As Bank Of America Corporation (BAC) Stock Value Declined, State Of Tennessee Treasury Department Has Upped by $10.50 Million Its Holding

June 20, 2017 - By Hazel Jackson

Investors sentiment increased to 1.1 in Q4 2016. Its up 0.09, from 1.01 in 2016Q3. It improved, 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. Ipg Invest Advsrs Limited Co accumulated 43,076 shares. The New York-based Lazard Asset Ltd Liability Corp has invested 1.45% in Bank of America Corp (NYSE:BAC). Hoertkorn Richard Charles reported 402,075 shares. Trustmark Bancshares Tru Department has invested 0.26% in Bank of America Corp (NYSE:BAC). Raymond James And Assoc reported 4.67 million shares. Fuller And Thaler Asset Incorporated has 0% invested in Bank of America Corp (NYSE:BAC). Asset accumulated 60,764 shares. Deutsche Bank Ag owns 0.45% invested in Bank of America Corp (NYSE:BAC) for 25.56 million shares. Longer Investments owns 111,225 shares. Jfs Wealth Advsr Lc stated it has 11,970 shares or 0.07% of all its holdings. Sphinx Trading Lp reported 7,672 shares. Avenir accumulated 1.30M shares. Boltwood Cap reported 9,262 shares or 0.16% of all its holdings. Regions Financial has 737,011 shares for 0.2% of their portfolio. Cooke Bieler LP holds 2.37M shares.

State Of Tennessee Treasury Department increased its stake in Bank Of America Corporation (BAC) by 6.62% based on its latest 2016Q4 regulatory filing with the SEC. State Of Tennessee Treasury Department bought 477,138 shares as the company’s stock declined 6.00% while stock markets rallied. The institutional investor held 7.69M shares of the major banks company at the end of 2016Q4, valued at $169.86 million, up from 7.21M at the end of the previous reported quarter. State Of Tennessee Treasury Department who had been investing in Bank Of America Corporation for a number of months, seems to be bullish on the $236.84 billion market cap company. The stock increased 2.05% or $0.48 during the last trading session, reaching $23.91. About 54,844 shares traded. Bank of America Corp (NYSE:BAC) has risen 58.64% since June 20, 2016 and is uptrending. It has outperformed by 41.94% the S&P500.

State Of Tennessee Treasury Department, which manages about $18.93 billion US Long portfolio, decreased its stake in Philip Morris Intl Inc (NYSE:PM) by 66,962 shares to 595,901 shares, valued at $54.52M in 2016Q4, according to the filing. It also reduced its holding in Lincoln Elec Hldgs Inc (NASDAQ:LECO) by 40,845 shares in the quarter, leaving it with 22,600 shares, and cut its stake in Celgene Corp (NASDAQ:CELG).

More notable recent Bank of America Corp (NYSE:BAC) news were published by: Benzinga.com which released: “Bank of America Upgraded To 3.5 Stars By Vetr” on June 16, 2017, also Investorplace.com with their article: “Buy Bank of America Corp (BAC) Stock for a Nearly 20% Discount” published on June 19, 2017, Reuters.com published: “Bank of America targets growth in international cash management” on June 14, 2017. More interesting news about Bank of America Corp (NYSE:BAC) were released by: Investorplace.com and their article: “Tuesday’s Vital Data: Bank of America Corp (BAC), Facebook Inc (FB) and …” published on June 13, 2017 as well as Investorplace.com‘s news article titled: “Bank of America Corp (BAC) Stock Will Return to Bull Mode Soon” with publication date: June 13, 2017.

Bank of America Corp (NYSE:BAC) Ratings Coverage

Among 27 analysts covering Bank of America (NYSE:BAC), 17 have Buy rating, 0 Sell and 10 Hold. Therefore 63% are positive. Bank of America had 62 analyst reports since July 21, 2015 according to SRatingsIntel. On Friday, April 7 the stock rating was maintained by Wood with “Outperform”. The stock of Bank of America Corp (NYSE:BAC) has “Buy” rating given on Tuesday, January 26 by Deutsche Bank. The firm has “Outperform” rating given on Friday, January 29 by Credit Agricole. The firm earned “Buy” rating on Wednesday, January 11 by Societe Generale. The rating was maintained by CLSA with “Outperform” on Friday, September 23. The firm earned “Neutral” rating on Tuesday, April 4 by Citigroup. The stock of Bank of America Corp (NYSE:BAC) earned “Buy” rating by Vetr on Monday, August 24. Macquarie Research upgraded Bank of America Corp (NYSE:BAC) on Thursday, February 16 to “Outperform” rating. KBW upgraded the stock to “Outperform” rating in Monday, August 24 report. The stock of Bank of America Corp (NYSE:BAC) has “Hold” rating given on Wednesday, May 31 by BMO Capital Markets.

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