2 weeks Ago By Defense World Staff
B. Riley Wealth Advisors Inc. trimmed its position in Bank of America Co.
( NYSE:BAC – Free Report ) by 11.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 228,168 shares of the financial services provider’s stock after selling 28,747 shares during the quarter.
B. Riley Wealth Advisors Inc.’s holdings in Bank of America were worth $9,075,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of BAC. Delos Wealth Advisors LLC raised its stake in shares of Bank of America by 402.2% in the first quarter.
Delos Wealth Advisors LLC now owns 683 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 547 shares in the last quarter. Fairway Wealth LLC acquired a new position in shares of Bank of America in the second quarter valued at $27,000. Livelsberger Financial Advisory acquired a new position in shares of Bank of America in the fourth quarter valued at $28,000.
POM Investment Strategies LLC raised its stake in shares of Bank of America by 839.0% in the second quarter. POM Investment Strategies LLC now owns 723 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 646 shares in the last quarter.
Finally, Bbjs Financial Advisors LLC acquired a new position in shares of Bank of America in the second quarter valued at $30,000. 70.71% of the stock is currently owned by institutional investors and hedge funds.
Bank of America Trading Down 0.3 % NYSE:BAC opened at $39.40 on Monday.
The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.
09. Bank of America Co. has a twelve month low of $24.
96 and a twelve month high of $44.44. The company has a market cap of $308.
12 billion, a P/E ratio of 13.63, a price-to-earnings-growth ratio of 1.37 and a beta of 1.
33. The business has a 50 day moving average price of $39.62 and a two-hundred day moving average price of $39.
04. Bank of America declared that its Board of Directors has approved a stock repurchase plan on Wednesday, July 24th that permits the company to repurchase $25.00 billion in shares.
This repurchase authorization permits the financial services provider to purchase up to 7.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
Bank of America Increases Dividend The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 6th were issued a dividend of $0.26 per share.
This represents a $1.04 dividend on an annualized basis and a yield of 2.64%.
This is an increase from Bank of America’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, September 6th.
Bank of America’s payout ratio is presently 35.99%. Insiders Place Their Bets In other news, insider Lindsay D.
Hans sold 10,901 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $36.91, for a total value of $402,355.
91. Following the sale, the insider now directly owns 10,907 shares of the company’s stock, valued at approximately $402,577.37.
The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website . In other Bank of America news, major shareholder Berkshire Hathaway Inc sold 12,690,693 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $44.
07, for a total value of $559,278,840.51. Following the transaction, the insider now directly owns 1,020,161,313 shares of the company’s stock, valued at approximately $44,958,509,063.
91. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink . Also, insider Lindsay D.
Hans sold 10,901 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $36.91, for a total transaction of $402,355.
91. Following the transaction, the insider now owns 10,907 shares in the company, valued at approximately $402,577.37.
The disclosure for this sale can be found here . Over the last three months, insiders have sold 140,942,405 shares of company stock valued at $5,785,202,516. 0.
29% of the stock is currently owned by corporate insiders. Analysts Set New Price Targets Several research analysts have issued reports on the company. Seaport Res Ptn upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 2nd.
Evercore ISI increased their price objective on Bank of America from $43.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 17th.
Piper Sandler upgraded Bank of America from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $37.00 to $42.00 in a research note on Tuesday, July 9th.
StockNews.com upgraded Bank of America from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, Barclays increased their target price on Bank of America from $43.
00 to $49.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock.
Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $42.22.
Check Out 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. Featured Articles Five stocks we like better than Bank of America How Can Investors Benefit From After-Hours Trading Top 5 ETFs to Own Now and Into 2025 The Most Important Warren Buffett Stock for Investors: His Own Watch These 3 Former Short-Squeeze Stocks for a Big Rally Ride Out The Recession With These Dividend Kings Simon Property REIT: A Safe Bet for Growth and Steady Dividends 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.
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