Gemmer Asset Management buys $229,952 stake in Bank of America Corp (BAC)

Bank of America Corp (BAC) : Gemmer Asset Management scooped up 296 additional shares in Bank of America Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 17, 2016. The investment management firm now holds a total of 14,372 shares of Bank of America Corp which is valued at $229,952.Bank of America Corp makes up approximately 0.12% of Gemmer Asset Management’s portfolio.

Other Hedge Funds, Including , Howe Rusling Inc boosted its stake in BAC in the latest quarter, The investment management firm added 225 additional shares and now holds a total of 2,577 shares of Bank of America Corp which is valued at $41,232. Bank of America Corp makes up approx 0.01% of Howe Rusling Inc’s portfolio.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.Fjarde Ap-fonden Fourth Swedish National Pension Fund boosted its stake in BAC in the latest quarter, The investment management firm added 51,304 additional shares and now holds a total of 2,433,788 shares of Bank of America Corp which is valued at $38,940,608. Bank of America Corp makes up approx 0.87% of Fjarde Ap-fonden Fourth Swedish National Pension Fund’s portfolio.Johanson Financial Advisors reduced its stake in BAC by selling 7,350 shares or 29.16% in the most recent quarter. The Hedge Fund company now holds 17,860 shares of BAC which is valued at $285,760. Bank of America Corp makes up approx 0.31% of Johanson Financial Advisors’s portfolio. Cohen Capital Management sold out all of its stake in BAC during the most recent quarter. The investment firm sold 21,668 shares of BAC which is valued $343,004.

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 $0.41 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Oct 17, 2016. Analyst had a consensus of $0.34. The company had revenue of $21635.00 million for the quarter, compared to analysts expectations of $21038.91 million. The company’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.37 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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