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Bank of America Corp (BAC) Holdings Lessened by Coatue Management LLC

Bank of America Corp (BAC) Holdings Lessened by Coatue Management LLC

Bank of America Corp (BAC) traded up $0.96 during midday trading on Monday, hitting $29.06. Gateway Advisory LLC now owns 10,053 shares of the financial services provider's stock worth $244,000 after acquiring an additional 45 shares during the period. With that said, let us dive into Bank of America Corporation (NYSE:BAC). The institutional investor owned 3,826,541 shares of the financial services provider's stock after purchasing an additional 31,375 shares during the period. This indicates more downside for the $198.88M company. This technical setup was reported by Barchart.com.

The company had seen its current volume reaching at 2.45 million shares in the last trade. About 342,361 shares traded. Federated Investors, Inc. (NYSE:FII) has declined 14.01% since December 4, 2016 and is downtrending. They set an "outperform" rating and a $30.00 price objective on the stock. Its down 0.03, from 1.15 in 2017Q1. 673.63 million shares or 0.17% less from 674.80 million shares in 2017Q1 were reported. This nets out to an increase of 729.07 million shares and is a bullish sign for BAC. Clinton Inc owns 67,225 shares or 0.17% of their U.S. portfolio. Stevens Cap Mgmt LP has 549,442 shares. Institutional investors own 68.28% of the company's stock. Hourglass Capital Ltd Liability Corporation holds 0.99% in Federated Investors, Inc. Fiduciary Trust Com owns 7,686 shares for 0.03% of their portfolio. California Public Employees Retirement Sys has invested 0% in Firstgroup plc (LON:FGP). Massmutual Tru Fsb Adv holds 266,820 shares. Lmr Partners Llp holds 40,385 shares or 0.19% of its portfolio. Rudman Errol M, a New York-based fund reported 15,000 shares. Gamco Invsts Et Al reported 82,850 shares or 0.04% of all its holdings. Amica Pension Fund Board Of Trustees reported 231,736 shares or 0.7% of all its holdings.

Comerica Incorporated, through its subsidiaries, provides various financial services and products. The company has market cap of $716.27 million. The firm operates through two divisions, P2O Solution and Data Storage and Recovery. BidaskClub raised Bank of America from a "sell" rating to a "hold" rating in a research report on Friday, September 22nd. Therefore 41% are positive. BMO Capital Markets reiterated a "market perform" rating and set a $29.00 target price (up previously from $27.00) on shares of Bank of America in a report on Monday, October 16th. The rating was downgraded by Standpoint Research to "Hold" on Thursday, December 1. Bank of America Corp (NYSE BAC) opened at 22.835 on Wednesday. As per Tuesday, September 8, the company rating was upgraded by Nomura. The stock has "Mkt Perform" rating by Bernstein on Tuesday, August 25. Morgan Stanley reiterated an "overweight" rating and issued a $30.00 price target (up from $28.00) on shares of Bank of America in a report on Thursday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-four have given a buy rating and three have given a strong buy rating to the company's stock. The stock has "Buy" rating by Keefe Bruyette & Woods on Tuesday, October 3. As per Wednesday, December 21, the company rating was upgraded by Atlantic Securities. The rating was upgraded by Goldman Sachs to "Neutral" on Thursday, May 19.




Among 18 analysts covering Melrose PLC (LON:MRO), 15 have Buy rating, 0 Sell and 3 Hold. Bank Of America Corp De, a North Carolina-based fund reported 22,191 shares. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.46 by $0.02. BAC's profit will be $4.90 billion for 15.50 P/E if the $0.47 EPS becomes a reality. After $1.27 actual EPS reported by Comerica Incorporated for the previous quarter, Wall Street now forecasts -1.57% negative EPS growth. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.65%. Armbruster Capital Management Inc. raised its position in Bank of America by 10.8% during the 1st quarter. Arbor Investment Advisors LLC lifted its stake in shares of Bank of America by 0.3% in the second quarter. Baystate Wealth Mngmt Limited Liability Company owns 13,204 shares. Arcadia Investment Management Corp Mi invested in 0.05% or 1,277 shares. Finally, Mitsubishi UFJ Securities Holdings Co. Sg Americas Secs Ltd Llc invested 0.27% of its portfolio in Bank of America Corporation (NYSE:BAC).

Element Capital Management Llc holds 0.08% of its portfolio in CytRx Corporation for 605,405 shares. Basswood Mngmt Ltd Liability Corp owns 1.70 million shares for 2.02% of their portfolio. Lmm has 2.57M shares for 2.53% of their portfolio. Bank of America earned a media sentiment score of 0.14 on Accern's scale. Peddock Limited Liability Company holds 0.79% or 61,179 shares in its portfolio. Moreover, Da Davidson has 0.04% invested in Federated Investors, Inc. Bank of America Corp has a 1-year low of $21.46 and a 1-year high of $29.31. More interesting news about Bank of America Corporation (NYSE:BAC) were released by: Bloomberg.com and their article: "BofA's Brexit Planners Considered Bigger Paris Move" published on December 04, 2017 as well as Bloomberg.com's news article titled: "BofA Taps Deutsche's Khaitan for India Capital Markets" with publication date: December 05, 2017. It also reduced its holding in Patterson Companies (NASDAQ:PDCO) by 502,491 shares in the quarter, leaving it with 1.01 million shares, and cut its stake in Sensient Technologies Corp (NYSE:SXT).