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Bank of America Corp : Qatar's Sovereign Fund Has Bank of America Stake Worth About $1 Billion -FT

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10/31/2013 | 12:27am CEST

Qatar's sovereign wealth fund, the Qatar Investment Authority, owns Bank of America Corp. (BAC) shares worth about $1 billion, the Financial Times reported Wednesday.

The fund's Qatar Holding arm began buying shares about two years ago and bought more last year when the stock price was in the $7 to $8 range, the FT reported, citing a person close to the fund.

Bank of America shares closed Wednesday at $14.17, up 2 cents.

The FT report noted that the stake, which represents less than a 1% interest, falls below the 5% level that would require disclosure under U.S. regulations.

Full story at: www.ft.com

Write to [email protected]

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Financials ($)
Sales 2017 89 466 M
EBIT 2017 33 981 M
Net income 2017 19 686 M
Debt 2017 -
Yield 2017 1,63%
P/E ratio 2017 12,72
P/E ratio 2018 10,80
Capi. / Sales 2017 2,60x
Capi. / Sales 2018 2,49x
Capitalization 232 775 M
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Mean consensus OUTPERFORM
Number of Analysts 33
Average target price 25,8 $
Spread / Average Target 10%
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NameTitle
Brian T. Moynihan Chairman, President & Chief Executive Officer
Catherine P. Bessant Co-COO & Chief Technology Officer
Tom Montag Co-Chief Operating Officer
Paul M. Donofrio Chief Financial Officer
Thomas J. May Independent Director
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