Shareholder Jpmorgan Chase & Company Upped Bank Amer Corp (BAC) Holding

July 14, 2018 - By Christine McCrea

Bank of America Corporation (NYSE:BAC) LogoInvestors sentiment decreased to 0.95 in 2018 Q1. Its down 0.24, from 1.19 in 2017Q4. It dropped, 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. Arbor Investment Advisors Lc has invested 0.2% in Bank of America Corporation (NYSE:BAC). Pennsylvania Company reported 302,026 shares. Jolley Asset Mgmt Ltd Liability Co reported 174,658 shares. First Financial Bank Trust Of Newtown holds 0.38% of its portfolio in Bank of America Corporation (NYSE:BAC) for 46,201 shares. Integral Derivatives Limited Liability Company holds 0.03% of its portfolio in Bank of America Corporation (NYSE:BAC) for 35,474 shares. Caxton Assocs LP invested in 0.84% or 550,000 shares. Steadfast Capital Mngmt LP owns 3.60 million shares for 1.91% of their portfolio. Maryland-based Profund Advsr Limited Com has invested 0.67% in Bank of America Corporation (NYSE:BAC). Wharton Business Group Inc Limited Liability reported 0.04% in Bank of America Corporation (NYSE:BAC). South Dakota Inv Council has invested 0.97% in Bank of America Corporation (NYSE:BAC). Deutsche Natl Bank Ag reported 0.59% stake. High Pointe Management Limited Liability Co has 76,150 shares. Oz Limited Partnership holds 18.09M shares. Schnieders Management Limited Liability Com accumulated 207,846 shares. Bnp Paribas Asset Management Hldgs Sa has 2.15M shares.

Jpmorgan Chase & Company increased its stake in Bank Amer Corp (BAC) by 1.19% based on its latest 2018Q1 regulatory filing with the SEC. Jpmorgan Chase & Company bought 2.13M shares as the company’s stock declined 6.97% with the market. The institutional investor held 182.14 million shares of the major banks company at the end of 2018Q1, valued at $5.46B, up from 180.01M at the end of the previous reported quarter. Jpmorgan Chase & Company who had been investing in Bank Amer Corp for a number of months, seems to be bullish on the $289.48B market cap company. The stock decreased 0.76% or $0.22 during the last trading session, reaching $28.55. About 75.24M shares traded or 17.61% up from the average. Bank of America Corporation (NYSE:BAC) has risen 29.72% since July 14, 2017 and is uptrending. It has outperformed by 17.15% the S&P500.

Jpmorgan Chase & Company, which manages about $466.55B US Long portfolio, decreased its stake in Tcf Finl Corp (NYSE:TCB) by 450,690 shares to 5.54M shares, valued at $126.31 million in 2018Q1, according to the filing. It also reduced its holding in Xerox Corp by 469,832 shares in the quarter, leaving it with 898,044 shares, and cut its stake in Union Pac Corp (Call).

More notable recent Bank of America Corporation (NYSE:BAC) news were published by: Finance.Yahoo.com which released: “Bank of America Stock Looks Good on Paper, but That’s About It” on July 11, 2018, also Fool.com with their article: “Bank of America Is Going to Dimonland” published on July 02, 2018, Seekingalpha.com published: “Bank Of America: The Other Parts Matter” on July 09, 2018. More interesting news about Bank of America Corporation (NYSE:BAC) were released by: Seekingalpha.com and their article: “How Bank Of America’s Growth Will Drive The Stock Higher” published on July 10, 2018 as well as Seekingalpha.com‘s news article titled: “Bank Of America: Downside Protection” with publication date: July 05, 2018.

Bank of America Corporation (NYSE:BAC) Ratings Coverage

Among 11 analysts covering Bank of America (NYSE:BAC), 8 have Buy rating, 0 Sell and 3 Hold. Therefore 73% are positive. Bank of America has $37 highest and $34 lowest target. $35.45’s average target is 24.17% above currents $28.55 stock price. Bank of America had 11 analyst reports since January 17, 2018 according to SRatingsIntel. The stock has “Buy” rating by Jefferies on Monday, April 16. The company was maintained on Wednesday, April 4 by Keefe Bruyette & Woods. The rating was maintained by Sandler O’Neill with “Buy” on Friday, January 19. The rating was maintained by Barclays Capital on Tuesday, April 17 with “Equal-Weight”. The rating was maintained by Credit Suisse with “Outperform” on Friday, March 16. The company was maintained on Tuesday, April 24 by Citigroup. The stock of Bank of America Corporation (NYSE:BAC) has “Buy” rating given on Monday, April 16 by Vining Sparks. BMO Capital Markets maintained Bank of America Corporation (NYSE:BAC) on Wednesday, January 17 with “Hold” rating. The rating was maintained by Oppenheimer on Monday, March 26 with “Buy”. The rating was maintained by Nomura with “Buy” on Monday, April 16.

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

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