Private Wealth Advisors Inc. lifted its position in shares of Bank of America Corporation (NYSE:BAC) by 40.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,033 shares of the financial services provider’s stock after purchasing an additional 13,845 shares during the quarter. Private Wealth Advisors Inc.’s holdings in Bank of America Corporation were worth $1,165,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the company. Korea Investment CORP lifted its position in shares of Bank of America Corporation by 0.5% during the 2nd quarter. Korea Investment CORP now owns 78,908,445 shares of the financial services provider’s stock worth $1,914,319,000 after buying an additional 390,771 shares during the period. Legal & General Group Plc lifted its position in shares of Bank of America Corporation by 2.0% during the 2nd quarter. Legal & General Group Plc now owns 50,797,049 shares of the financial services provider’s stock worth $1,232,414,000 after buying an additional 1,007,405 shares during the period. Schwab Charles Investment Management Inc. lifted its position in shares of Bank of America Corporation by 0.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 33,108,834 shares of the financial services provider’s stock worth $803,221,000 after buying an additional 173,379 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Bank of America Corporation by 1.9% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 30,340,696 shares of the financial services provider’s stock worth $736,065,000 after buying an additional 553,349 shares during the period. Finally, APG Asset Management N.V. lifted its position in shares of Bank of America Corporation by 14.8% during the 2nd quarter. APG Asset Management N.V. now owns 30,054,575 shares of the financial services provider’s stock worth $729,124,000 after buying an additional 3,868,186 shares during the period. 62.04% of the stock is currently owned by institutional investors.

Several equities analysts have issued reports on the company. Vetr downgraded Bank of America Corporation from a “hold” rating to a “sell” rating and set a $26.67 price objective for the company. in a research report on Monday, November 6th. J P Morgan Chase & Co lifted their price objective on Bank of America Corporation from $27.50 to $28.50 and gave the company an “overweight” rating in a research report on Wednesday, November 1st. BidaskClub upgraded Bank of America Corporation from a “buy” rating to a “strong-buy” rating in a research report on Monday, October 23rd. Citigroup Inc. reiterated a “neutral” rating and issued a $27.00 price objective (up previously from $25.00) on shares of Bank of America Corporation in a research report on Monday, October 9th. Finally, Zacks Investment Research downgraded Bank of America Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-four have assigned a buy rating and three have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $25.82.

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Shares of Bank of America Corporation (BAC) opened at $26.62 on Monday. The firm has a market capitalization of $277,662.84, a price-to-earnings ratio of 15.21, a price-to-earnings-growth ratio of 1.84 and a beta of 1.31. Bank of America Corporation has a twelve month low of $19.87 and a twelve month high of $27.98. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.91.

Bank of America Corporation (NYSE:BAC) last announced its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.02. Bank of America Corporation had a return on equity of 8.33% and a net margin of 20.66%. The company had revenue of $22.08 billion during the quarter, compared to analysts’ expectations of $22.07 billion. During the same period in the prior year, the company earned $0.41 EPS. Bank of America Corporation’s revenue was up 2.1% compared to the same quarter last year. equities research analysts expect that Bank of America Corporation will post 1.8 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend is Thursday, November 30th. Bank of America Corporation’s payout ratio is 27.43%.

About Bank of America Corporation

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.

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

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