Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Bank of America Co. (NYSE:BAC – Free Report) by 3.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 56,373 shares of the financial services provider’s stock after buying an additional 1,974 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Bank of America were worth $1,543,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Fort Sheridan Advisors LLC raised its stake in Bank of America by 0.8% during the 4th quarter. Fort Sheridan Advisors LLC now owns 39,526 shares of the financial services provider’s stock worth $1,309,000 after buying an additional 303 shares during the period. Horizon Wealth Management LLC grew its holdings in shares of Bank of America by 1.1% in the 2nd quarter. Horizon Wealth Management LLC now owns 28,347 shares of the financial services provider’s stock valued at $813,000 after acquiring an additional 318 shares in the last quarter. Global Trust Asset Management LLC grew its holdings in shares of Bank of America by 45.7% in the 2nd quarter. Global Trust Asset Management LLC now owns 1,036 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 325 shares in the last quarter. Godsey & Gibb Inc. grew its holdings in Bank of America by 7.9% during the second quarter. Godsey & Gibb Inc. now owns 4,508 shares of the financial services provider’s stock worth $129,000 after purchasing an additional 330 shares during the period. Finally, BHK Investment Advisors LLC grew its holdings in Bank of America by 2.4% during the second quarter. BHK Investment Advisors LLC now owns 14,140 shares of the financial services provider’s stock worth $406,000 after purchasing an additional 333 shares during the period. 68.06% of the stock is currently owned by institutional investors.
Bank of America Stock Up 0.2 %
Shares of BAC traded up $0.06 on Thursday, reaching $33.90. The company’s stock had a trading volume of 12,211,785 shares, compared to its average volume of 48,317,531. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.12. Bank of America Co. has a twelve month low of $24.96 and a twelve month high of $37.00. The stock has a market capitalization of $268.28 billion, a PE ratio of 9.51, a PEG ratio of 1.42 and a beta of 1.40. The firm has a fifty day moving average of $29.66 and a 200-day moving average of $29.25.
Bank of America (NYSE:BAC – Get Free Report) last announced its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.07. Bank of America had a net margin of 18.69% and a return on equity of 12.08%. The company had revenue of $25.20 billion for the quarter, compared to analysts’ expectations of $25.13 billion. During the same period in the prior year, the company posted $0.81 EPS. Bank of America’s revenue was up 2.8% compared to the same quarter last year. Equities analysts predict that Bank of America Co. will post 3.41 EPS for the current year.
Bank of America Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date is Thursday, November 30th. Bank of America’s payout ratio is 26.89%.
Analysts Set New Price Targets
BAC has been the subject of a number of research analyst reports. Jefferies Financial Group reduced their price target on Bank of America from $31.00 to $28.00 in a report on Tuesday, October 10th. Keefe, Bruyette & Woods upgraded Bank of America from an “underperform” rating to a “market perform” rating and boosted their price objective for the stock from $29.00 to $30.00 in a report on Monday, November 6th. BMO Capital Markets boosted their price objective on Bank of America from $39.00 to $40.00 and gave the stock a “market perform” rating in a report on Wednesday, October 18th. Royal Bank of Canada restated an “outperform” rating and set a $35.00 price objective on shares of Bank of America in a report on Tuesday, September 12th. Finally, Evercore ISI cut their price target on shares of Bank of America from $35.00 to $33.00 in a report on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $35.58.
View Our Latest Report on BAC
Insider Activity
In other news, major shareholder Of America Corp /De/ Bank sold 17,769 shares of Bank of America stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $9.94, for a total transaction of $176,623.86. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.27% of the company’s stock.
Bank of America Profile
(Free Report)
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. Its Consumer Banking segment offers traditional and money market savings accounts, certificates of deposit and IRAs, noninterest-and interest-bearing checking accounts, and investment accounts and products; and credit and debit cards, residential mortgages, and home equity loans, as well as direct and indirect loans, such as automotive, recreational vehicle, and consumer personal loans.
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