Measured Wealth Private Client Group LLC bought a new position in Bank of America Co. (NYSE:BAC) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 8,435 shares of the financial services provider’s stock, valued at approximately $203,000.

A number of other institutional investors also recently made changes to their positions in the stock. Ninety One North America Inc. raised its holdings in Bank of America by 0.5% in the 2nd quarter. Ninety One North America Inc. now owns 75,114 shares of the financial services provider’s stock worth $2,646,000 after purchasing an additional 387 shares during the period. Pegasus Asset Management Inc. raised its holdings in Bank of America by 0.5% in the 3rd quarter. Pegasus Asset Management Inc. now owns 87,934 shares of the financial services provider’s stock worth $2,118,000 after purchasing an additional 401 shares during the period. Truewealth LLC raised its holdings in Bank of America by 1.4% in the 2nd quarter. Truewealth LLC now owns 29,756 shares of the financial services provider’s stock worth $707,000 after purchasing an additional 412 shares during the period. Cypress Wealth Services LLC raised its holdings in Bank of America by 2.7% in the 2nd quarter. Cypress Wealth Services LLC now owns 17,077 shares of the financial services provider’s stock worth $406,000 after purchasing an additional 449 shares during the period. Finally, Intersect Capital LLC raised its holdings in Bank of America by 1.2% in the 2nd quarter. Intersect Capital LLC now owns 37,679 shares of the financial services provider’s stock worth $895,000 after purchasing an additional 450 shares during the period. 68.19% of the stock is currently owned by institutional investors.

A number of equities analysts recently commented on the company. Morgan Stanley raised their target price on Bank of America from $23.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, June 25th. TheStreet upgraded Bank of America from a “c+” rating to a “b-” rating in a research note on Tuesday, August 25th. Seaport Global Securities initiated coverage on Bank of America in a research note on Wednesday, July 8th. They issued a “neutral” rating for the company. Oppenheimer reiterated a “buy” rating on shares of Bank of America in a research note on Tuesday, September 8th. Finally, Royal Bank of Canada set a $28.00 price target on Bank of America and gave the stock a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $29.31.

In related news, major shareholder Berkshire Hathaway Inc purchased 13,584,301 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was bought at an average price of $24.81 per share, for a total transaction of $337,026,507.81. In the last quarter, insiders purchased 85,092,006 shares of company stock valued at $2,070,253,228. 0.20% of the stock is currently owned by company insiders.

Shares of Bank of America stock opened at $24.24 on Friday. The firm has a market cap of $210.02 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 2.12 and a beta of 1.54. Bank of America Co. has a twelve month low of $17.95 and a twelve month high of $35.72. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 1.08. The business has a 50-day moving average price of $25.04 and a 200-day moving average price of $24.25.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Wednesday, October 14th. The financial services provider reported $0.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.02). The company had revenue of $20.30 billion during the quarter, compared to analysts’ expectations of $20.88 billion. Bank of America had a return on equity of 9.11% and a net margin of 19.09%. The company’s revenue was down 11.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.75 EPS. On average, equities analysts expect that Bank of America Co. will post 1.73 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 4th were given a $0.18 dividend. The ex-dividend date of this dividend was Thursday, September 3rd. This represents a $0.72 annualized dividend and a yield of 2.97%. Bank of America’s dividend payout ratio is currently 24.49%.

Bank of America Profile

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 Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets segments.

See Also: Equity Income

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

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