Ing Groep Nv Has Trimmed Its Holding in Bank Of America Corporation (BAC) by $92.17 Million as Shares Declined

July 26, 2017 - By Marguerite Chambers

Investors sentiment increased to 1.1 in Q4 2016. Its up 0.09, from 1.01 in 2016Q3. It increased, 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. Synovus Corporation invested 0.16% in Bank of America Corp (NYSE:BAC). 1.01 million were accumulated by Capwealth Advsr Limited. Keybank Natl Association Oh invested in 465,839 shares or 0.06% of the stock. Cutler Mgmt Ltd Liability Corporation holds 0.27% of its portfolio in Bank of America Corp (NYSE:BAC) for 26,000 shares. Sterling Capital Ltd reported 912,840 shares stake. Kanaly Com has invested 0.04% in Bank of America Corp (NYSE:BAC). Retirement Of Alabama reported 1.11% stake. Strategy Asset Managers Limited Liability Company has 0.16% invested in Bank of America Corp (NYSE:BAC). Bokf Na holds 291,976 shares. Burt Wealth Advsrs accumulated 7,236 shares. Connecticut-based Bridgewater Associate Ltd Partnership has invested 0.07% in Bank of America Corp (NYSE:BAC). Ruggie Cap holds 2,075 shares or 0.05% of its portfolio. Park Natl Oh owns 834,899 shares. Golub Gp Limited Co reported 846,339 shares. Moreover, Pittenger & Anderson has 0% invested in Bank of America Corp (NYSE:BAC).

Ing Groep Nv decreased its stake in Bank Of America Corporation (BAC) by 9.23% based on its latest 2016Q4 regulatory filing with the SEC. Ing Groep Nv sold 4.39 million shares as the company’s stock declined 6.00% while stock markets rallied. The institutional investor held 43.17M shares of the major banks company at the end of 2016Q4, valued at $949.81 million, down from 47.56 million at the end of the previous reported quarter. Ing Groep Nv who had been investing in Bank Of America Corporation for a number of months, seems to be less bullish one the $244.75 billion market cap company. The stock increased 2.38% or $0.57 during the last trading session, reaching $24.48. About 244 shares traded. Bank of America Corp (NYSE:BAC) has risen 58.64% since July 26, 2016 and is uptrending. It has outperformed by 41.94% the S&P500.

Ing Groep Nv, which manages about $5.88B and $5.33B US Long portfolio, upped its stake in Cvs Caremark Corporation (NYSE:CVS) by 62,405 shares to 69,297 shares, valued at $5.47M in 2016Q4, according to the filing. It also increased its holding in 3M Co (NYSE:MMM) by 55,646 shares in the quarter, for a total of 234,862 shares, and has risen its stake in Morgan Stanley (NYSE:MS).

More notable recent Bank of America Corp (NYSE:BAC) news were published by: Investorplace.com which released: “Buy Bank of America Corp (BAC) Stock as Banks Make Their Move” on July 25, 2017, also Wsj.com with their article: “HNA Group Questions Bank of America’s Stance on Working With the Company” published on July 24, 2017, Usnews.com published: “Buffett Snags Bank of America (BAC) Stock at 70 Percent Discount” on June 30, 2017. More interesting news about Bank of America Corp (NYSE:BAC) were released by: Reuters.com and their article: “Buffett’s company to become Bank of America’s top shareholder” published on June 30, 2017 as well as Reuters.com‘s news article titled: “Bank of America profit rises as consumer bank hits profit ‘milestone'” with publication date: July 18, 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 $2900 highest and $15 lowest target. $21.90’s average target is -10.54% below currents $24.48 stock price. Bank of America had 73 analyst reports since July 21, 2015 according to SRatingsIntel. The firm has “Market Perform” rating by Wood given on Monday, May 16. The rating was maintained by RBC Capital Markets with “Buy” on Tuesday, July 18. The firm earned “Neutral” rating on Wednesday, November 16 by Robert W. Baird. Atlantic Securities upgraded the shares of BAC in report on Wednesday, December 21 to “Overweight” rating. The firm earned “Hold” rating on Thursday, December 1 by Standpoint Research. On Saturday, September 5 the stock rating was maintained by Oppenheimer with “Outperform”. KBW upgraded the shares of BAC in report on Tuesday, September 1 to “Buy” rating. The stock of Bank of America Corp (NYSE:BAC) has “Buy” rating given on Wednesday, July 13 by Berenberg. Macquarie Research upgraded the stock to “Outperform” rating in Thursday, February 16 report. The stock of Bank of America Corp (NYSE:BAC) earned “Buy” rating by Jefferies on Friday, July 7.

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