Bank Of America Corporation (BAC) Stock Price Declined While Atalanta Sosnoff Capital LLC Increased Position

August 10, 2018 - By Catherine Diaz

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 turned 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. Washington has invested 4.25% in Bank of America Corporation (NYSE:BAC). Andra Ap owns 155,400 shares for 0.12% of their portfolio. Clarivest Asset Ltd Liability Com holds 701,926 shares or 0.36% of its portfolio. Us Comml Bank De has 6.13 million shares. Wellcome (The) As Trustee Of The Wellcome stated it has 20.00 million shares. Pitcairn Co stated it has 0.37% of its portfolio in Bank of America Corporation (NYSE:BAC). Fort Point Prtnrs Ltd Liability holds 23,920 shares or 0.19% of its portfolio. Ally Fincl invested in 10,000 shares. Aviva Public Limited Com owns 6.17M shares. Switzerland-based Gam Ag has invested 0.08% in Bank of America Corporation (NYSE:BAC). Hermes Invest Management Ltd owns 2.86M shares. Park Natl Oh holds 883,327 shares. Levin Cap Strategies Lp holds 2.58% or 4.74M shares. Moors & Cabot stated it has 178,463 shares or 0.71% of all its holdings. Stieven Capital Advisors Ltd Partnership holds 379,200 shares or 1.81% of its portfolio.

Atalanta Sosnoff Capital Llc increased its stake in Bank Of America Corporation (BAC) by 4.04% based on its latest 2018Q1 regulatory filing with the SEC. Atalanta Sosnoff Capital Llc bought 173,437 shares as the company’s stock declined 6.97% with the market. The institutional investor held 4.47M shares of the major banks company at the end of 2018Q1, valued at $133.91M, up from 4.29M at the end of the previous reported quarter. Atalanta Sosnoff Capital Llc who had been investing in Bank Of America Corporation for a number of months, seems to be bullish on the $310.24B market cap company. The stock decreased 1.71% or $0.54 during the last trading session, reaching $31.06. About 11.76M shares traded. Bank of America Corporation (NYSE:BAC) has risen 29.72% since August 10, 2017 and is uptrending. It has outperformed by 17.15% the S&P500.

Atalanta Sosnoff Capital Llc, which manages about $2.46 billion and $3.00B US Long portfolio, decreased its stake in Facebook Inc (NASDAQ:FB) by 41,975 shares to 464,900 shares, valued at $74.29M in 2018Q1, according to the filing. It also reduced its holding in Apple Inc (NASDAQ:AAPL) by 34,223 shares in the quarter, leaving it with 877,034 shares, and cut its stake in Nvidia Corp (NASDAQ:NVDA).

More notable recent Bank of America Corporation (NYSE:BAC) news were published by: Seekingalpha.com which released: “Bank Of America: Can The Rally Continue?” on August 03, 2018, also Finance.Yahoo.com with their article: “Why Bank of America Will Break Out” published on July 18, 2018, Nasdaq.com published: “Get into Bank Stocks Soon Because Inflation Is on the Way” on August 09, 2018. More interesting news about Bank of America Corporation (NYSE:BAC) were released by: Bizjournals.com and their article: “BofA’s first Pittsburgh branch to open next month, three more in the works” published on August 10, 2018 as well as Seekingalpha.com‘s news article titled: “Bank Of America: Still A Buy” with publication date: August 07, 2018.

Bank of America Corporation (NYSE:BAC) Ratings Coverage

Among 8 analysts covering Bank of America (NYSE:BAC), 6 have Buy rating, 0 Sell and 2 Hold. Therefore 75% are positive. Bank of America had 8 analyst reports since March 16, 2018 according to SRatingsIntel. The stock of Bank of America Corporation (NYSE:BAC) has “Buy” rating given on Monday, April 16 by Jefferies. Oppenheimer maintained the stock with “Buy” rating in Monday, March 26 report. The rating was initiated by Vining Sparks on Monday, April 16 with “Buy”. The firm has “Buy” rating by Nomura given on Monday, April 16. The firm has “Equal-Weight” rating given on Tuesday, April 17 by Barclays Capital. Credit Suisse maintained the stock with “Outperform” rating in Friday, March 16 report. The rating was maintained by Keefe Bruyette & Woods on Wednesday, April 4 with “Buy”. Citigroup maintained Bank of America Corporation (NYSE:BAC) rating on Tuesday, April 24. Citigroup has “Neutral” rating and $34 target.

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

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