Coastline Trust Co boosted its holdings in Bank of America Co. (NYSE:BAC) by 8.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 76,941 shares of the financial services provider’s stock after buying an additional 5,987 shares during the period. Coastline Trust Co’s holdings in Bank of America were worth $1,854,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BAC. Lenox Wealth Advisors LLC raised its holdings in Bank of America by 111.9% in the second quarter. Lenox Wealth Advisors LLC now owns 1,106 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 584 shares during the period. AlphaMark Advisors LLC raised its holdings in Bank of America by 135.4% in the second quarter. AlphaMark Advisors LLC now owns 1,264 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 727 shares during the period. Crewe Advisors LLC raised its holdings in Bank of America by 363.3% in the third quarter. Crewe Advisors LLC now owns 1,390 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 1,090 shares during the period. Provident Wealth Management LLC acquired a new stake in Bank of America in the third quarter worth $35,000. Finally, Balentine LLC acquired a new stake in Bank of America in the first quarter worth $63,000. Institutional investors own 68.19% of the company’s stock.

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

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Wednesday, October 14th. The financial services provider reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.02). Bank of America had a net margin of 19.09% and a return on equity of 9.11%. The firm had revenue of $20.30 billion during the quarter, compared to the consensus estimate of $20.88 billion. During the same period last year, the business earned $0.75 EPS. The business’s revenue was down 11.6% on a year-over-year basis. Analysts expect that Bank of America Co. will post 1.73 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 4th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend was Thursday, September 3rd. Bank of America’s dividend payout ratio (DPR) is presently 24.49%.

Several equities research analysts have weighed in on BAC shares. Wells Fargo & Company lowered shares of Bank of America to a “sell” rating in a report on Friday, July 10th. Deutsche Bank Aktiengesellschaft raised shares of Bank of America from a “hold” rating to a “buy” rating and increased their price objective for the stock from $27.00 to $29.00 in a research report on Thursday, September 3rd. JPMorgan Chase & Co. increased their price objective on shares of Bank of America from $26.00 to $27.50 and gave the stock an “overweight” rating in a research report on Tuesday, October 6th. ValuEngine raised shares of Bank of America from a “sell” rating to a “hold” rating in a research report on Tuesday, July 7th. Finally, Seaport Global Securities began coverage on shares of Bank of America in a research report on Wednesday, July 8th. They set a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the company. Bank of America currently has an average rating of “Buy” and an average price target of $29.31.

In other news, major shareholder Berkshire Hathaway Inc acquired 16,424,366 shares of the firm’s stock in a transaction dated Monday, July 27th. The stock was bought at an average price of $24.22 per share, with a total value of $397,798,144.52. In the last three months, insiders bought 85,092,006 shares of company stock valued at $2,070,253,228. Insiders own 0.20% of the company’s stock.

Bank of America Company 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.

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

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