Bank of America Corp (BAC) : Capital Advisors Ltd. added new position in Bank of America Corp during the most recent quarter end. The investment management firm now holds 400 shares of Bank of America Corp which is valued at $6,400 , the company said in a statement filed on Oct 14, 2016 with the SEC.
Other Hedge Funds, Including , Btr Capital Management Inc boosted its stake in BAC in the latest quarter, The investment management firm added 5,452 additional shares and now holds a total of 25,272 shares of Bank of America Corp which is valued at $404,352. Bank of America Corp makes up approx 0.09% of Btr Capital Management Inc’s portfolio.Hexavest reduced its stake in BAC by selling 3,402,406 shares or 54.36% in the most recent quarter. The Hedge Fund company now holds 2,856,277 shares of BAC which is valued at $46,014,622. Bank of America Corp makes up approx 0.84% of Hexavest’s portfolio.Centre Asset Management reduced its stake in BAC by selling 3,390 shares or 5.2% in the most recent quarter. The Hedge Fund company now holds 61,780 shares of BAC which is valued at $1,007,014. Bank of America Corp makes up approx 0.18% of Centre Asset Management’s portfolio.Telemus Capital boosted its stake in BAC in the latest quarter, The investment management firm added 1,896 additional shares and now holds a total of 81,314 shares of Bank of America Corp which is valued at $1,309,969. Bank of America Corp makes up approx 0.15% of Telemus Capital’s portfolio.
Bank of America Corp opened for trading at $16.15 and hit $16.23 on the upside on Friday, eventually ending the session at $16, with a gain of 1.07% or 0.17 points. The heightened volatility saw the trading volume jump to 10,88,65,677 shares. Company has a market cap of $163,277 M.
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. Bank of America Corp was Downgraded by Societe Generale to ” Hold” on Sep 13, 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.