Gibraltar Capital Management buys $3,336,969 stake in Bank of America Corp (BAC)

Bank of America Corp (BAC) : Gibraltar Capital Management scooped up 64,330 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 11, 2016. The investment management firm now holds a total of 204,722 shares of Bank of America Corp which is valued at $3,336,969.Bank of America Corp makes up approximately 3.82% of Gibraltar Capital Management’s portfolio.

Other Hedge Funds, Including , Raymond James Trust N.a. boosted its stake in BAC in the latest quarter, The investment management firm added 2,282 additional shares and now holds a total of 221,236 shares of Bank of America Corp which is valued at $3,606,147. Bank of America Corp makes up approx 0.31% of Raymond James Trust N.a.’s portfolio.Exxonmobil Investment Management Inc Tx reduced its stake in BAC by selling 53,238 shares or 2.0% in the most recent quarter. The Hedge Fund company now holds 2,605,650 shares of BAC which is valued at $42,029,135. Bank of America Corp makes up approx 0.88% of Exxonmobil Investment Management Inc Tx’s portfolio.Pure Financial Advisors boosted its stake in BAC in the latest quarter, The investment management firm added 517 additional shares and now holds a total of 11,211 shares of Bank of America Corp which is valued at $180,833. Bank of America Corp makes up approx 0.06% of Pure Financial Advisors’s portfolio.Summit Financial Wealth Advisors reduced its stake in BAC by selling 1,423 shares or 6.7% in the most recent quarter. The Hedge Fund company now holds 19,827 shares of BAC which is valued at $319,413. Bank of America Corp makes up approx 0.14% of Summit Financial Wealth Advisors’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 closed down -0.19 points or -1.17% at $16.11 with 7,73,73,955 shares getting traded on Tuesday. Post opening the session at $16.26, the shares hit an intraday low of $16.025 and an intraday high of $16.33 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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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