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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 2018 92 975 M
EBIT 2018 38 133 M
Net income 2018 26 038 M
Debt 2018 -
Yield 2018 1,94%
P/E ratio 2018 12,09
P/E ratio 2019 10,48
Capi. / Sales 2018 3,30x
Capi. / Sales 2019 3,15x
Capitalization 307 B
Chart BANK OF AMERICA
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Bank of America Technical Analysis Chart | BAC | US0605051046 | 4-Traders
Technical analysis trends BANK OF AMERICA
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 31
Average target price 34,3 $
Spread / Average Target 12%
EPS Revisions
Managers
NameTitle
Brian T. Moynihan Chairman, President & Chief Executive Officer
Catherine P. Bessant Co-COO & Chief Technology Officer
Thomas Kell Montag Co-Chief Operating Officer
Paul M. Donofrio Chief Financial Officer
Thomas J. May Independent Director
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