Bank of America Co. (NYSE:BAC) Shares Bought by Asio Capital LLC

Asio Capital LLC raised its holdings in Bank of America Co. (NYSE:BAC) by 17.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,789 shares of the financial services provider’s stock after buying an additional 20,584 shares during the period. Bank of America comprises about 1.8% of Asio Capital LLC’s holdings, making the stock its 18th largest position. Asio Capital LLC’s holdings in Bank of America were worth $3,271,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Trust Co. of Oklahoma acquired a new stake in Bank of America in the third quarter valued at $376,000. Boothe Investment Group Inc. acquired a new stake in Bank of America in the second quarter valued at $4,233,000. Strategic Investment Advisors MI raised its stake in Bank of America by 30.3% in the third quarter. Strategic Investment Advisors MI now owns 18,317 shares of the financial services provider’s stock valued at $441,000 after buying an additional 4,255 shares in the last quarter. Investment House LLC raised its stake in Bank of America by 669.0% in the second quarter. Investment House LLC now owns 100,834 shares of the financial services provider’s stock valued at $2,395,000 after buying an additional 87,721 shares in the last quarter. Finally, Community Bank N.A. raised its stake in Bank of America by 303.8% in the second quarter. Community Bank N.A. now owns 34,093 shares of the financial services provider’s stock valued at $809,000 after buying an additional 25,649 shares in the last quarter. Institutional investors own 68.19% of the company’s stock.

In other Bank of America news, major shareholder Berkshire Hathaway Inc acquired 13,584,301 shares of the stock in a transaction on Tuesday, August 4th. The shares were bought at an average price of $24.81 per share, with a total value of $337,026,507.81. Insiders acquired a total of 85,092,006 shares of company stock worth $2,070,253,228 in the last ninety days. 0.20% of the stock is owned by corporate insiders.

A number of research firms have weighed in on BAC. DA Davidson cut Bank of America from a “buy” rating to a “neutral” rating and cut their price target for the company from $27.00 to $25.00 in a research note on Thursday, July 9th. Wells Fargo & Company lowered Bank of America to a “sell” rating in a report on Friday, July 10th. Oppenheimer reaffirmed a “buy” rating on shares of Bank of America in a report on Tuesday, September 8th. Deutsche Bank Aktiengesellschaft raised Bank of America from a “hold” rating to a “buy” rating and raised their price objective for the stock from $27.00 to $29.00 in a report on Thursday, September 3rd. Finally, TheStreet raised Bank of America from a “c+” rating to a “b-” rating in a report on Tuesday, August 25th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fourteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $29.31.

NYSE BAC opened at $24.24 on Friday. Bank of America Co. has a 52-week low of $17.95 and a 52-week high of $35.72. The business’s 50-day moving average price is $25.04 and its 200 day moving average price is $24.25. The firm has a market cap of $210.02 billion, a P/E ratio of 11.71, a P/E/G ratio of 2.12 and a beta of 1.54. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 1.08.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Wednesday, October 14th. The financial services provider reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 business had revenue of $20.30 billion during the quarter, compared to analysts’ expectations of $20.88 billion. During the same period in the prior year, the firm posted $0.75 EPS. Bank of America’s revenue for the quarter was down 11.6% compared to the same quarter last year. As a group, analysts anticipate that Bank of America Co. will post 1.73 earnings per share for the current year.

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

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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