Aristotle Capital Management LLC Boosted Its Stake in Bank Amer Corp (BAC) by $5.08 Million

August 9, 2018 - By Margaret Guttierez

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 worsened, 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. Ar Asset Mgmt stated it has 0.69% of its portfolio in Bank of America Corporation (NYSE:BAC). Southeast Asset Advsrs reported 18,259 shares or 0.16% of all its holdings. Nexus Invest Management Inc owns 0.12% invested in Bank of America Corporation (NYSE:BAC) for 25,900 shares. Excalibur Mgmt has 36,860 shares. Thrivent For Lutherans holds 11.81M shares or 1.2% of its portfolio. Kessler Group Ltd Liability reported 78,111 shares. Bremer Association reported 57,233 shares. Gp One Trading Lp holds 0.07% in Bank of America Corporation (NYSE:BAC) or 243,779 shares. Aimz Advsr Llc accumulated 24,833 shares. Hirtle Callaghan Ltd Liability Corp reported 12,000 shares. Barclays Public Limited Liability Company holds 0.42% or 18.40 million shares in its portfolio. Partnervest Advisory Svcs Ltd Liability Co holds 30,791 shares or 0.44% of its portfolio. Schwab Charles Inv Mgmt holds 0.8% in Bank of America Corporation (NYSE:BAC) or 34.51 million shares. M&T Financial Bank Corp has invested 0.17% in Bank of America Corporation (NYSE:BAC). Nicholas Investment Prns Ltd Partnership has 149,493 shares.

Aristotle Capital Management Llc increased its stake in Bank Amer Corp (BAC) by 1.08% based on its latest 2018Q1 regulatory filing with the SEC. Aristotle Capital Management Llc bought 175,041 shares as the company’s stock declined 6.97% with the market. The institutional investor held 16.40 million shares of the major banks company at the end of 2018Q1, valued at $491.96M, up from 16.23M at the end of the previous reported quarter. Aristotle Capital Management Llc who had been investing in Bank Amer Corp for a number of months, seems to be bullish on the $316.23 billion market cap company. The stock decreased 0.44% or $0.14 during the last trading session, reaching $31.66. About 12.32M shares traded. Bank of America Corporation (NYSE:BAC) has risen 29.72% since August 9, 2017 and is uptrending. It has outperformed by 17.15% the S&P500.

Aristotle Capital Management Llc, which manages about $7.10B and $14.89 billion US Long portfolio, decreased its stake in Aristotle/Saul Global Opportunities Fund by 250,789 shares to 221,332 shares, valued at $2.92M in 2018Q1, according to the filing. It also reduced its holding in Westfield Corp (WFGPY) by 775,113 shares in the quarter, leaving it with 1,854 shares, and cut its stake in Baxter Intl Inc (NYSE:BAX).

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 Seekingalpha.com with their article: “Bank Of America: Still A Buy” published on August 07, 2018, Seekingalpha.com published: “Bank Of America: This 5.875% Preferred Stock Has Begun Trading On The NYSE” on July 28, 2018. More interesting news about Bank of America Corporation (NYSE:BAC) were released by: Seekingalpha.com and their article: “Bank Of America: Shareholder Cash Rewards” published on July 19, 2018 as well as Livetradingnews.com‘s news article titled: “Bank of America Corporation (NYSE:BAC) seems undervalued compared to its peers” with publication date: August 09, 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 firm has “Buy” rating by Oppenheimer given on Monday, March 26. As per Wednesday, April 4, the company rating was maintained by Keefe Bruyette & Woods. The firm earned “Buy” rating on Monday, April 16 by Nomura. Citigroup maintained Bank of America Corporation (NYSE:BAC) on Tuesday, April 24 with “Neutral” rating. On Tuesday, April 17 the stock rating was maintained by Barclays Capital with “Equal-Weight”. The stock of Bank of America Corporation (NYSE:BAC) earned “Buy” rating by Vining Sparks on Monday, April 16. The rating was maintained by Jefferies with “Buy” on Monday, April 16. The stock of Bank of America Corporation (NYSE:BAC) has “Outperform” rating given on Friday, March 16 by Credit Suisse.

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

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