Bank Of America (BAC) Stock Price Declined While World Asset Management Lowered Position by …

//Bank Of America (BAC) Stock Price Declined While World Asset Management Lowered Position by …

Bank Of America (BAC) Stock Price Declined While World Asset Management Lowered Position by …

January 20, 2018 – By Vivian Park

World Asset Management Inc decreased its stake in Bank Of America Corp (BAC) by 2.43% based on its latest 2017Q3 regulatory filing with the SEC. World Asset Management Inc sold 21,645 shares as the company’s stock declined 6.00% while stock markets rallied. The institutional investor held 869,253 shares of the major banks company at the end of 2017Q3, valued at $22.03M, down from 890,898 at the end of the previous reported quarter. World Asset Management Inc who had been investing in Bank Of America Corp for a number of months, seems to be less bullish one the $330.86 billion market cap company. The stock increased 0.76% or $0.24 during the last trading session, reaching $31.72. About 66.49 million shares traded. Bank of America Corporation (NYSE:BAC) has risen 58.64% since January 20, 2017 and is uptrending. It has outperformed by 41.94% the S&P500.

Synovus Financial Corp decreased its stake in Rite Aid Corp (RAD) by 95.02% based on its latest 2017Q3 regulatory filing with the SEC. Synovus Financial Corp sold 238,523 shares as the company’s stock declined 41.75% while stock markets rallied. The institutional investor held 12,500 shares of the medical and nursing services company at the end of 2017Q3, valued at $25,000, down from 251,023 at the end of the previous reported quarter. Synovus Financial Corp who had been investing in Rite Aid Corp for a number of months, seems to be less bullish one the $2.43 billion market cap company. It closed at $2.31 lastly. It is down 55.18% since January 20, 2017 and is downtrending. It has underperformed by 71.88% the S&P500.

Among 32 analysts covering Bank of America (NYSE:BAC), 21 have Buy rating, 0 Sell and 11 Hold. Therefore 66% are positive. Bank of America had 104 analyst reports since July 21, 2015 according to SRatingsIntel. As per Tuesday, September 8, the company rating was upgraded by Nomura. Deutsche Bank downgraded it to “Hold” rating and $17 target in Tuesday, November 8 report. The rating was upgraded by Bernstein on Tuesday, September 1 to “Buy”. The stock has “Buy” rating by KBW on Tuesday, September 1. Citigroup downgraded the stock to “Neutral” rating in Tuesday, April 4 report. The stock of Bank of America Corporation (NYSE:BAC) earned “Hold” rating by Standpoint Research on Thursday, December 1. The stock has “Hold” rating by Robert W. Baird on Tuesday, October 31. The firm earned “Hold” rating on Friday, August 25 by Robert W. Baird. The firm has “Market Perform” rating by Keefe Bruyette & Woods given on Monday, May 16. RBC Capital Markets maintained the stock with “Buy” rating in Wednesday, December 6 report.

World Asset Management Inc, which manages about $17.12B and $3.02 billion US Long portfolio, upped its stake in Mgm Resorts International Com (NYSE:MGM) by 25,775 shares to 45,421 shares, valued at $1.48M in 2017Q3, according to the filing. It also increased its holding in Credit Suisse Group Ag Sponsor (NYSE:CS) by 27,015 shares in the quarter, for a total of 150,105 shares, and has risen its stake in Digital Rlty Tr Inc Com (NYSE:DLR).

Since August 10, 2017, it had 0 insider buys, and 1 sale for $2.10 million activity.

Investors sentiment decreased to 1.04 in 2017 Q3. Its down 0.08, from 1.12 in 2017Q2. It dived, as 68 investors sold BAC shares while 569 reduced holdings. 117 funds opened positions while 547 raised stakes. 6.91 billion shares or 9.01% more from 6.34 billion shares in 2017Q2 were reported. First Bancorporation & Tru Communication Of Newtown owns 46,783 shares or 0.33% of their US portfolio. Horan Lc accumulated 239 shares. Segall Bryant Hamill Limited Com has 41,057 shares for 0.02% of their portfolio. Quantum Cap Mngmt Limited Liability Corporation Nj holds 0% or 52 shares. South State holds 1.08% or 380,927 shares. Mendon Advsr owns 450,600 shares. Moreover, Schroder Inv Mngmt Group has 0.47% invested in Bank of America Corporation (NYSE:BAC) for 10.62 million shares. 1St Source Bancorporation owns 0.17% invested in Bank of America Corporation (NYSE:BAC) for 81,124 shares. Mitsubishi Ufj Tru Bk holds 0.97% or 20.70M shares. Eastern Bank owns 867,091 shares for 1.56% of their portfolio. Fiera Capital Corp stated it has 0.03% of its portfolio in Bank of America Corporation (NYSE:BAC). Menora Mivtachim has 2.61M shares. Homrich Berg reported 28,130 shares stake. Canandaigua State Bank Trust invested 0.46% of its portfolio in Bank of America Corporation (NYSE:BAC). Riverhead Cap Mgmt Lc reported 283,536 shares.

Among 14 analysts covering Rite Aid (NYSE:RAD), 2 have Buy rating, 2 Sell and 10 Hold. Therefore 14% are positive. Rite Aid had 24 analyst reports since August 6, 2015 according to SRatingsIntel. The company was reinitiated on Friday, June 30 by Bank of America. The company was downgraded on Thursday, October 29 by Credit Suisse. As per Wednesday, August 19, the company rating was upgraded by Vetr. On Friday, October 6 the stock rating was maintained by Mizuho with “Neutral”. The firm earned “Neutral” rating on Wednesday, April 26 by Guggenheim. The rating was maintained by Loop Capital with “Hold” on Friday, September 29. As per Wednesday, October 25, the company rating was maintained by RBC Capital Markets. The rating was downgraded by JP Morgan to “Neutral” on Friday, November 13. The firm has “Buy” rating by Vetr given on Thursday, August 6. Evercore downgraded Rite Aid Corporation (NYSE:RAD) on Wednesday, January 6 to “Hold” rating.

Investors sentiment increased to 0.97 in Q3 2017. Its up 0.19, from 0.78 in 2017Q2. It is positive, as 57 investors sold RAD shares while 77 reduced holdings. 43 funds opened positions while 87 raised stakes. 513.41 million shares or 4.79% less from 539.25 million shares in 2017Q2 were reported. Cibc Asset Mgmt holds 0% or 35,417 shares in its portfolio. Dupont Mgmt has invested 0% of its portfolio in Rite Aid Corporation (NYSE:RAD). Public Employees Retirement Association Of Colorado holds 0% or 204,823 shares in its portfolio. Moreover, Ibm Retirement Fund has 0.01% invested in Rite Aid Corporation (NYSE:RAD). Wells Fargo And Com Mn stated it has 0% in Rite Aid Corporation (NYSE:RAD). Yakira Cap Mgmt invested in 0.35% or 537,946 shares. Kbc Gp Nv owns 98,593 shares. Ruggie Group invested 0% in Rite Aid Corporation (NYSE:RAD). Amalgamated National Bank holds 0.01% or 194,191 shares in its portfolio. Blackrock has 41.79M shares. Supplemental Annuity Collective Of Nj accumulated 0.12% or 140,000 shares. Hudson Bay Capital Management Limited Partnership holds 0.07% or 1.48 million shares in its portfolio. Bb&T Securities Lc has 0% invested in Rite Aid Corporation (NYSE:RAD). Pentwater Lp accumulated 1.01 million shares. Moreover, Pnc Services Group Inc has 0% invested in Rite Aid Corporation (NYSE:RAD).

Since October 3, 2017, it had 0 insider buys, and 1 insider sale for $58,915 activity.

Synovus Financial Corp, which manages about $5.26B US Long portfolio, upped its stake in Pepsico Inc (NYSE:PEP) by 11,599 shares to 186,002 shares, valued at $20.73M in 2017Q3, according to the filing. It also increased its holding in Hudson Pac Pptys Inc (NYSE:HPP) by 15,175 shares in the quarter, for a total of 34,304 shares, and has risen its stake in Ishares Tr (TLT).

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2018-01-20T11:45:00+00:00