Bank of America Co. (NYSE:BAC) Shares Acquired by Ascent Wealth Partners LLC

Ascent Wealth Partners LLC lifted its holdings in shares of Bank of America Co. (NYSE:BAC) by 5.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,072 shares of the financial services provider’s stock after buying an additional 808 shares during the period. Ascent Wealth Partners LLC’s holdings in Bank of America were worth $638,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Delos Wealth Advisors LLC grew its position in Bank of America by 402.2% in the 1st quarter. Delos Wealth Advisors LLC now owns 683 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 547 shares during the last quarter. Fairway Wealth LLC bought a new stake in shares of Bank of America during the second quarter valued at about $27,000. POM Investment Strategies LLC raised its position in shares of Bank of America by 839.0% during the 2nd quarter. POM Investment Strategies LLC now owns 723 shares of the financial services provider’s stock worth $29,000 after buying an additional 646 shares in the last quarter. Bbjs Financial Advisors LLC acquired a new stake in shares of Bank of America in the 2nd quarter worth approximately $30,000. Finally, Clearstead Trust LLC boosted its holdings in shares of Bank of America by 1,489.3% in the first quarter. Clearstead Trust LLC now owns 890 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 834 shares in the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BAC has been the topic of several recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $46.00 target price on shares of Bank of America in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft raised Bank of America from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Tuesday, September 3rd. BMO Capital Markets boosted their price target on shares of Bank of America from $38.00 to $40.00 and gave the stock a “market perform” rating in a research report on Thursday, July 18th. Morgan Stanley boosted their target price on shares of Bank of America from $47.00 to $48.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, Cfra restated a “sell” rating and set a $39.00 target price on shares of Bank of America in a report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Bank of America has an average rating of “Moderate Buy” and an average price target of $42.97.

Insider Transactions at Bank of America

In other Bank of America news, major shareholder Berkshire Hathaway Inc sold 2,305,415 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $39.27, for a total transaction of $90,533,647.05. Following the transaction, the insider now owns 812,041,811 shares of the company’s stock, valued at approximately $31,888,881,917.97. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Bank of America news, major shareholder Berkshire Hathaway Inc sold 2,305,415 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $39.27, for a total transaction of $90,533,647.05. Following the transaction, the insider now directly owns 812,041,811 shares in the company, valued at approximately $31,888,881,917.97. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Bernard A. Mensah sold 92,000 shares of Bank of America stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $39.80, for a total transaction of $3,661,600.00. Following the sale, the insider now owns 96,082 shares of the company’s stock, valued at approximately $3,824,063.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,067,817 shares of company stock worth $4,548,518,070. Corporate insiders own 0.29% of the company’s stock.

Bank of America Price Performance

Shares of NYSE:BAC traded down $0.51 on Thursday, hitting $44.90. The stock had a trading volume of 7,724,602 shares, compared to its average volume of 38,510,301. The company has a market capitalization of $344.51 billion, a price-to-earnings ratio of 16.51, a price-to-earnings-growth ratio of 1.40 and a beta of 1.32. Bank of America Co. has a twelve month low of $27.34 and a twelve month high of $45.55. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.80 and a current ratio of 0.80. The firm’s 50 day moving average price is $40.72 and its 200-day moving average price is $39.96.

Bank of America (NYSE:BAC) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.78 by $0.03. The business had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.25 billion. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. Bank of America’s revenue was up .4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.90 EPS. On average, equities research analysts predict that Bank of America Co. will post 3.26 earnings per share for the current year.

Bank of America declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, July 24th that permits the company to repurchase $25.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 7.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.

Bank of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 6th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.32%. The ex-dividend date is Friday, December 6th. Bank of America’s payout ratio is presently 37.82%.

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.