As Bank Of America (BAC) Shares Declined, Schwerin Boyle Capital Management INC Increased Stake by $6.80 Million

May 3, 2018 - By Jeanette Garcia

Bank of America Corporation (NYSE:BAC) Corporate LogoBig Money Sentiment increased to 1.19 in 2017 Q4. It has change of 0.15, from 2017Q3’s 1.04. The ratio improved due to BAC positioning: 66 sold and 561 reduced. 162 funds bought stakes and 585 increased stakes. Investors holded 6.91 billion in 2017Q3 but now own 6.85 billion shares or 0.98% less. Jpmorgan Chase & Company owns 180.01 million shs. Fil Limited holds 5.39M shs. Hanson And Doremus Inv Mngmt holds 0.02% of its capital in Bank of America Corporation (NYSE:BAC) for 1,880 shs. 125,000 were reported by Mutual Insurance Federation Of Agricultural Cooperatives. 1.51M are held by London Company Of Virginia. Loring Wolcott & Coolidge Fiduciary Advsr Limited Liability Partnership Ma has invested 0.02% in Bank of America Corporation (NYSE:BAC). Lincluden Mngmt Limited stated it has 0.94% of its capital in Bank of America Corporation (NYSE:BAC). 9,081 are owned by Evanson Asset Mgmt Lc. Moreover, Parsons Management Incorporated Ri has 0.21% invested in Bank of America Corporation (NYSE:BAC). Caxton Ltd Partnership holds 0.8% or 550,000 shs in its capital. Illinois-based Lsv Asset Mgmt has invested 1.38% in Bank of America Corporation (NYSE:BAC). Victory Cap Mngmt reported 1.33M shs or 0.08% of all its holdings. Fcg Advsrs Limited Liability reported 0.2% stake. Allsquare Wealth Mgmt Ltd Liability Corporation owns 20,553 shs or 0.48% of their US capital. Regent Inv Lc accumulated 98,042 shs.

Based on the latest 2017Q4 regulatory filing with the SEC, Schwerin Boyle Capital Management Inc rose its stake in Bank Of America (BAC) by 16.6%. The company’s stock sank 1.20% while Schwerin Boyle Capital Management Inc bought 234,489 shares. At the end of 2017Q4, the hedge fund held 1.65M shares of the major banks company, valued at $48.61 million, up from 1.41M at the end of the previous reported quarter. For a total of 186,675 shares it reduced its holding in Omega Flex (NASDAQ:OFLX) by 109,465 shares in the quarter, and has cut its stake in Bk Of Am Cw19.

Bank of America Corporation (NYSE:BAC) Ratings Coverage

Total analysts of 16 have positions in Bank of America (NYSE:BAC) as follows: 11 rated it a “Buy”, 0 with “Sell” and 5 with “Hold”. The positive are 69%. The firm has $37 highest while $30.0 is the lowest price target. The average target $34.53 is 16.73% above the last ($29.58) price. Since December 5, 2017 according to StockzIntelligence Inc Bank of America has 20 analyst reports. On Friday, January 19 Sandler O’Neill maintained the shares of BAC in report with “Buy” rating. In Monday, March 26 report Oppenheimer maintained the stock with “Buy” rating. On Friday, March 16 the rating was maintained by Credit Suisse with “Outperform”. The stock rating was initiated by Vining Sparks with “Buy” on Monday, April 16. On Tuesday, April 24 the rating was maintained by Citigroup with “Neutral”. The stock rating was maintained by Jefferies with “Buy” on Monday, April 16. On Wednesday, January 17 the company was maintained by BMO Capital Markets. The company rating was maintained by RBC Capital Markets on Wednesday, December 6. On Tuesday, January 9 the rating was downgraded by Societe Generale to “Hold”. On Wednesday, December 20 the firm has “Buy” rating given by Wells Fargo.

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

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