As Bank Amer Corp (BAC) Stock Value Declined, Jpmorgan Chase & Company Has Lifted Its Position

July 14, 2018 - By Darrell Taylor

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. Jpmorgan Chase & Company stated it has 1.17% of its portfolio in Bank of America Corporation (NYSE:BAC). Tocqueville Asset Mgmt Limited Partnership holds 2.09 million shares or 0.8% of its portfolio. Systematic Fincl Limited Partnership invested in 0.28% or 427,144 shares. Massachusetts Financial Ser Ma accumulated 25.16 million shares. Palouse Mgmt Inc holds 0.65% or 65,276 shares. Brandywine Mngmt Ltd Liability Corporation reported 6.94 million shares. Altfest L J And Incorporated invested in 0.73% or 56,660 shares. Walleye Trading Limited Company invested in 1.54M shares or 0.26% of the stock. Marble Harbor Inv Counsel Ltd Liability has 34,947 shares. California-based Pring Turner Gp has invested 0.43% in Bank of America Corporation (NYSE:BAC). Cambridge Investment Research Advisors holds 0.25% in Bank of America Corporation (NYSE:BAC) or 749,860 shares. South Dakota Invest Council accumulated 1.42M shares. Carret Asset Mngmt Limited Co accumulated 182,728 shares or 0.9% of the stock. Ls Advsrs Ltd Liability Co has 818,633 shares. Bailard Incorporated reported 17,076 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 2.13 million shares as the company’s stock declined 6.97% with the market. The institutional investor held 182.14M shares of the major banks company at the end of 2018Q1, valued at $5.46 billion, up from 180.01 million 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 75.24 million 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 Activision Blizzard Inc (Call) by 149,100 shares to 9,000 shares, valued at $607,000 in 2018Q1, according to the filing. It also reduced its holding in Telus Corp (NYSE:TU) by 735,516 shares in the quarter, leaving it with 56,124 shares, and cut its stake in Alexandria Real Estate Eq In (NYSE:ARE).

More notable recent Bank of America Corporation (NYSE:BAC) news were published by: Seekingalpha.com which released: “Buybacks set for record, but share gains don’t match” on July 09, 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 company was maintained on Monday, April 16 by Jefferies. Citigroup maintained Bank of America Corporation (NYSE:BAC) rating on Tuesday, April 24. Citigroup has “Neutral” rating and $34 target. The company was maintained on Wednesday, April 4 by Keefe Bruyette & Woods. BMO Capital Markets maintained the stock with “Hold” rating in Wednesday, January 17 report. Oppenheimer maintained Bank of America Corporation (NYSE:BAC) on Monday, March 26 with “Buy” rating. The stock has “Buy” rating by Nomura on Monday, April 16. The rating was maintained by Barclays Capital with “Equal-Weight” on Tuesday, April 17. The company was maintained on Friday, January 19 by Sandler O’Neill. On Friday, March 16 the stock rating was maintained by Credit Suisse with “Outperform”. The stock has “Buy” rating by Vining Sparks on Monday, April 16.

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

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