Golub Group LLC grew its holdings in Bank of America Corp (NYSE:BAC) by 0.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 673,847 shares of the financial services provider’s stock after acquiring an additional 1,633 shares during the period. Golub Group LLC’s holdings in Bank of America were worth $19,656,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in BAC. Garrett Wealth Advisory Group LLC purchased a new position in shares of Bank of America in the third quarter valued at about $25,000. Larson Financial Group LLC increased its holdings in shares of Bank of America by 195.6% in the third quarter. Larson Financial Group LLC now owns 1,330 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 880 shares during the last quarter. Salomon & Ludwin LLC increased its holdings in shares of Bank of America by 120.6% in the second quarter. Salomon & Ludwin LLC now owns 1,489 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 814 shares during the last quarter. Selective Wealth Management Inc. bought a new stake in shares of Bank of America in the third quarter worth about $43,000. Finally, WealthStone Inc. bought a new stake in shares of Bank of America in the second quarter worth about $49,000. Institutional investors and hedge funds own 70.75% of the company’s stock.
Several brokerages have recently issued reports on BAC. Raymond James cut Bank of America from an “outperform” rating to a “market perform” rating in a report on Thursday, August 29th. Atlantic Securities raised Bank of America from a “neutral” rating to an “overweight” rating in a report on Tuesday, October 22nd. Societe Generale cut Bank of America from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. DZ Bank raised Bank of America from a “sell” rating to a “hold” rating in a report on Friday, August 16th. Finally, ValuEngine raised Bank of America from a “sell” rating to a “hold” rating in a report on Friday. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $32.59.
In other Bank of America news, Director Frank P. Bramble sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $31.33, for a total transaction of $203,645.00. Following the sale, the director now directly owns 50,000 shares of the company’s stock, valued at $1,566,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Of America Corp /De/ Bank sold 5,370 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $11.78, for a total value of $63,258.60. The disclosure for this sale can be found here. Insiders have sold 51,870 shares of company stock worth $1,476,104 over the last three months. 0.17% of the stock is currently owned by insiders.
NYSE BAC traded up $0.03 during trading hours on Friday, hitting $33.26. 38,313,549 shares of the company were exchanged, compared to its average volume of 56,181,609. The stock has a 50-day moving average price of $30.19 and a 200 day moving average price of $29.06. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.99. Bank of America Corp has a 52 week low of $22.66 and a 52 week high of $33.60. The stock has a market cap of $299.18 billion, a PE ratio of 12.74, a price-to-earnings-growth ratio of 1.27 and a beta of 1.62.
Bank of America (NYSE:BAC) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.07. Bank of America had a return on equity of 12.05% and a net margin of 24.16%. The company had revenue of $22.96 billion for the quarter, compared to analysts’ expectations of $22.73 billion. During the same period in the previous year, the firm posted $0.66 earnings per share. The firm’s revenue for the quarter was up .3% on a year-over-year basis. As a group, sell-side analysts anticipate that Bank of America Corp will post 2.89 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.72 annualized dividend and a yield of 2.16%. Bank of America’s payout ratio is currently 27.59%.
Bank of America Profile
Bank of America Corporation, through its subsidiaries, provides banking and 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.
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