Asset Management Advisors LLC boosted its holdings in Bank of America Corporation (NYSE:BAC) by 0.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 179,075 shares of the financial services provider’s stock after purchasing an additional 450 shares during the quarter. Bank of America Corporation comprises approximately 3.9% of Asset Management Advisors LLC’s portfolio, making the stock its 13th biggest position. Asset Management Advisors LLC’s holdings in Bank of America Corporation were worth $4,344,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new stake in shares of Bank of America Corporation in the second quarter valued at approximately $100,000. Armbruster Capital Management Inc. boosted its holdings in shares of 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 valued at $102,000 after acquiring an additional 423 shares during the period. Chicago Partners Investment Group LLC boosted its holdings in shares of 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 valued at $103,000 after acquiring an additional 450 shares during the period. Tarbox Family Office Inc. boosted its holdings in shares of 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 valued at $117,000 after acquiring an additional 21 shares during the period. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its holdings in shares of 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 valued at $140,000 after acquiring an additional 1,850 shares during the period. 62.04% of the stock is owned by hedge funds and other institutional investors.

Bank of America Corporation (NYSE BAC) opened at $26.66 on Friday. The stock has a market capitalization of $278,080.06, a price-to-earnings ratio of 15.23, a price-to-earnings-growth ratio of 1.84 and a beta of 1.31. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.91 and a quick ratio of 0.90. Bank of America Corporation has a 52-week low of $20.20 and a 52-week high of $27.98.

Bank of America Corporation (NYSE:BAC) last released its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. The firm had revenue of $22.08 billion during the quarter, compared to analysts’ expectations of $22.07 billion. Bank of America Corporation had a return on equity of 8.33% and a net margin of 20.66%. Bank of America Corporation’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.41 earnings per share. equities analysts expect that Bank of America Corporation will post 1.81 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a 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%.

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BAC has been the subject of several research analyst reports. Vetr raised Bank of America Corporation from a “buy” rating to a “strong-buy” rating and set a $26.59 price objective for the company in a report on Wednesday, August 30th. Credit Suisse Group reissued an “outperform” rating on shares of Bank of America Corporation in a report on Tuesday, October 10th. Citigroup Inc. reaffirmed a “neutral” rating and set a $27.00 price target (up from $25.00) on shares of Bank of America Corporation in a report on Monday, October 9th. Zacks Investment Research downgraded Bank of America Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Finally, Nomura increased their price target on Bank of America Corporation from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, October 16th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-four have issued a buy rating and three have issued a strong buy rating to the company’s stock. Bank of America Corporation presently has a consensus rating of “Buy” and an average target price of $25.82.

Bank of America Corporation Company Profile

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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