As Bank Of America Corp (BAC) Stock Price Rose, Meeder Asset Management INC Upped by $2.99 Billion Its Holding

September 16, 2018 - By Julie Barnes

Bank of America Corporation (NYSE:BAC) LogoInvestors sentiment increased to 1.01 in Q2 2018. Its up 0.06, from 0.95 in 2018Q1. It improved, as 69 investors sold BAC shares while 595 reduced holdings. 112 funds opened positions while 557 raised stakes. 6.48 billion shares or 2.75% less from 6.66 billion shares in 2018Q1 were reported. Comerica Natl Bank invested in 0.53% or 2.51 million shares. Shikiar Asset Mgmt reported 260,139 shares. Brookstone Cap Mgmt has invested 0.12% in Bank of America Corporation (NYSE:BAC). Virtu Financial Ltd Liability Corp has invested 0.23% of its portfolio in Bank of America Corporation (NYSE:BAC). Ferguson Wellman Inc holds 0.02% or 20,881 shares in its portfolio. Chevy Chase Trust Hldg accumulated 8.78 million shares or 1.07% of the stock. Southeast Asset Advsr reported 18,278 shares. Brown Brothers Harriman And Com owns 0.07% invested in Bank of America Corporation (NYSE:BAC) for 377,416 shares. Bedell Frazier Invest Counseling has invested 3.35% of its portfolio in Bank of America Corporation (NYSE:BAC). 1.01M were reported by Investec Asset Mgmt North America Inc. Prio Wealth Partnership reported 1.69 million shares or 2.36% of all its holdings. Element Cap Management Lc holds 0.03% or 35,555 shares in its portfolio. First Interstate National Bank & Trust holds 0.19% or 30,888 shares. Artisan Limited Partnership holds 1.04% or 18.39M shares in its portfolio. Woodstock reported 133,644 shares or 0.69% of all its holdings.

Meeder Asset Management Inc increased its stake in Bank Of America Corp (BAC) by 28.75% based on its latest 2018Q2 regulatory filing with the SEC. Meeder Asset Management Inc bought 106,190 shares as the company’s stock rose 1.98% with the market. The institutional investor held 475,527 shares of the major banks company at the end of 2018Q2, valued at $13.41B, up from 369,337 at the end of the previous reported quarter. Meeder Asset Management Inc who had been investing in Bank Of America Corp for a number of months, seems to be bullish on the $303.34 billion market cap company. The stock increased 0.76% or $0.23 during the last trading session, reaching $30.37. About 33.74M shares traded. Bank of America Corporation (NYSE:BAC) has risen 27.06% since September 16, 2017 and is uptrending. It has outperformed by 11.44% the S&P500.

Meeder Asset Management Inc, which manages about $3.85B and $1160.95 billion US Long portfolio, decreased its stake in Hawkins Inc (NASDAQ:HWKN) by 90 shares to 171 shares, valued at $6.05 million in 2018Q2, according to the filing. It also reduced its holding in Provident Financial (NASDAQ:PROV) by 747 shares in the quarter, leaving it with 1,351 shares, and cut its stake in Sangamo Biosciences (NASDAQ:SGMO).

More notable recent Bank of America Corporation (NYSE:BAC) news were published by: Bizjournals.com which released: “The FDIC rankings are out. See which Greater Washington banks rose and fell.” on September 14, 2018, also Investorplace.com with their article: “4 Best Stocks to Invest In Right Now” published on September 06, 2018, Finance.Yahoo.com published: “Why $32 Looks So Great for BAC Stock” on September 11, 2018. More interesting news about Bank of America Corporation (NYSE:BAC) were released by: Seekingalpha.com and their article: “Bank Of America: Playing Defense” published on August 30, 2018 as well as Bizjournals.com‘s news article titled: “Charlotte-area banks are closing early today as Hurricane Florence moves in” with publication date: September 14, 2018.

Bank of America Corporation (NYSE:BAC) Ratings Coverage

Among 7 analysts covering Bank of America (NYSE:BAC), 5 have Buy rating, 0 Sell and 2 Hold. Therefore 71% are positive. Bank of America had 7 analyst reports since March 26, 2018 according to SRatingsIntel. The firm earned “Neutral” rating on Tuesday, April 24 by Citigroup. The stock has “Buy” rating by Oppenheimer on Monday, March 26. The company was maintained on Wednesday, April 4 by Keefe Bruyette & Woods. Jefferies maintained it with “Buy” rating and $3400 target in Monday, April 16 report. Vining Sparks initiated the stock with “Buy” rating in Monday, April 16 report. Barclays Capital maintained the stock with “Equal-Weight” rating in Tuesday, April 17 report. Nomura maintained the stock with “Buy” rating in Monday, April 16 report.

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

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