Jolley Asset Management buys $4,286,032 stake in Bank of America Corp (BAC)

Bank of America Corp (BAC) : Jolley Asset Management scooped up 4,640 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 267,877 shares of Bank of America Corp which is valued at $4,286,032.Bank of America Corp makes up approximately 3.53% of Jolley Asset Management’s portfolio.

Other Hedge Funds, Including , Blb&b Advisors boosted its stake in BAC in the latest quarter, The investment management firm added 754 additional shares and now holds a total of 97,503 shares of Bank of America Corp which is valued at $1,560,048. Bank of America Corp makes up approx 0.29% of Blb&b Advisors’s portfolio.Legal General Group Plc boosted its stake in BAC in the latest quarter, The investment management firm added 378,806 additional shares and now holds a total of 50,208,053 shares of Bank of America Corp which is valued at $808,851,734. Bank of America Corp makes up approx 0.83% of Legal General Group Plc’s portfolio.Gibraltar Capital Management boosted its stake in BAC in the latest quarter, The investment management firm added 64,330 additional shares and 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 approx 3.82% of Gibraltar Capital Management’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.Eqis Capital Management reduced its stake in BAC by selling 11,007 shares or 16.69% in the most recent quarter. The Hedge Fund company now holds 54,956 shares of BAC which is valued at $885,341. Bank of America Corp makes up approx 0.06% of Eqis Capital Management’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 $0.41 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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