XTX Topco Ltd Acquires 12,138 Shares of Bank of America Co. (NYSE:BAC)

XTX Topco Ltd lifted its stake in Bank of America Co. (NYSE:BAC) by 11.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 118,429 shares of the financial services provider’s stock after buying an additional 12,138 shares during the period. Bank of America makes up approximately 0.3% of XTX Topco Ltd’s investment portfolio, making the stock its 15th biggest position. XTX Topco Ltd’s holdings in Bank of America were worth $4,699,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in BAC. Fairway Wealth LLC bought a new stake in shares of Bank of America during the 2nd quarter valued at $27,000. POM Investment Strategies LLC raised its stake in Bank of America by 839.0% in 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 in the last quarter. Kennebec Savings Bank bought a new stake in Bank of America during the third quarter worth about $29,000. Bbjs Financial Advisors LLC acquired a new stake in Bank of America during the second quarter worth about $30,000. Finally, Christopher J. Hasenberg Inc increased its holdings in 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 valued at $40,000 after buying an additional 852 shares during the period. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Trading Down 0.0 %

Shares of BAC stock opened at $46.73 on Friday. Bank of America Co. has a 1-year low of $30.45 and a 1-year high of $48.08. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.09. The stock has a market cap of $358.52 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 1.57 and a beta of 1.33. The stock has a 50-day moving average of $43.60 and a 200-day moving average of $41.20.

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

Bank of America Dividend Announcement

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 issued a $0.26 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.04 annualized dividend and a yield of 2.23%. Bank of America’s payout ratio is 37.82%.

Insider Buying and Selling at Bank of America

In other Bank of America news, major shareholder Berkshire Hathaway Inc sold 3,966,178 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $39.58, for a total value of $156,981,325.24. Following the transaction, the insider now directly owns 854,214,328 shares of the company’s stock, valued at approximately $33,809,803,102.24. The trade was a 0.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 56,945,263 shares of company stock valued at $2,300,620,438. 0.29% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Piper Sandler upped their price target on shares of Bank of America from $44.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday. Barclays upped their target price on Bank of America from $49.00 to $53.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. StockNews.com upgraded Bank of America from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Evercore ISI upped their price objective on Bank of America from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company lifted their target price on Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $45.57.

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