Manufacturers Life Insurance Company The Lowers stake in Bank of America Corp (BAC)

Bank of America Corp (BAC) : Manufacturers Life Insurance Company The reduced its stake in Bank of America Corp by 2.31% during the most recent quarter end. The investment management company now holds a total of 55,834,947 shares of Bank of America Corp which is valued at $1,061,980,692 after selling 1,317,429 shares in Bank of America Corp , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Bank of America Corp makes up approximately 1.59% of Manufacturers Life Insurance Company The’s portfolio.

Other Hedge Funds, Including , Nuveen Asset Management boosted its stake in BAC in the latest quarter, The investment management firm added 327,521 additional shares and now holds a total of 5,261,820 shares of Bank of America Corp which is valued at $105,657,346. Bank of America Corp makes up approx 0.64% of Nuveen Asset Management’s portfolio.Tradewinds Capital Management boosted its stake in BAC in the latest quarter, The investment management firm added 1 additional shares and now holds a total of 12,854 shares of Bank of America Corp which is valued at $218,647. Bank of America Corp makes up approx 0.16% of Tradewinds Capital Management’s portfolio.Sentry Investment Management boosted its stake in BAC in the latest quarter, The investment management firm added 24,053 additional shares and now holds a total of 836,408 shares of Bank of America Corp which is valued at $13,842,552. Bank of America Corp makes up approx 0.63% of Sentry Investment Management’s portfolio.

Bank of America Corp closed down -0.08 points or -0.40% at $20 with 12,06,20,238 shares getting traded on Monday. Post opening the session at $20.06, the shares hit an intraday low of $19.87 and an intraday high of $20.14 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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. Company shares were Downgraded by Robert W. Baird on Nov 16, 2016 to ” Neutral”, Firm has raised the Price Target to $ 18 from a previous price target of $17 .Bank of America Corp was Downgraded by Guggenheim to ” Neutral” on Nov 15, 2016. 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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