Gibraltar Capital Management adds Bank of America Corp (BAC) to its portfolio

Bank of America Corp (BAC) : Gibraltar Capital Management added new position in Bank of America Corp during the most recent quarter end. The investment management firm now holds 140,392 shares of Bank of America Corp which is valued at $2,032,876 , the company said in a statement filed on Aug 1, 2016 with the SEC.Bank of America Corp makes up approximately 2.37% of Gibraltar Capital Management’s portfolio.

Other Hedge Funds, Including , Hudock Capital Group boosted its stake in BAC in the latest quarter, The investment management firm added 305 additional shares and now holds a total of 12,703 shares of Bank of America Corp which is valued at $183,939. Bank of America Corp makes up approx 0.10% of Hudock Capital Group’s portfolio.Paradigm Financial Advisors boosted its stake in BAC in the latest quarter, The investment management firm added 14,576 additional shares and now holds a total of 335,646 shares of Bank of America Corp which is valued at $4,910,501. Bank of America Corp makes up approx 2.89% of Paradigm Financial Advisors’s portfolio.Mountain Pacific Investment Advisers Incid reduced its stake in BAC by selling 394 shares or 3.16% in the most recent quarter. The Hedge Fund company now holds 12,079 shares of BAC which is valued at $173,696. Bank of America Corp makes up approx 0.02% of Mountain Pacific Investment Advisers Incid’s portfolio.Sadoff Investment Management boosted its stake in BAC in the latest quarter, The investment management firm added 29,100 additional shares and now holds a total of 2,019,043 shares of Bank of America Corp which is valued at $29,033,838. Bank of America Corp makes up approx 3.29% of Sadoff Investment Management’s portfolio.Adams Asset Advisors boosted its stake in BAC in the latest quarter, The investment management firm added 32,520 additional shares and now holds a total of 119,005 shares of Bank of America Corp which is valued at $1,713,672. Bank of America Corp makes up approx 0.29% of Adams Asset Advisors’s portfolio.

Bank of America Corp (BAC) witnessed a volatile trading activity on Thursday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $14.48 and reached the intraday high at $14.54. The bulls started the profit booking and pushed the shares to intraday low of $14.36. The trading session was marked by a volume range of 4,61,76,646 shares exchanging hands. The 52-week high of the shares is $18.09 and the 52-week low is $10.99. The market cap of the company stands at $147,765 M and there are 10,20,47,98,800 shares in public circulation.

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 Corp was Downgraded by Keefe Bruyette to ” Mkt Perform” on May 16, 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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