Bank of America Co. (NYSE:BAC) Shares Sold by GSA Capital Partners LLP

GSA Capital Partners LLP reduced its holdings in Bank of America Co. (NYSE:BAC) by 61.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,269 shares of the financial services provider’s stock after selling 17,694 shares during the period. GSA Capital Partners LLP’s holdings in Bank of America were worth $271,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. APG Asset Management N.V. grew its holdings in Bank of America by 6.8% in the second quarter. APG Asset Management N.V. now owns 24,633,716 shares of the financial services provider’s stock valued at $520,902,000 after purchasing an additional 1,574,233 shares during the period. Bessemer Group Inc. lifted its position in shares of Bank of America by 51.6% in the second quarter. Bessemer Group Inc. now owns 21,055,944 shares of the financial services provider’s stock valued at $500,078,000 after acquiring an additional 7,164,156 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Bank of America by 94.2% in the second quarter. Nordea Investment Management AB now owns 14,883,900 shares of the financial services provider’s stock valued at $348,432,000 after acquiring an additional 7,218,779 shares in the last quarter. EdgePoint Investment Group Inc. purchased a new position in shares of Bank of America in the second quarter valued at approximately $350,740,000. Finally, Principal Financial Group Inc. lifted its position in shares of Bank of America by 3.0% in the second quarter. Principal Financial Group Inc. now owns 12,090,504 shares of the financial services provider’s stock valued at $287,150,000 after acquiring an additional 349,711 shares in the last quarter. 61.72% of the stock is currently owned by institutional investors.

Several research firms have recently weighed in on BAC. Credit Suisse Group restated a “buy” rating and issued a $31.00 target price on shares of Bank of America in a research report on Monday, August 3rd. Oppenheimer restated a “buy” rating on shares of Bank of America in a research report on Tuesday, September 8th. Deutsche Bank Aktiengesellschaft upgraded Bank of America from a “hold” rating to a “buy” rating and raised their target price for the company from $27.00 to $29.00 in a research report on Thursday, September 3rd. Royal Bank of Canada set a $28.00 target price on Bank of America and gave the company a “buy” rating in a research report on Wednesday, October 14th. Finally, TheStreet upgraded Bank of America from a “c+” rating to a “b-” rating in a research report on Tuesday, August 25th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $29.31.

Shares of NYSE BAC opened at $26.81 on Friday. Bank of America Co. has a twelve month low of $17.95 and a twelve month high of $35.72. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.04. The stock has a fifty day simple moving average of $25.01 and a 200-day simple moving average of $24.71. The stock has a market capitalization of $231.93 billion, a PE ratio of 13.27, a PEG ratio of 2.22 and a beta of 1.56.

Bank of America (NYSE:BAC) last issued 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 19.50% and a return on equity of 8.00%. The firm had revenue of $20.30 billion during the quarter, compared to analyst estimates of $20.88 billion. During the same period in the previous year, the firm posted $0.75 earnings per share. The company’s quarterly revenue was down 11.6% compared to the same quarter last year. On average, equities analysts predict that Bank of America Co. will post 1.77 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 24th. Investors of record on Friday, December 4th will be paid a dividend of $0.18 per share. The ex-dividend date is Thursday, December 3rd. This represents a $0.72 annualized dividend and a yield of 2.69%. Bank of America’s payout ratio is 24.49%.

About Bank of America

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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