Bank Amer Corp (BAC) Share Price Declined While Graham Capital Management LP Has Boosted Its Holding

January 21, 2018 - By Dolores Ford

Investors sentiment decreased to 1.04 in 2017 Q3. Its down 0.08, from 1.12 in 2017Q2. It dived, as 68 investors sold BAC shares while 569 reduced holdings. 117 funds opened positions while 547 raised stakes. 6.91 billion shares or 9.01% more from 6.34 billion shares in 2017Q2 were reported. Wealthtrust, a Alabama-based fund reported 489 shares. Ajo LP owns 2.4% invested in Bank of America Corporation (NYSE:BAC) for 21.77M shares. Principal Finance Group Inc Incorporated Inc reported 18.97 million shares stake. One Natl Association owns 575,280 shares. Dodge & Cox, a California-based fund reported 169.61 million shares. Lodestar Counsel Il stated it has 12,066 shares. Community Bancorporation Na holds 5,360 shares. Kentucky Retirement holds 611,059 shares. Caprock Gp Incorporated stated it has 0.24% in Bank of America Corporation (NYSE:BAC). Livforsakringsbolaget Skandia Omsesidigt has invested 1.37% in Bank of America Corporation (NYSE:BAC). Yorktown Mngmt & Research Com Inc holds 0.47% in Bank of America Corporation (NYSE:BAC) or 71,000 shares. Jupiter Asset Mgmt Ltd holds 2.19 million shares or 1.89% of its portfolio. 10,053 are held by Joel Isaacson Limited Com. Sentinel Co Lba holds 0.06% in Bank of America Corporation (NYSE:BAC) or 13,232 shares. Farmers Company, a Ohio-based fund reported 8,190 shares.

Since August 10, 2017, it had 0 insider buys, and 1 insider sale for $2.10 million activity.

Kenneth Tropin increased its stake in Bank Amer Corp (BAC) by 1112.12% based on its latest 2017Q3 regulatory filing with the SEC. Graham Capital Management Lp bought 550,500 shares as the company’s stock declined 6.00% while stock markets rallied. The hedge fund run by Kenneth Tropin held 600,000 shares of the major banks company at the end of 2017Q3, valued at $15.20 million, up from 49,500 at the end of the previous reported quarter. Graham Capital Management Lp who had been investing in Bank Amer Corp for a number of months, seems to be bullish on the $330.86 billion market cap company. The stock increased 0.76% or $0.24 during the last trading session, reaching $31.72. About 66.49M shares traded. Bank of America Corporation (NYSE:BAC) has risen 58.64% since January 21, 2017 and is uptrending. It has outperformed by 41.94% the S&P500.

Graham Capital Management Lp, which manages about $16.17B and $4.76 billion US Long portfolio, decreased its stake in Select Sector Spdr Tr (XLE) by 510,764 shares to 550,100 shares, valued at $37.67 million in 2017Q3, according to the filing. It also reduced its holding in Tesla Inc (Put) (NASDAQ:TSLA) by 22,800 shares in the quarter, leaving it with 15,000 shares, and cut its stake in Ishares Tr (IWM).

More notable recent Bank of America Corporation (NYSE:BAC) news were published by: Investorplace.com which released: “Bank of America Corp Stock Will Keep Rolling Higher Despite Any Hiccups” on January 16, 2018, also Bloomberg.com with their article: “BofA’s Malik Exited After Complaint of Sexual Misconduct, Source Says” published on January 20, 2018, Bloomberg.com published: “BofA Judge Says ‘No Dice’ to Request to Vacate Scathing Ruling” on January 19, 2018. More interesting news about Bank of America Corporation (NYSE:BAC) were released by: Wsj.com and their article: “Bank of America to Give Bonuses to About 145000 Employees Following Tax Overhaul” published on December 22, 2017 as well as Bloomberg.com‘s news article titled: “Bank of America Warrant Holders Could Reap 4000 Percent Returns” with publication date: January 13, 2018.

Bank of America Corporation (NYSE:BAC) Ratings Coverage

Among 32 analysts covering Bank of America (NYSE:BAC), 21 have Buy rating, 0 Sell and 11 Hold. Therefore 66% are positive. Bank of America has $36.0 highest and $15 lowest target. $25.87’s average target is -18.44% below currents $31.72 stock price. Bank of America had 105 analyst reports since July 21, 2015 according to SRatingsIntel. The rating was maintained by Jefferies on Thursday, September 14 with “Buy”. The firm earned “Market Perform” rating on Monday, May 16 by Keefe Bruyette & Woods. UBS downgraded the stock to “Neutral” rating in Wednesday, January 11 report. The stock of Bank of America Corporation (NYSE:BAC) earned “Buy” rating by Deutsche Bank on Tuesday, August 25. The stock has “Outperform” rating by Wells Fargo on Thursday, September 10. The rating was downgraded by Robert W. Baird on Wednesday, November 16 to “Neutral”. The firm earned “Hold” rating on Wednesday, August 23 by BMO Capital Markets. The stock has “Hold” rating by Societe Generale on Tuesday, January 9. The stock of Bank of America Corporation (NYSE:BAC) earned “Buy” rating by Jefferies on Monday, October 10. Keefe Bruyette & Woods maintained the shares of BAC in report on Tuesday, December 12 with “Buy” rating.

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