Country Club Trust Company N.a. Lowers stake in Bank of America Corp (BAC)

Bank of America Corp (BAC) : Country Club Trust Company N.a. reduced its stake in Bank of America Corp by 6.83% during the most recent quarter end. The investment management company now holds a total of 23,636 shares of Bank of America Corp which is valued at $378,176 after selling 1,734 shares in Bank of America Corp , the firm said in a disclosure report filed with the SEC on Oct 14, 2016.Bank of America Corp makes up approximately 0.05% of Country Club Trust Company N.a.’s portfolio.

Other Hedge Funds, Including , Peddock Capital Advisors boosted its stake in BAC in the latest quarter, The investment management firm added 2,045 additional shares and now holds a total of 52,852 shares of Bank of America Corp which is valued at $845,632. Bank of America Corp makes up approx 0.56% of Peddock Capital Advisors’s portfolio.Highland Capital Management reduced its stake in BAC by selling 74,172 shares or 10.22% in the most recent quarter. The Hedge Fund company now holds 651,331 shares of BAC which is valued at $10,310,570. Bank of America Corp makes up approx 0.88% of Highland Capital Management’s portfolio.British Columbia Investment Management Corp reduced its stake in BAC by selling 795,891 shares or 16.69% in the most recent quarter. The Hedge Fund company now holds 3,973,346 shares of BAC which is valued at $64,010,604. Bank of America Corp makes up approx 0.65% of British Columbia Investment Management Corp’s portfolio.Chevy Chase Trust Holdings reduced its stake in BAC by selling 258,209 shares or 2.76% in the most recent quarter. The Hedge Fund company now holds 9,107,298 shares of BAC which is valued at $146,718,571. Bank of America Corp makes up approx 0.81% of Chevy Chase Trust Holdings’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.

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