2 weeks Ago By ABMN Staff
Ascent Group LLC raised its position in Bank of America Co. ( NYSE:BAC ) by 4.2% in the 2nd quarter, HoldingsChannel reports.
The fund owned 111,551 shares of the financial services provider’s stock after purchasing an additional 4,494 shares during the period. Ascent Group LLC’s holdings in Bank of America were worth $4,436,000 as of its most recent filing with the Securities & Exchange Commission. A number of other hedge funds also recently modified their holdings of BAC.
McAdam LLC lifted its position in shares of Bank of America by 2.1% in the second quarter. McAdam LLC now owns 11,434 shares of the financial services provider’s stock worth $455,000 after purchasing an additional 238 shares in the last quarter.
BTC Capital Management Inc. lifted its position in Bank of America by 1.2% during the 2nd quarter.
BTC Capital Management Inc. now owns 20,248 shares of the financial services provider’s stock worth $805,000 after buying an additional 248 shares in the last quarter. Central Bank & Trust Co.
boosted its stake in shares of Bank of America by 15.1% during the 2nd quarter. Central Bank & Trust Co.
now owns 1,892 shares of the financial services provider’s stock worth $75,000 after buying an additional 248 shares during the last quarter. SNS Financial Group LLC grew its holdings in shares of Bank of America by 3.3% in the 2nd quarter.
SNS Financial Group LLC now owns 7,783 shares of the financial services provider’s stock valued at $310,000 after acquiring an additional 248 shares in the last quarter. Finally, Verdence Capital Advisors LLC increased its position in shares of Bank of America by 0.3% in the second quarter.
Verdence Capital Advisors LLC now owns 94,081 shares of the financial services provider’s stock valued at $3,742,000 after acquiring an additional 251 shares during the last quarter. Institutional investors own 70.71% of the company’s stock.
Bank of America Stock Down 0.3 % BAC stock opened at $39.40 on Friday.
The business’s fifty day moving average price is $39.62 and its two-hundred day moving average price is $39.02.
The stock has a market capitalization of $308.12 billion, a price-to-earnings ratio of 13.63, a PEG ratio of 1.
37 and a beta of 1.33. Bank of America Co.
has a fifty-two week low of $24.96 and a fifty-two week high of $44.44.
The company has a debt-to-equity ratio of 1.09, a current ratio of 0.80 and a quick ratio of 0.
80. Bank of America declared that its board has approved a share repurchase program on Wednesday, July 24th that allows the company to buyback $25.00 billion in shares.
This buyback authorization allows the financial services provider to buy up to 7.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.
Bank of America Increases Dividend The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 6th were paid a $0.26 dividend.
This is a boost from Bank of America’s previous quarterly dividend of $0.24. This represents a $1.
04 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend was Friday, September 6th.
Bank of America’s payout ratio is 35.99%. Insider Buying and Selling In other Bank of America news, major shareholder Berkshire Hathaway Inc sold 12,291,807 shares of Bank of America stock in a transaction on Friday, July 19th.
The stock was sold at an average price of $43.13, for a total value of $530,145,635.91.
Following the completion of the transaction, the insider now directly owns 998,961,079 shares of the company’s stock, valued at approximately $43,085,191,337.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink .
In other Bank of America news, major shareholder Berkshire Hathaway Inc sold 12,291,807 shares of the firm’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $43.13, for a total value of $530,145,635.
91. Following the transaction, the insider now directly owns 998,961,079 shares of the company’s stock, valued at approximately $43,085,191,337.27.
The transaction was disclosed in a legal filing with the SEC, which is available through this link . Also, insider Bernard A. Mensah sold 92,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th.
The stock was sold at an average price of $39.80, for a total transaction of $3,661,600.00.
Following the sale, the insider now directly owns 96,082 shares of the company’s stock, valued at approximately $3,824,063.60. The disclosure for this sale can be found here .
Insiders have sold 140,942,405 shares of company stock valued at $5,785,202,516 over the last 90 days. 0.29% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth BAC has been the subject of a number of analyst reports. Royal Bank of Canada raised their price target on Bank of America from $39.00 to $46.
00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. Piper Sandler Companies upgraded shares of Bank of America from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $37.00 to $42.
00 in a report on Tuesday, July 9th. Piper Sandler upgraded shares of Bank of America from an “underweight” rating to a “neutral” rating and increased their price target for the company from $37.00 to $42.
00 in a research note on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research note on Tuesday, September 3rd.
Finally, BMO Capital Markets raised their target price on shares of Bank of America from $38.00 to $40.00 and gave the company a “market perform” rating in a research note on Thursday, July 18th.
One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.
22. Get Our Latest Analysis on Bank of America Bank of America Company 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. It operates in four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.
Recommended Stories 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 Co. ( NYSE:BAC – Free Report ).
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