As Bank Of America Corp (BAC) Share Value Declined, Shareholder Mitsubishi Ufj Trust & Banking Corp Has Cut Stake by $10.52 Million

July 27, 2018 - By Jack Shaw

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 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. Oregon Employees Retirement Fund reported 3.34M shares. Oakmont Prns Ltd Liability Co has 7,015 shares for 0.11% of their portfolio. Longer holds 2.05% or 62,440 shares. Sigma Planning owns 195,359 shares. 17,901 are owned by Field Main Bancshares. Compton Cap Mgmt Inc Ri has invested 1.26% in Bank of America Corporation (NYSE:BAC). First Amer Savings Bank owns 298,816 shares for 0.68% of their portfolio. Guardian Life Of America invested in 22,357 shares or 0.12% of the stock. Connable Office Incorporated reported 219,584 shares. 4.44 million were reported by Brown Advisory. Affinity Investment Advisors Limited invested 3.06% of its portfolio in Bank of America Corporation (NYSE:BAC). Hm Cap Limited has 0.17% invested in Bank of America Corporation (NYSE:BAC) for 6,904 shares. Albion Fincl Grp Ut holds 21,466 shares. Usa Financial Portformulas Corp reported 0.9% of its portfolio in Bank of America Corporation (NYSE:BAC). Employees Retirement Systems Of Texas accumulated 0.99% or 2.45M shares.

Mitsubishi Ufj Trust & Banking Corp decreased its stake in Bank Of America Corp (BAC) by 1.73% based on its latest 2018Q1 regulatory filing with the SEC. Mitsubishi Ufj Trust & Banking Corp sold 362,909 shares as the company’s stock declined 6.97% with the market. The institutional investor held 20.56 million shares of the major banks company at the end of 2018Q1, valued at $616.65 million, down from 20.92M at the end of the previous reported quarter. Mitsubishi Ufj Trust & Banking Corp who had been investing in Bank Of America Corp for a number of months, seems to be less bullish one the $309.79B market cap company. The stock decreased 0.42% or $0.13 during the last trading session, reaching $30.94. About 46.22 million shares traded. Bank of America Corporation (NYSE:BAC) has risen 29.72% since July 27, 2017 and is uptrending. It has outperformed by 17.15% the S&P500.

Mitsubishi Ufj Trust & Banking Corp, which manages about $56.56 billion US Long portfolio, upped its stake in General Electric (NYSE:GE) by 364,664 shares to 17.91M shares, valued at $241.45 million in 2018Q1, according to the filing. It also increased its holding in Prudential Financial (NYSE:PRU) by 45,434 shares in the quarter, for a total of 978,812 shares, and has risen its stake in C.

Analysts await Bank of America Corporation (NYSE:BAC) to report earnings on October, 12. They expect $0.64 earnings per share, up 33.33 % or $0.16 from last year’s $0.48 per share. BAC’s profit will be $6.41 billion for 12.09 P/E if the $0.64 EPS becomes a reality. After $0.63 actual earnings per share reported by Bank of America Corporation for the previous quarter, Wall Street now forecasts 1.59 % EPS growth.

More notable recent Bank of America Corporation (NYSE:BAC) news were published by: Seekingalpha.com which released: “Bank Of America: Shareholder Cash Rewards” on July 19, 2018, also Seekingalpha.com with their article: “Bank Of America: Downside Protection” published on July 05, 2018, Seekingalpha.com published: “Bank of America Corporation (BAC) CEO Brian Moynihan on Q2 2018 Results – Earnings Call Transcript” on July 16, 2018. More interesting news about Bank of America Corporation (NYSE:BAC) were released by: Seekingalpha.com and their article: “Bank of America to redeem certain outstanding depositary shares” published on July 26, 2018 as well as Seekingalpha.com‘s news article titled: “Bank Of America: Nothing Lasts For Ever” with publication date: July 19, 2018.

Bank of America Corporation (NYSE:BAC) Ratings Coverage

Among 9 analysts covering Bank of America (NYSE:BAC), 7 have Buy rating, 0 Sell and 2 Hold. Therefore 78% are positive. Bank of America had 9 analyst reports since February 2, 2018 according to SRatingsIntel. Oppenheimer maintained the stock with “Buy” rating in Monday, March 26 report. The rating was maintained by Morgan Stanley on Friday, February 2 with “Overweight”. Vining Sparks initiated the stock with “Buy” rating in Monday, April 16 report. On Tuesday, April 24 the stock rating was maintained by Citigroup with “Neutral”. Keefe Bruyette & Woods maintained Bank of America Corporation (NYSE:BAC) rating on Wednesday, April 4. Keefe Bruyette & Woods has “Buy” rating and $3500 target. The firm has “Buy” rating by Jefferies given on Monday, April 16. The firm has “Outperform” rating by Credit Suisse given on Friday, March 16. Nomura maintained Bank of America Corporation (NYSE:BAC) on Monday, April 16 with “Buy” rating. Barclays Capital maintained it with “Equal-Weight” rating and $37 target in Tuesday, April 17 report.

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

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