Searle adds Bank of America Corp (BAC) to its portfolio

Bank of America Corp (BAC) : Searle added new position in Bank of America Corp during the most recent quarter end. The investment management firm now holds 209,966 shares of Bank of America Corp which is valued at $3,422,446 , the company said in a statement filed on Oct 11, 2016 with the SEC.Bank of America Corp makes up approximately 2.97% of Searle’s portfolio.

Other Hedge Funds, Including , Cutler Group Lp boosted its stake in BAC in the latest quarter, The investment management firm added 391,720 additional shares and now holds a total of 963,862 shares of Bank of America Corp which is valued at $15,710,951. Bank of America Corp makes up approx 0.97% of Cutler Group Lp’s portfolio.Central Bank Trust Co reduced its stake in BAC by selling 175 shares or 8.62% in the most recent quarter. The Hedge Fund company now holds 1,854 shares of BAC which is valued at $29,905. Bank of America Corp makes up approx 0.01% of Central Bank Trust Co’s portfolio. Burns J W Co Incny sold out all of its stake in BAC during the most recent quarter. The investment firm sold 10,613 shares of BAC which is valued $170,975.Stillwater Investment Management boosted its stake in BAC in the latest quarter, The investment management firm added 477 additional shares and now holds a total of 100,150 shares of Bank of America Corp which is valued at $1,613,417. Bank of America Corp makes up approx 0.88% of Stillwater Investment Management’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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