Jpmorgan Chase & Company Decreased Bank Amer Corp (BAC) Stake by $61.55 Million

April 20, 2018 - By Leslie Harms

Bank of America Corporation (NYSE:BAC) Corporate LogoDuring 2017 Q4 the big money sentiment increased to 1.19. That’s change of 0.15, from 2017Q3’s 1.04. 66 investors sold all, 561 reduced holdings as BAC ratio improved. 585 rose stakes while 162 funds acquired stakes. Funds hold 6.85 billion shares thus 0.98% less from 2017Q3’s 6.91 billion shares. Zeke Advsr Limited Co, a Pennsylvania-based fund reported 226,063 shs. Signature Estate & Inv Advsr Limited Liability Corp owns 702,633 shs. Highland Capital Mgmt Ltd holds 1.7% in Bank of America Corporation (NYSE:BAC) or 753,634 shs. Willingdon Wealth owns 16,793 shs. Shamrock Asset Mngmt Limited Liability Com stated it has 218 shs. Essex Inv Ltd Liability Corporation reported 0.46% stake. Martin Inv Mgmt Limited Liability Com invested in 437,525 shs or 3.1% of the stock. Johnson Group Inc Inc owns 119,210 shs. Rnc Capital Limited Liability Com owns 32,548 shs. Credit Suisse Ag has invested 0.44% of its capital in Bank of America Corporation (NYSE:BAC). The Pennsylvania-based Valley Natl Advisers has invested 0.12% in Bank of America Corporation (NYSE:BAC). 1.72M are owned by Williams Jones And Llc. Calamos Advsr Limited Liability Corporation accumulated 0.69% or 4.57 million shs. Adell Harriman & Carpenter accumulated 14,665 shs. Loring Wolcott And Coolidge Fiduciary Advisors Llp Ma reported 43,987 shs.

According to 2017Q4 SEC form the Jpmorgan Chase & Company decreased its holdings in Bank Amer Corp (BAC) by 1.17%. By selling 2.12M shares Jpmorgan Chase & Company made the stock sank with 1.20%. The major banks company announced $5.31B value for the 2017Q4. Now the institutional investor is holding 180.01M shares, compared to the 182.13 million from the previous quarter. $308.56 billion is the market cap of Bank Amer Corp. BAC hit $30.18 during the last trading session after $0.65 change.Bank of America Corporation is uptrending after having risen 28.18% since April 20, 2017. BAC has 80.90 million volume or 5.70% up from normal. BAC outperformed the S&P500 by 16.63%.

About $474.64 billion US Long portfolio Jpmorgan Chase & Company manages. It rose its stake in Silver Spring Networks Inc (NYSE:SSNI) by 554,415 shares to 940,741 shares, valued at $15.28M in 2017Q4, according to the filing. For a total of 5.46 million shares it increased its holding in Baytex Energy Corp (NYSE:BTE) by 2.29M shares in the quarter, and has risen its stake in Tailored Brands Inc (Put).

Bank of America Corporation (NYSE:BAC) Ratings Coverage

A total of 16 analysts rate Bank of America (NYSE:BAC) as follows: 12 “Buy”, 4 “Hold” and 0 “Sell”. Тherefore 75% are bullish. The firm has $37 highest and $24.0 lowest target. The avg target $34.17 is 13.22% above the last ($30.18) price. (NYSE:BAC) has 21 ratings reports on Apr 20, 2018 according to StockzIntelligence. On Tuesday, October 31 the stock of Bank of America Corporation (NYSE:BAC) earned “Hold” rating by Robert W. Baird. The stock rating was maintained by BMO Capital Markets with “Hold” on Wednesday, January 17. On Monday, April 16 the firm earned “Buy” rating by Nomura. On Friday, March 16 Credit Suisse maintained Bank of America Corporation (NYSE:BAC) with “Outperform” rating. In Wednesday, December 20 report Wells Fargo maintained it with “Buy” rating and $35.0 target. On Friday, January 19 the stock of Bank of America Corporation (NYSE:BAC) earned “Buy” rating by Sandler O’Neill. On Tuesday, December 12 Keefe Bruyette & Woods maintained Bank of America Corporation (NYSE:BAC) rating. Keefe Bruyette & Woods has “Buy” rating and $34.0 target. On Tuesday, January 9 the rating was maintained by Sandler O’Neill with “Buy”. On Friday, February 2 Morgan Stanley maintained Bank of America Corporation (NYSE:BAC) rating. Morgan Stanley has “Overweight” rating and $37 target. On Wednesday, November 1 the stock of Bank of America Corporation (NYSE:BAC) has “Overweight” rating given by JP Morgan.

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

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