Bank Amer Corp (BAC) Valuation Declined While Sunbelt Securities INC Decreased Holding by $10.50 Million

September 17, 2017 - By Hazel Jackson

Investors sentiment increased to 1.1 in Q4 2016. Its up 0.09, from 1.01 in 2016Q3. It is positive, as 62 investors sold BAC shares while 560 reduced holdings. 207 funds opened positions while 479 raised stakes. 6.48 billion shares or 6.26% more from 6.10 billion shares in 2016Q3 were reported. Hellman Jordan Company Ma invested in 65,441 shares. First State Bank Sioux Falls owns 21,136 shares. Sequoia Financial Advisors Lc, a Ohio-based fund reported 34,266 shares. Fincl Management Pro Inc holds 0.03% or 2,854 shares in its portfolio. L And S Advsr invested in 1.7% or 338,026 shares. Amica Retiree reported 40,172 shares. Baxter Bros Incorporated holds 40,142 shares. Investec Asset owns 4.00M shares for 0.46% of their portfolio. Mason Street Advisors Ltd Limited Liability Company invested in 0.83% or 1.38M shares. 249,046 were accumulated by Davenport & Communication Ltd Liability. Two Sigma Securities Lc accumulated 435,767 shares. 76 were accumulated by Jump Trading Ltd Com. The Ohio-based Shoker Counsel Incorporated has invested 0.28% in Bank of America Corp (NYSE:BAC). Palisade Mgmt Limited Liability Co Nj stated it has 0.03% in Bank of America Corp (NYSE:BAC). Deprince Race Zollo Incorporated invested in 27,500 shares or 0.01% of the stock.

Sunbelt Securities Inc decreased its stake in Bank Amer Corp (BAC) by 77.59% based on its latest 2016Q4 regulatory filing with the SEC. Sunbelt Securities Inc sold 477,430 shares as the company’s stock declined 6.00% while stock markets rallied. The institutional investor held 137,861 shares of the major banks company at the end of 2016Q4, valued at $3.05 million, down from 615,291 at the end of the previous reported quarter. Sunbelt Securities Inc who had been investing in Bank Amer Corp for a number of months, seems to be less bullish one the $257.22 billion market cap company. The stock increased 0.58% or $0.14 on September 15, reaching $24.38. About 85.94 million shares traded or 28.27% up from the average. Bank of America Corp (NYSE:BAC) has risen 58.64% since September 17, 2016 and is uptrending. It has outperformed by 41.94% the S&P500.

Sunbelt Securities Inc, which manages about $158.18 million and $81.49M US Long portfolio, upped its stake in Lubys Inc (NYSE:LUB) by 900,000 shares to 1.15 million shares, valued at $4.93 million in 2016Q4, according to the filing.

Analysts await Bank of America Corp (NYSE:BAC) to report earnings on October, 13 before the open. They expect $0.47 EPS, up 14.63 % or $0.06 from last year’s $0.41 per share. BAC’s profit will be $4.96B for 12.97 P/E if the $0.47 EPS becomes a reality. After $0.46 actual EPS reported by Bank of America Corp for the previous quarter, Wall Street now forecasts 2.17 % EPS growth.

More notable recent Bank of America Corp (NYSE:BAC) news were published by: which released: “3 Big Stock Charts for Thursday: Bank of America Corp (BAC), JPMorgan Chase …” on September 14, 2017, also with their article: “Bank of America Corp (BAC) Stock Is a Buffett-Stamped Buy” published on September 06, 2017, published: “Bank of America Corp (BAC) Stock: The Dilemma of Right Stock, Wrong Time” on September 11, 2017. More interesting news about Bank of America Corp (NYSE:BAC) were released by: and their article: “Bank of America Corp (BAC) Stock Is Starting To Make Up for Lost Time” published on September 08, 2017 as well as‘s news article titled: “Bank of America Corp (BAC) Stock: Be Patient, Expect Near-Term Pressures” with publication date: September 15, 2017.

Bank of America Corp (NYSE:BAC) Ratings Coverage

Among 29 analysts covering Bank of America (NYSE:BAC), 19 have Buy rating, 0 Sell and 10 Hold. Therefore 66% are positive. Bank of America has $30 highest and $15 lowest target. $22.50’s average target is -7.71% below currents $24.38 stock price. Bank of America had 79 analyst reports since July 21, 2015 according to SRatingsIntel. Deutsche Bank maintained Bank of America Corp (NYSE:BAC) rating on Tuesday, January 26. Deutsche Bank has “Buy” rating and $17 target. The rating was maintained by BMO Capital Markets on Wednesday, April 12 with “Hold”. As per Thursday, August 10, the company rating was maintained by Wells Fargo. The rating was upgraded by Macquarie Research on Tuesday, August 25 to “Underperform”. The company was upgraded on Tuesday, November 29 by Keefe Bruyette & Woods. On Wednesday, January 11 the stock rating was maintained by Citigroup with “Buy”. As per Sunday, August 13, the company rating was maintained by Keefe Bruyette & Woods. The stock has “Buy” rating by RBC Capital Markets on Wednesday, August 30. Vetr downgraded the stock to “Buy” rating in Tuesday, August 11 report. Jefferies maintained Bank of America Corp (NYSE:BAC) rating on Monday, October 10. Jefferies has “Buy” rating and $19 target.

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