Bank Amer Corp (BAC) Holder Texas Permanent School Fund Cut Stake as Stock Rose

November 10, 2018 - By Ellis Scott

Bank of America Corporation (NYSE:BAC) LogoInvestors sentiment increased to 1.01 in 2018 Q2. Its up 0.06, from 0.95 in 2018Q1. It increased, 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. Cambridge owns 590,052 shares for 1.03% of their portfolio. Bremer Trust National Association invested 0.18% of its portfolio in Bank of America Corporation (NYSE:BAC). Boston Prtnrs reported 67.05 million shares stake. Norinchukin Bank & Trust The reported 0.25% stake. Institute For Wealth Mgmt Llc has invested 1.18% in Bank of America Corporation (NYSE:BAC). Jolley Asset Mngmt Ltd Company stated it has 3.02% in Bank of America Corporation (NYSE:BAC). First Financial Bank Tru Of Newtown accumulated 46,051 shares or 0.36% of the stock. Tru Department Mb Natl Bank N A reported 948 shares or 0% of all its holdings. Acropolis Invest Management Ltd Limited Liability Company has 0.02% invested in Bank of America Corporation (NYSE:BAC). Ameriprise Inc owns 47.73M shares or 0.6% of their US portfolio. Berkshire Hathaway stated it has 679.00M shares. Moreover, Old Dominion Management Incorporated has 0.46% invested in Bank of America Corporation (NYSE:BAC). Montgomery Invest Management holds 2.5% or 215,115 shares. Pring Turner Capital stated it has 0.41% in Bank of America Corporation (NYSE:BAC). Orleans Cap Mngmt Corp La has invested 1.96% in Bank of America Corporation (NYSE:BAC).

Texas Permanent School Fund decreased its stake in Bank Amer Corp (BAC) by 6.91% based on its latest 2018Q2 regulatory filing with the SEC. Texas Permanent School Fund sold 170,918 shares as the company’s stock rose 1.98% with the market. The institutional investor held 2.30M shares of the major banks company at the end of 2018Q2, valued at $64.87 million, down from 2.47M at the end of the previous reported quarter. Texas Permanent School Fund who had been investing in Bank Amer Corp for a number of months, seems to be less bullish one the $279.90 billion market cap company. The stock decreased 1.21% or $0.35 during the last trading session, reaching $28.52. About 43.27 million shares traded. Bank of America Corporation (NYSE:BAC) has risen 27.06% since November 10, 2017 and is uptrending. It has outperformed by 11.44% the S&P500.

Texas Permanent School Fund, which manages about $7.32B US Long portfolio, upped its stake in At&T Inc (NYSE:T) by 185,569 shares to 1.77M shares, valued at $56.90M in 2018Q2, according to the filing.

Analysts await Bank of America Corporation (NYSE:BAC) to report earnings on January, 16. They expect $0.64 earnings per share, up 36.17 % or $0.17 from last year’s $0.47 per share. BAC’s profit will be $6.28B for 11.14 P/E if the $0.64 EPS becomes a reality. After $0.66 actual earnings per share reported by Bank of America Corporation for the previous quarter, Wall Street now forecasts -3.03 % negative EPS growth.

More notable recent Bank of America Corporation (NYSE:BAC) news were published by: Finance.Yahoo.com which released: “This Selloff Could Be Your Best Chance to Buy Bank of America Stock” on October 26, 2018, also Bizjournals.com with their article: “It’s official: Bank of America is on the move in downtown Orlando” published on November 09, 2018, Finance.Yahoo.com published: “Looking for a Bank Buy? You Can Do a Lot Better than Wells Fargo Stock” on November 08, 2018. More interesting news about Bank of America Corporation (NYSE:BAC) were released by: Benzinga.com and their article: “Bank Earnings Start Back Up On Monday With Bank Of America” published on October 12, 2018 as well as Fool.com‘s news article titled: “Better Buy: Bank of America Corporation vs. Goldman Sachs” with publication date: November 03, 2018.

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

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