Price Target of the shares are set at $15.Bank of America Corp was Downgraded by Raymond James to ” Mkt Perform” on Jul 7, 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.