Bank of America Corp (BAC) Stake Decreased by Pzena Investment Management LLC

Marco Green
January 13, 2018

Century Aluminum Company (NASDAQ:CENX) has risen 116.20% since January 10, 2017 and is uptrending. It has outperformed by 7.97% the S&P500.

Ray Gerald L & Associates Ltd. cut its stake in Bank of America Corp (NYSE:BAC) by 2.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. Bank of America Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The institutional investor held 382,153 shares of the major banks company at the end of 2017Q3, valued at $9.68 million, up from 319,666 at the end of the previous reported quarter. The "percentage off the 52-week high or low" refers to when a stock current price is relative to where it has traded over the last 52 weeks. The company had a trading volume of 29,394,629 shares, compared to its average volume of 74,710,000.

Bank of America (NYSE:BAC) last posted its earnings results on Friday, October 13th. It has outperformed by 41.94% the S&P500. The institutional investor held 194,304 shares of the company at the end of 2017Q3, valued at $3.19M, down from 214,254 at the end of the previous reported quarter.

Since August 10, 2017, it had 0 insider buys, and 1 insider sale for $2.10 million activity. BMO Capital Markets reissued a "hold" rating and issued a $31.00 price target on shares of Bank of America in a research note on Monday. Therefore 66% are positive. As per Friday, October 6, the company rating was maintained by RBC Capital Markets. CLSA maintained the stock with "Outperform" rating in Friday, September 23 report.

Technical analysis of Bank of America Corporation (BAC) stock includes the study of technical indicators and past trends. While talking about Performance of the Stock, Bank of America Corporation now has a Weekly performance of 2.52%, monthly performance percentage is 5.16 percent, Quarterly performance is 17.82 percent, 6 months performance shows a percent value of 25.46% and Yearly Performance is 33.17 percent. BAC reported a change of 2.52% over the last week and performed 5.16% over the last month while its year to date (YTD) performance revealed an activity trend of 3.49%. Mufg Americas holds 83,966 shares. The rating was maintained by Deutsche Bank with "Buy" on Tuesday, January 26. Nomura maintained the shares of BAC in report on Tuesday, July 18 with "Buy" rating. The rating was maintained by Citigroup on Friday, August 21 with "Buy".

Investors sentiment decreased to 1.04 in 2017 Q3. Its down 0.08, from 1.12 in 2017Q2. It turned negative, as 68 investors sold BAC shares while 569 reduced holdings. 117 funds opened positions while 547 raised stakes. Cap Guardian Tru, California-based fund reported 167 shares. Webster Natl Bank N A, Connecticut-based fund reported 200,193 shares. Prudential Fin Incorporated reported 4,058 shares or 0% of all its holdings. After a recent check, it is observed that the insiders for the firm now own 0.08% shares. Bank of America Corporation (BAC) has made its way to a 12-month gain of 33.17%. Sphere 3D Corp. has 0 buy ratings, 1 holds and 0 sells even after the stock tumbled -80.86% from its high of $14.00 to a $17.07 million market value through last close. Duff & Phelps Investment Management accumulated 111,135 shares. 7,384 are owned by West Oak Cap Ltd Liability Corp. Middleton And Communications Ma stated it has 0.47% of its portfolio in Bank of America Corporation (NYSE:BAC). Btim reported 378,328 shares or 0.32% of all its holdings. Cliftonlarsonallen Wealth Advisors Limited Liability Company holds 0.22% or 82,110 shares. Jpmorgan Chase & owns 182.13 million shares for 1.02% of their portfolio. The stock of Bank of America Corporation (NYSE:BAC) earned "Buy" rating by Keefe Bruyette & Woods on Tuesday, June 6. Brown-Forman had 36 analyst reports since July 21, 2015 according to SRatingsIntel. On Wednesday, January 25 the stock rating was downgraded by Raymond James to "Mkt Perform". $25.62's average target is -16.14% below currents $30.55 stock price. As per Tuesday, September 13, the company rating was downgraded by Societe Generale. The total amount of shares outstanding is 10.38 billion, giving the company a market capitalization of about 317.18 billion. Three Corner Ltd Partnership owns 7.51% invested in Bank of America Corporation (NYSE:BAC) for 1.06 million shares.

Investors sentiment decreased to 0.99 in 2017 Q3. Its down 0.09, from 0.87 in 2017Q2. Gam Ag holds 0.08% of its portfolio in Bank of America Corporation (NYSE:BAC) for 70,485 shares. Green Square Ltd Llc has 55,856 shares. Dillon & Assoc Inc has 54,207 shares for 1.15% of their portfolio. (NYSE:RSG) for 18,948 shares. The financial services provider reported $0.48 EPS for the quarter, topping the consensus estimate of $0.46 by $0.02. Graybill Bartz & Assoc Ltd holds 125,507 shares or 2.35% of its portfolio. Daiwa Sb Limited holds 39,900 shares or 0.26% of its portfolio. (NYSE:VZ). Great West Life Assurance Communication Can holds 0.63% of its portfolio in Verizon Communications Inc.

The top 5 institutional holders, in ascending order, are as follows: BERKSHIRE HATHAWAY INC with 679 million shares, BLACKROCK INC. with 666.87 million shares, VANGUARD GROUP INC with 663.61 million shares, STATE STREET CORP with 434.19 million shares, and FMR LLC with 324.94 million shares. Keefe Bruyette & Woods maintained Bank of America Corporation (NYSE:BAC) on Tuesday, October 3 with "Buy" rating.

Other reports by Click Lancashire

Discuss This Article