Bank of America Co. (NYSE:BAC) Shares Bought by Atlas Brown Inc.

Atlas Brown Inc. lifted its position in shares of Bank of America Co. (NYSE:BAC) by 4.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 38,590 shares of the financial services provider’s stock after purchasing an additional 1,584 shares during the quarter. Atlas Brown Inc.’s holdings in Bank of America were worth $1,696,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BAC. Qsemble Capital Management LP purchased a new position in Bank of America in the second quarter valued at about $1,668,000. Lansing Street Advisors lifted its position in Bank of America by 2.0% during the 2nd quarter. Lansing Street Advisors now owns 23,066 shares of the financial services provider’s stock worth $917,000 after acquiring an additional 456 shares in the last quarter. Vest Financial LLC grew its position in Bank of America by 11.4% in the second quarter. Vest Financial LLC now owns 562,249 shares of the financial services provider’s stock valued at $22,361,000 after acquiring an additional 57,426 shares in the last quarter. D Orazio & Associates Inc. purchased a new stake in shares of Bank of America during the second quarter valued at approximately $237,000. Finally, Ullmann Wealth Partners Group LLC lifted its position in shares of Bank of America by 1.4% during the second quarter. Ullmann Wealth Partners Group LLC now owns 31,599 shares of the financial services provider’s stock worth $1,257,000 after purchasing an additional 440 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Insider Buying and Selling

In other Bank of America news, major shareholder Berkshire Hathaway Inc sold 8,694,538 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $42.55, for a total value of $369,952,591.90. Following the transaction, the insider now directly owns 766,305,462 shares in the company, valued at $32,606,297,408.10. The trade was a 1.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Wells Fargo & Company lifted their target price on Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Oppenheimer lowered their price objective on Bank of America from $57.00 to $54.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Citigroup upgraded Bank of America from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $46.00 to $54.00 in a research report on Friday, November 8th. HSBC upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Tuesday. Finally, Keefe, Bruyette & Woods upped their target price on Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $47.50.

Bank of America Stock Performance

BAC traded down $1.05 during midday trading on Friday, reaching $45.16. The company’s stock had a trading volume of 29,482,468 shares, compared to its average volume of 31,391,746. Bank of America Co. has a twelve month low of $31.27 and a twelve month high of $48.08. The stock has a market cap of $346.51 billion, a P/E ratio of 16.42, a PEG ratio of 1.55 and a beta of 1.33. The company has a fifty day simple moving average of $45.46 and a 200 day simple moving average of $42.15. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.09.

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. Research analysts expect that Bank of America Co. will post 3.27 earnings per share for the current year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 6th were paid a $0.26 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.04 dividend on an annualized basis and a yield of 2.30%. Bank of America’s payout ratio is currently 37.82%.

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