Montgomery Investment Management Inc buys $3,971,219 stake in Bank of America Corp (BAC)

Bank of America Corp (BAC) : Montgomery Investment Management Inc scooped up 137,171 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 Aug 10, 2016. The investment management firm now holds a total of 266,346 shares of Bank of America Corp which is valued at $3,971,219.Bank of America Corp makes up approximately 1.89% of Montgomery Investment Management Inc’s portfolio.

Other Hedge Funds, Including , Advantus Capital Management Inc boosted its stake in BAC in the latest quarter, The investment management firm added 4,050 additional shares and now holds a total of 999,550 shares of Bank of America Corp which is valued at $14,903,291. Bank of America Corp makes up approx 0.42% of Advantus Capital Management Inc’s portfolio.Mark Sheptoff Financial Planning reduced its stake in BAC by selling 34,720 shares or 78.89% in the most recent quarter. The Hedge Fund company now holds 9,290 shares of BAC which is valued at $138,235. Bank of America Corp makes up approx 0.10% of Mark Sheptoff Financial Planning’s portfolio.Signature Financial Management reduced its stake in BAC by selling 187,600 shares or 94.37% in the most recent quarter. The Hedge Fund company now holds 11,192 shares of BAC which is valued at $162,060. Bank of America Corp makes up approx 0.08% of Signature Financial Management’s portfolio. Gibraltar Capital Management added BAC to its portfolio by purchasing 140,392 company shares during the most recent quarter which is valued at $2,032,876. Bank of America Corp makes up approx 2.37% of Gibraltar Capital Management’s portfolio. Parasol Investment Management sold out all of its stake in BAC during the most recent quarter. The investment firm sold 1,300 shares of BAC which is valued $18,343.

Bank of America Corp opened for trading at $15.13 and hit $15.25 on the upside on Friday, eventually ending the session at $15.22, with a gain of 0.40% or 0.06 points. The heightened volatility saw the trading volume jump to 5,98,34,808 shares. Company has a market cap of $155,317 M.

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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *