Bank of America Corp (BAC) is Moody Lynn & Lieberson LLC’s 2nd Largest Position

Moody Lynn & Lieberson LLC boosted its stake in Bank of America Corp (NYSE:BAC) by 23.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 987,027 shares of the financial services provider’s stock after purchasing an additional 187,092 shares during the period. Bank of America comprises approximately 3.0% of Moody Lynn & Lieberson LLC’s portfolio, making the stock its 2nd largest position. Moody Lynn & Lieberson LLC’s holdings in Bank of America were worth $25,011,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of BAC. Gateway Advisory LLC grew its stake in shares of Bank of America by 0.4% in the second quarter. Gateway Advisory LLC now owns 10,053 shares of the financial services provider’s stock worth $244,000 after acquiring an additional 45 shares in the last quarter. Arbor Investment Advisors LLC grew its stake in shares of Bank of America by 0.3% in the second quarter. Arbor Investment Advisors LLC now owns 14,328 shares of the financial services provider’s stock worth $348,000 after acquiring an additional 46 shares in the last quarter. Lbmc Investment Advisors LLC grew its stake in shares of Bank of America by 0.3% in the second quarter. Lbmc Investment Advisors LLC now owns 16,851 shares of the financial services provider’s stock worth $409,000 after acquiring an additional 51 shares in the last quarter. TCI Wealth Advisors Inc. grew its stake in shares of Bank of America by 0.4% in the second quarter. TCI Wealth Advisors Inc. now owns 14,402 shares of the financial services provider’s stock worth $349,000 after acquiring an additional 54 shares in the last quarter. Finally, Altavista Wealth Management Inc. grew its stake in shares of Bank of America by 0.7% in the second quarter. Altavista Wealth Management Inc. now owns 10,199 shares of the financial services provider’s stock worth $247,000 after acquiring an additional 68 shares in the last quarter. Hedge funds and other institutional investors own 68.43% of the company’s stock.

Several research firms have commented on BAC. Societe Generale downgraded shares of Bank of America from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. Vetr downgraded shares of Bank of America from a “strong-buy” rating to a “buy” rating and set a $33.89 price target for the company. in a research note on Wednesday. BMO Capital Markets restated a “hold” rating and issued a $31.00 price target on shares of Bank of America in a research note on Monday, January 8th. Zacks Investment Research upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research note on Tuesday, January 2nd. Finally, Instinet dropped their price target on shares of Bank of America from $37.00 to $30.00 in a research note on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. Bank of America currently has an average rating of “Buy” and a consensus price target of $29.14.

Shares of Bank of America Corp (NYSE:BAC) opened at $31.19 on Friday. The stock has a market cap of $325,330.00, a price-to-earnings ratio of 18.13, a PEG ratio of 1.70 and a beta of 1.32. Bank of America Corp has a 1 year low of $22.01 and a 1 year high of $31.20. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.90 and a current ratio of 0.91.

Bank of America (NYSE:BAC) last announced its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. Bank of America had a net margin of 20.66% and a return on equity of 8.33%. The firm had revenue of $22.08 billion during the quarter, compared to analysts’ expectations of $22.07 billion. During the same period in the previous year, the company earned $0.41 earnings per share. Bank of America’s quarterly revenue was up 2.1% compared to the same quarter last year. research analysts anticipate that Bank of America Corp will post 1.79 earnings per share for the current year.

Bank of America announced that its Board of Directors has authorized a share repurchase plan on Tuesday, December 5th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

The business also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 1st were given a $0.12 dividend. The ex-dividend date was Thursday, November 30th. This represents a $0.48 dividend on an annualized basis and a yield of 1.54%. Bank of America’s dividend payout ratio (DPR) is presently 27.91%.

WARNING: “Bank of America Corp (BAC) is Moody Lynn & Lieberson LLC’s 2nd Largest Position” was first published by The Lincolnian Online and is the property of of The Lincolnian Online. If you are viewing this piece on another publication, it was copied illegally and reposted in violation of U.S. and international trademark & copyright legislation. The original version of this piece can be read at https://www.thelincolnianonline.com/2018/01/14/bank-of-america-corp-bac-is-moody-lynn-lieberson-llcs-2nd-largest-position.html.

Bank of America Company Profile

Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers and others with a range of banking, investing, asset management and other financial and risk management products and services. The Company, through its banking and various non-bank subsidiaries, throughout the United States and in international markets, provides a range of banking and non-bank financial services and products through four business segments: Consumer Banking, which comprises Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S.

Want to see what other hedge funds are holding BAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of America Corp (NYSE:BAC).

Institutional Ownership by Quarter for Bank of America (NYSE:BAC)

Receive News & Ratings for Bank of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of America and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply