Bank of America Co. (NYSE:BAC) Shares Sold by Widmann Financial Services Inc.

Widmann Financial Services Inc. trimmed its position in Bank of America Co. (NYSE:BAC) by 6.1% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,178 shares of the financial services provider’s stock after selling 470 shares during the period. Widmann Financial Services Inc.’s holdings in Bank of America were worth $285,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Fairway Wealth LLC bought a new stake in shares of Bank of America in the 2nd quarter valued at approximately $27,000. POM Investment Strategies LLC increased its stake in Bank of America by 839.0% during the second quarter. POM Investment Strategies LLC now owns 723 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 646 shares during the last quarter. Kennebec Savings Bank acquired a new stake in shares of Bank of America during the third quarter worth $29,000. Bbjs Financial Advisors LLC bought a new position in shares of Bank of America in the 2nd quarter worth about $30,000. Finally, Christopher J. Hasenberg Inc lifted its position in shares of Bank of America by 525.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock worth $40,000 after buying an additional 852 shares during the last quarter. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Bank of America

In other Bank of America news, major shareholder Berkshire Hathaway Inc sold 8,031,639 shares of Bank of America stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $40.66, for a total transaction of $326,566,441.74. Following the sale, the insider now owns 874,692,264 shares in the company, valued at $35,564,987,454.24. The trade was a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 70,007,916 shares of company stock worth $2,829,836,123 over the last three months. Company insiders own 0.29% of the company’s stock.

Bank of America Stock Down 0.5 %

Shares of BAC stock opened at $47.52 on Friday. Bank of America Co. has a 12 month low of $30.04 and a 12 month high of $48.08. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.09. The firm has a market cap of $364.62 billion, a PE ratio of 17.28, a price-to-earnings-growth ratio of 1.62 and a beta of 1.32. The stock has a 50 day moving average of $43.02 and a 200-day moving average of $40.98.

Bank of America (NYSE:BAC) last released its earnings results on Tuesday, October 15th. The financial services provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.78 by $0.03. The firm had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.25 billion. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. The business’s quarterly revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.90 EPS. On average, equities analysts predict that Bank of America Co. will post 3.27 EPS for the current year.

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 6th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Friday, December 6th. Bank of America’s dividend payout ratio (DPR) is presently 37.82%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on BAC shares. Deutsche Bank Aktiengesellschaft upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research note on Tuesday, September 3rd. StockNews.com upgraded Bank of America from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Oppenheimer increased their target price on Bank of America from $50.00 to $56.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Phillip Securities upgraded Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 target price on the stock in a research note on Friday, October 18th. Finally, Morgan Stanley upped their price target on shares of Bank of America from $47.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $44.26.

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