Bank Of America (BAC) Valuation Declined While Amg National Trust Bank Trimmed Stake by …



July 13, 2018 – By Mary Kidd

Bank of America Corporation (NYSE:BAC) Logo

Amg National Trust Bank decreased its stake in Bank Of America Corp (BAC) by 16.73% based on its latest 2018Q1 regulatory filing with the SEC. Amg National Trust Bank sold 37,397 shares as the company’s stock declined 6.97% with the market. The institutional investor held 186,082 shares of the major banks company at the end of 2018Q1, valued at $5.58M, down from 223,479 at the end of the previous reported quarter. Amg National Trust Bank who had been investing in Bank Of America Corp for a number of months, seems to be less bullish one the $288.73B market cap company. The stock decreased 1.02% or $0.29 during the last trading session, reaching $28.48. About 37.67M shares traded. Bank of America Corporation (NYSE:BAC) has risen 29.72% since July 13, 2017 and is uptrending. It has outperformed by 17.15% the S&P500. Some Historical BAC News: 19/03/2018 – Bank of America whistleblowers land $83m in awards; 14/05/2018 – Exact Sciences at Bank of America Conference Tomorrow; 14/05/2018 – Intuitive Surgical at Bank of America Conference Tomorrow; 16/04/2018 – Global Loan Issuance Down 18% in 2018, BofA Leads; 29/05/2018 – BANK OF AMERICA CORP BAC.N HEAD OF GLOBAL COMMERCIAL BANKING, ALASTAIR BORTHWICK, SPEAKS AT INVESTOR CONFERENCE; 11/04/2018 – NY Bizjournal: Banking Roundup: Wells Fargo faces big fine… BofA to halt lending to some gun makers; 03/05/2018 – BAYER COVESTRO SHARE SALE BOOKS COVERED, TO CLOSE TODAY: BAML; 14/05/2018 – The Morning Download: Bank of America Explores Ethics of AI; 06/03/2018 – Economy & Business: MOVES-Senior energy trader at Bank of America Merrill Lynch departs -sources – NEW YORK, March 6 (Reuters); 01/05/2018 – Bank of America: Houston Entrepreneurs Most Confident in Their Local Economy Among 10 Major American Cities

Underhill Investment Management Llc increased its stake in Brown Forman Inc Cl B (BF.B) by 24.66% based on its latest 2018Q1 regulatory filing with the SEC. Underhill Investment Management Llc bought 53,865 shares as the company’s stock 0.00% . The institutional investor held 272,335 shares of the company at the end of 2018Q1, valued at $14.82M, up from 218,470 at the end of the previous reported quarter. Underhill Investment Management Llc who had been investing in Brown Forman Inc Cl B for a number of months, seems to be bullish on the $24.75 billion market cap company. The stock increased 1.08% or $0.55 during the last trading session, reaching $51.34. About 169,136 shares traded. Brown-Forman Corporation (NYSE:BF.B) has risen 40.18% since July 13, 2017 and is uptrending. It has outperformed by 27.61% the S&P500. Some Historical BF.B News: 29/05/2018 – BROWN-FORMAN CORP – PAUL VARGA TO RETIRE; LAWSON WHITING NAMED INCOMING CEO AS OF JANUARY 1, 2019; 30/05/2018 – Brown-Forman CEO to retire at year’s end; 29/05/2018 – BROWN-FORMAN CORP – CHIEF EXECUTIVE OFFICER PAUL C. VARGA HAS DECIDED TO RETIRE; 07/03/2018 – BROWN-FORMAN – 2018 DILUTED EPS OUTLOOK INCLUDES $0.03 OF EXPENSE FROM TAX REFORM, $0.10 OF EXPENSE FROM ESTABLISHMENT OF FOUNDATION, AMONG OTHER; 07/03/2018 – RPT-BROWN-FORMAN CORP – REVISES FISCAL YEAR 2018 OUTLOOK; 07/03/2018 – Brown-Forman Sales Beat Expectations As American Whiskey Continues Rapid Growth — MarketWatch; 07/03/2018 – BROWN-FORMAN CORP – SEES 2018 UNDERLYING NET SALES GROWTH OF 6% TO 7%; 07/03/2018 – RPT-BROWN-FORMAN – 2018 DILUTED EPS OUTLOOK INCLUDES $0.03 OF EXPENSE FROM TAX REFORM, $0.10 OF EXPENSE FROM ESTABLISHMENT OF FOUNDATION, AMONG OTHER; 07/03/2018 – RPT-BROWN-FORMAN – SEES 2018 DILUTED EPS OF $1.43 TO $1.48; 07/03/2018 – RPT-BROWN-FORMAN REPORTS STRONG YEAR-TO-DATE RESULTS; OPERATING INCOME UP DOUBLE-DIGITS

More notable recent Bank of America Corporation (NYSE:BAC) news were published by: Seekingalpha.com which released: “Buybacks set for record, but share gains don’t match” on July 09, 2018, also Seekingalpha.com with their article: “How Bank Of America’s Growth Will Drive The Stock Higher” published on July 10, 2018, Finance.Yahoo.com published: “Bank of America Stock Looks Good on Paper, but That’s About It” on July 11, 2018. More interesting news about Bank of America Corporation (NYSE:BAC) were released by: Seekingalpha.com and their article: “Bank Of America: The Other Parts Matter” published on July 09, 2018 as well as Seekingalpha.com‘s news article titled: “Bank Of America: Downside Protection” with publication date: July 05, 2018.

Investors sentiment decreased to 0.95 in Q1 2018. Its down 0.24, from 1.19 in 2017Q4. It dived, as 73 investors sold BAC shares while 633 reduced holdings. 134 funds opened positions while 535 raised stakes. 6.66 billion shares or 2.67% less from 6.85 billion shares in 2017Q4 were reported. Advisory accumulated 9,948 shares. Cibc Mkts Incorporated has 0.28% invested in Bank of America Corporation (NYSE:BAC). Palladium Ptnrs Limited Com, a Virginia-based fund reported 428,233 shares. Hartford Investment Co has 1.89M shares. State Of Tennessee Treasury Department invested in 0.98% or 6.37 million shares. Torray Ltd Liability Company accumulated 760,491 shares or 2.37% of the stock. Boltwood Cap holds 9,352 shares. Wms Prtnrs Ltd Llc holds 27,395 shares or 0.1% of its portfolio. Osborne Prtn Mngmt Limited Liability has invested 0.12% in Bank of America Corporation (NYSE:BAC). Barnett & Co has invested 0.12% in Bank of America Corporation (NYSE:BAC). Old Natl Comml Bank In reported 357,908 shares or 0.57% of all its holdings. Gateway Advisory Ltd Com has invested 0.1% in Bank of America Corporation (NYSE:BAC). 155,400 are held by Andra Ap. Berkshire Hathaway reported 679.00 million shares. 1.06 million are owned by Gillespie Robinson And Grimm.

Amg National Trust Bank, which manages about $1.55B US Long portfolio, upped its stake in Molson Coors (NYSE:TAP) by 27,540 shares to 320,105 shares, valued at $24.11 million in 2018Q1, according to the filing. It also increased its holding in Ball Corp (NYSE:BLL) by 30,313 shares in the quarter, for a total of 800,802 shares, and has risen its stake in Cato Corp (NYSE:CATO).

Analysts await Bank of America Corporation (NYSE:BAC) to report earnings on July, 16 before the open. They expect $0.61 EPS, up 32.61% or $0.15 from last year’s $0.46 per share. BAC’s profit will be $6.18 billion for 11.67 P/E if the $0.61 EPS becomes a reality. After $0.62 actual EPS reported by Bank of America Corporation for the previous quarter, Wall Street now forecasts -1.61% negative EPS growth.

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

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