Omnia Family Wealth LLC cut its position in shares of Bank of America Corporation (NYSE:BAC) by 13.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 76,755 shares of the financial services provider’s stock after selling 12,336 shares during the quarter. Bank of America Corporation makes up about 0.9% of Omnia Family Wealth LLC’s holdings, making the stock its 18th biggest position. Omnia Family Wealth LLC’s holdings in Bank of America Corporation were worth $1,862,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Northwest Investment Counselors LLC bought a new stake in Bank of America Corporation in the second quarter worth about $100,000. Armbruster Capital Management Inc. raised its position in Bank of America Corporation by 10.8% in the first quarter. Armbruster Capital Management Inc. now owns 4,323 shares of the financial services provider’s stock worth $102,000 after acquiring an additional 423 shares during the period. Chicago Partners Investment Group LLC raised its position in Bank of America Corporation by 11.0% in the second quarter. Chicago Partners Investment Group LLC now owns 4,531 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 450 shares during the period. Tarbox Family Office Inc. raised its position in Bank of America Corporation by 0.4% in the second quarter. Tarbox Family Office Inc. now owns 4,809 shares of the financial services provider’s stock worth $117,000 after acquiring an additional 21 shares during the period. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. raised its position in Bank of America Corporation by 47.1% in the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 5,780 shares of the financial services provider’s stock worth $140,000 after acquiring an additional 1,850 shares during the period. Institutional investors and hedge funds own 62.04% of the company’s stock.

Shares of Bank of America Corporation (NYSE:BAC) opened at $26.66 on Thursday. Bank of America Corporation has a 1-year low of $20.20 and a 1-year high of $27.98. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.91. The company has a market cap of $278,810.22, a price-to-earnings ratio of 15.27, a P/E/G ratio of 1.85 and a beta of 1.31.

Bank of America Corporation (NYSE:BAC) last posted 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 net margin of 20.66% and a return on equity of 8.33%. The company had revenue of $22.08 billion during the quarter, compared to analyst estimates of $22.07 billion. During the same period in the prior year, the business posted $0.41 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. equities analysts anticipate that Bank of America Corporation will post 1.81 earnings per share for the current fiscal year.

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

BAC has been the topic of several research reports. BidaskClub lowered shares of Bank of America Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Wells Fargo & Company initiated coverage on shares of Bank of America Corporation in a research report on Wednesday, August 9th. They issued an “outperform” rating and a $30.00 price objective on the stock. Jefferies Group LLC reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Bank of America Corporation in a research report on Friday, August 11th. Vetr raised shares of Bank of America Corporation from a “buy” rating to a “strong-buy” rating and set a $26.29 price objective on the stock in a research report on Monday, August 21st. Finally, Robert W. Baird reissued a “hold” rating and issued a $24.00 price target on shares of Bank of America Corporation in a research report on Friday, August 25th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-four have issued a buy rating and three have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $25.82.

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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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