Barrow Hanley Mewhinney & Strauss Reduces $15M in Bank of America Corporation ($BAC)
Key Points
- Barrow Hanley Mewhinney & Strauss changed its Bank of America Corporation ($BAC) stake by 2.4% last quarter, cutting to 11,229,035 shares worth $619.39 million.
- Wall Street's consensus rating on $BAC is Strong Buy and an average price target of $63.16.
- $BAC last traded around $55.16.
Barrow Hanley Mewhinney & Strauss trimmed its position in Bank of America Corporation ($BAC) by 2.4% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,229,035 shares of Bank of America Corporation after selling 273,016 shares during the quarter. Barrow Hanley Mewhinney & Strauss's holdings in Bank of America Corporation were worth $619.39 million as of its most recent filing.
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About Bank of America Corporation
Bank of America Corporation, through its subsidiaries, provides various financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. It operates through four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets. The Consumer Banking segment offers traditional and money market savings accounts, certificates of deposit and IRAs, checking accounts, and investment accounts and products; credit and debit cards; residential mortgages and home equity loans; and direct and indirect loans. The GWIM segment provides investment management, brokerage, banking, and trust and retirement products and services; wealth management solutions; and customized solutions, including specialty asset management services. The Global Banking segment offers lending products and services, including commercial loans, leases, commitment facilities, trade finance, and commercial real estate and asset-based lending; treasury solutions, and underwriting and advisory services. The Global Markets segment provides market-making, financing, securities clearing, settlement, and custody services; securities and derivative products; and risk management products using interest rate, equity, credit, currency and commodity derivatives, foreign exchange, fixed-income, and mortgage-related products. Bank of America Corporation was founded in 1784 and is based in Charlotte, North Carolina.
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