Bank Amer Corp (BAC) Market Valuation Declined While Darsana Capital Partners LP Lowered Stake

June 14, 2018 - By Jeanette Kaplan

Bank of America Corporation (NYSE:BAC) LogoInvestors sentiment decreased to 0.95 in Q1 2018. Its down 0.24, from 1.19 in 2017Q4. It is negative, as 73 investors sold BAC shares while 633 reduced holdings. 134 funds opened positions while 535 raised stakes. 6.66 billion shares or 2.67% less from 6.85 billion shares in 2017Q4 were reported. Salem Counselors Incorporated stated it has 1.00M shares or 3.33% of all its holdings. Crow Point Prtn Ltd Liability stated it has 2,337 shares. Manufacturers Life Insurance The invested 1.47% of its portfolio in Bank of America Corporation (NYSE:BAC). Comml Bank Of America Corp De has invested 0.07% of its portfolio in Bank of America Corporation (NYSE:BAC). Mirae Asset Glob Co Ltd invested in 0.76% or 1.93 million shares. Advisory Research stated it has 9,948 shares. 81,697 were reported by E&G Advsr Ltd Partnership. Norinchukin National Bank & Trust The stated it has 591,362 shares or 0.3% of all its holdings. Wunderlich Capital Managemnt reported 0.11% in Bank of America Corporation (NYSE:BAC). Gibraltar Capital Management invested in 225,722 shares or 5.74% of the stock. 782,333 were accumulated by Private Asset Mngmt Inc. Leisure Mngmt has invested 0.32% in Bank of America Corporation (NYSE:BAC). Park Natl Oh stated it has 883,327 shares. Dupont Cap Mgmt has invested 0.95% in Bank of America Corporation (NYSE:BAC). Parametric Limited Liability invested in 0.81% or 27.29 million shares.

Darsana Capital Partners Lp decreased its stake in Bank Amer Corp (BAC) by 10.34% based on its latest 2018Q1 regulatory filing with the SEC. Darsana Capital Partners Lp sold 750,000 shares as the company’s stock declined 6.97% with the market. The institutional investor held 6.50 million shares of the major banks company at the end of 2018Q1, valued at $194.94 million, down from 7.25 million at the end of the previous reported quarter. Darsana Capital Partners Lp who had been investing in Bank Amer Corp for a number of months, seems to be less bullish one the $299.11B market cap company. The stock decreased 1.14% or $0.34 during the last trading session, reaching $29.5. About 77.68 million shares traded or 15.98% up from the average. Bank of America Corporation (NYSE:BAC) has risen 29.72% since June 14, 2017 and is uptrending. It has outperformed by 17.15% the S&P500.

Darsana Capital Partners Lp, which manages about $989.03M and $3.12 billion US Long portfolio, upped its stake in Ferrari N V by 445,718 shares to 1.50M shares, valued at $180.78 million in 2018Q1, according to the filing. It also increased its holding in Gray Television Inc (NYSE:GTN) by 1.59M shares in the quarter, for a total of 7.59M shares, and has risen its stake in Autodesk Inc (NASDAQ:ADSK).

Analysts await Bank of America Corporation (NYSE:BAC) to report earnings on July, 17. They expect $0.63 earnings per share, up 36.96 % or $0.17 from last year’s $0.46 per share. BAC’s profit will be $6.39 billion for 11.71 P/E if the $0.63 EPS becomes a reality. After $0.62 actual earnings per share reported by Bank of America Corporation for the previous quarter, Wall Street now forecasts 1.61 % EPS growth.

More notable recent Bank of America Corporation (NYSE:BAC) news were published by: Fool.com which released: “How Wells Fargo Is Following in Bank of America’s Footsteps” on June 11, 2018, also Investorplace.com with their article: “Trade of the Day: Bank of America Corp Stock Could Be the Next to Rally” published on June 07, 2018, Seekingalpha.com published: “Bank of America Corporation (BAC) Presents at Morgan Stanley Financials Conference (Transcript)” on June 12, 2018. More interesting news about Bank of America Corporation (NYSE:BAC) were released by: Nasdaq.com and their article: “Consolidated Research: 2018 Summary Expectations for Humana, DexCom, Royal Dutch Shell, First Connecticut …” published on June 14, 2018 as well as Seekingalpha.com‘s news article titled: “Citi warns on bank job automation” with publication date: June 12, 2018.

Bank of America Corporation (NYSE:BAC) Ratings Coverage

Among 14 analysts covering Bank of America (NYSE:BAC), 9 have Buy rating, 0 Sell and 5 Hold. Therefore 64% are positive. Bank of America had 17 analyst reports since December 20, 2017 according to SRatingsIntel. The stock of Bank of America Corporation (NYSE:BAC) earned “Buy” rating by Keefe Bruyette & Woods on Wednesday, April 4. Barclays Capital maintained the stock with “Equal-Weight” rating in Tuesday, April 17 report. As per Tuesday, January 9, the company rating was maintained by Sandler O’Neill. The rating was initiated by Vining Sparks with “Buy” on Monday, April 16. The stock of Bank of America Corporation (NYSE:BAC) has “Hold” rating given on Tuesday, January 2 by Robert W. Baird. The firm has “Buy” rating given on Monday, March 26 by Oppenheimer. The firm has “Neutral” rating given on Tuesday, April 24 by Citigroup. The stock of Bank of America Corporation (NYSE:BAC) earned “Outperform” rating by Credit Suisse on Friday, March 16. The company was maintained on Thursday, December 21 by Keefe Bruyette & Woods. Wells Fargo maintained the stock with “Buy” rating in Wednesday, December 20 report.

Bank of America Corporation (NYSE:BAC) Institutional Positions Chart

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