Bank of America Corp (BAC) : Duff Phelps Investment Management Co reduced its stake in Bank of America Corp by 2.53% during the most recent quarter end. The investment management company now holds a total of 130,735 shares of Bank of America Corp which is valued at $2,091,760 after selling 3,400 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 0.03% of Duff Phelps Investment Management Co’s portfolio.
Other Hedge Funds, Including , Atria Investments boosted its stake in BAC in the latest quarter, The investment management firm added 14,660 additional shares and now holds a total of 51,298 shares of Bank of America Corp which is valued at $826,411. Bank of America Corp makes up approx 0.08% of Atria Investments’s portfolio.Fox Run Management L.l.c. boosted its stake in BAC in the latest quarter, The investment management firm added 13,100 additional shares and now holds a total of 32,900 shares of Bank of America Corp which is valued at $530,019. Bank of America Corp makes up approx 0.32% of Fox Run Management L.l.c.’s portfolio.Community Trust Investment Co reduced its stake in BAC by selling 8,051 shares or 0.74% in the most recent quarter. The Hedge Fund company now holds 1,081,007 shares of BAC which is valued at $17,620,414. Bank of America Corp makes up approx 2.24% of Community Trust Investment Co’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.