Regions Financial Position in Prudential Plc (PUK) Upped by $474,350 as Stock Price Rose; As Bank Of America (BAC) Share Value Declined, Cortland Advisers Has Decreased by $8.04 Million Its Position

May 23, 2018 - By Peter Erickson

Bank of America Corporation (NYSE:BAC) Logo

Cortland Advisers Llc decreased its stake in Bank Of America Corp (BAC) by 7.41% based on its latest 2017Q4 regulatory filing with the SEC. Cortland Advisers Llc sold 277,271 shares as the company’s stock declined 1.20% with the market. The institutional investor held 3.47 million shares of the major banks company at the end of 2017Q4, valued at $102.29 million, down from 3.74 million at the end of the previous reported quarter. Cortland Advisers Llc who had been investing in Bank Of America Corp for a number of months, seems to be less bullish one the $308.75B market cap company. The stock decreased 1.42% or $0.44 during the last trading session, reaching $30.45. About 66.52 million shares traded. Bank of America Corporation (NYSE:BAC) has risen 28.18% since May 23, 2017 and is uptrending. It has outperformed by 16.63% the S&P500.

Regions Financial Corp increased its stake in Prudential Plc (PUK) by 13.52% based on its latest 2017Q4 regulatory filing with the SEC. Regions Financial Corp bought 9,487 shares as the company’s stock rose 2.22% while stock markets declined. The institutional investor held 79,633 shares of the life insurance company at the end of 2017Q4, valued at $4.04 million, up from 70,146 at the end of the previous reported quarter. Regions Financial Corp who had been investing in Prudential Plc for a number of months, seems to be bullish on the $65.74 billion market cap company. The stock decreased 2.09% or $1.09 during the last trading session, reaching $51.17. About 212,602 shares traded or 14.93% up from the average. Prudential plc (NYSE:PUK) has risen 18.97% since May 23, 2017 and is uptrending. It has outperformed by 7.42% the S&P500.

Regions Financial Corp, which manages about $9.24B US Long portfolio, decreased its stake in Aflac Inc (NYSE:AFL) by 14,294 shares to 140,739 shares, valued at $12.35M in 2017Q4, according to the filing. It also reduced its holding in Union Pacific Corp (NYSE:UNP) by 10,186 shares in the quarter, leaving it with 217,250 shares, and cut its stake in Wintrust Financial Corp (NASDAQ:WTFC).

Among 5 analysts covering Prudential Plc (NYSE:PUK), 3 have Buy rating, 0 Sell and 2 Hold. Therefore 60% are positive. Prudential Plc had 8 analyst reports since January 15, 2016 according to SRatingsIntel. The rating was upgraded by Societe Generale on Wednesday, January 11 to “Hold”. The stock of Prudential plc (NYSE:PUK) has “Neutral” rating given on Friday, March 17 by JP Morgan. The stock of Prudential plc (NYSE:PUK) earned “Outperform” rating by Macquarie Research on Friday, January 15. The stock of Prudential plc (NYSE:PUK) has “Sell” rating given on Thursday, October 13 by Societe Generale. The stock of Prudential plc (NYSE:PUK) has “Buy” rating given on Friday, April 21 by Goldman Sachs. The stock of Prudential plc (NYSE:PUK) earned “Buy” rating by Berenberg on Tuesday, February 16. The rating was initiated by Macquarie Research with “Outperform” on Monday, January 18. The firm has “Hold” rating by Societe Generale given on Tuesday, May 31.

Analysts await Bank of America Corporation (NYSE:BAC) to report earnings on July, 17. They expect $0.64 EPS, up 39.13% or $0.18 from last year’s $0.46 per share. BAC’s profit will be $6.49B for 11.89 P/E if the $0.64 EPS becomes a reality. After $0.62 actual EPS reported by Bank of America Corporation for the previous quarter, Wall Street now forecasts 3.23% EPS growth.

Investors sentiment increased to 1.19 in Q4 2017. Its up 0.15, from 1.04 in 2017Q3. It improved, as 66 investors sold BAC shares while 561 reduced holdings. 162 funds opened positions while 585 raised stakes. 6.85 billion shares or 0.98% less from 6.91 billion shares in 2017Q3 were reported. Great West Life Assurance Can invested in 0.63% or 9.09 million shares. Wetherby Asset Mngmt owns 151,271 shares or 0.62% of their US portfolio. 14,785 were reported by Plante Moran Ltd Liability Corporation. Knightsbridge Asset Management Ltd holds 375,911 shares or 7.02% of its portfolio. Patten Group Inc Inc invested in 3,913 shares or 0.05% of the stock. Excalibur Corporation holds 0.88% in Bank of America Corporation (NYSE:BAC) or 35,445 shares. Ct Mason holds 3.54% or 341,000 shares. Franklin Street Nc reported 24,239 shares. Cranbrook Wealth Mgmt Limited Liability Company invested 0.01% in Bank of America Corporation (NYSE:BAC). Gulf Bancorp (Uk) stated it has 1.19% in Bank of America Corporation (NYSE:BAC). Bangor Bankshares invested in 14,242 shares. Harris Associates LP holds 4.21% of its portfolio in Bank of America Corporation (NYSE:BAC) for 87.08M shares. Auxier Asset Mngmt invested 1.99% in Bank of America Corporation (NYSE:BAC). Cadence Management has 0.18% invested in Bank of America Corporation (NYSE:BAC). Arrow Corp invested 0.81% in Bank of America Corporation (NYSE:BAC).

Among 33 analysts covering Bank of America (NYSE:BAC), 22 have Buy rating, 0 Sell and 11 Hold. Therefore 67% are positive. Bank of America had 114 analyst reports since July 21, 2015 according to SRatingsIntel. The company was maintained on Thursday, June 1 by Credit Suisse. The firm has “Buy” rating by Deutsche Bank given on Wednesday, August 12. As per Tuesday, August 11, the company rating was downgraded by Vetr. Renaissance Macro Securities LLC maintained Bank of America Corporation (NYSE:BAC) rating on Sunday, July 23. Renaissance Macro Securities LLC has “Buy” rating and $2900 target. The stock of Bank of America Corporation (NYSE:BAC) has “Buy” rating given on Monday, April 16 by Jefferies. Macquarie Research upgraded the shares of BAC in report on Thursday, February 16 to “Outperform” rating. The rating was upgraded by Robert W. Baird to “Buy” on Tuesday, September 1. The stock of Bank of America Corporation (NYSE:BAC) earned “Equal Weight” rating by Barclays Capital on Tuesday, January 3. The firm earned “Buy” rating on Tuesday, September 1 by Bernstein. The firm has “Hold” rating given on Thursday, December 1 by Standpoint Research.

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

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