Bank of America Co. (NYSE:BAC) Shares Purchased by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. boosted its holdings in Bank of America Co. (NYSE:BAC) by 1.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 107,603 shares of the financial services provider’s stock after acquiring an additional 1,425 shares during the period. J.W. Cole Advisors Inc.’s holdings in Bank of America were worth $4,270,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling at Bank of America

In other Bank of America news, insider Lindsay D. Hans sold 10,901 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $36.91, for a total value of $402,355.91. Following the completion of the sale, the insider now owns 10,907 shares of the company’s stock, valued at $402,577.37. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Bank of America news, insider Lindsay D. Hans sold 10,901 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $36.91, for a total value of $402,355.91. Following the completion of the sale, the insider now owns 10,907 shares of the company’s stock, valued at $402,577.37. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Berkshire Hathaway Inc sold 5,264,601 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $41.20, for a total transaction of $216,901,561.20. Following the completion of the sale, the insider now directly owns 961,646,715 shares of the company’s stock, valued at $39,619,844,658. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 125,336,839 shares of company stock valued at $5,049,968,704 over the last 90 days. 0.29% of the stock is owned by corporate insiders.

Bank of America Trading Down 1.8 %

NYSE BAC traded down $0.76 during mid-day trading on Friday, hitting $41.89. The company’s stock had a trading volume of 27,466,909 shares, compared to its average volume of 38,639,859. Bank of America Co. has a 52-week low of $24.96 and a 52-week high of $44.44. The stock’s fifty day simple moving average is $40.24 and its two-hundred day simple moving average is $39.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market capitalization of $325.05 billion, a P/E ratio of 15.23, a price-to-earnings-growth ratio of 1.43 and a beta of 1.33.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.03. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. The company had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.25 billion. During the same quarter last year, the company earned $0.90 earnings per share. Bank of America’s revenue for the quarter was up .4% on a year-over-year basis. Research analysts expect that Bank of America Co. will post 3.26 EPS for the current year.

Bank of America announced that its board has authorized a share repurchase program on Wednesday, July 24th that authorizes the company to buyback $25.00 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 7.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Bank of America Dividend Announcement

The company 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 2.48%. The ex-dividend date is Friday, December 6th. Bank of America’s dividend payout ratio (DPR) is 37.82%.

Analysts Set New Price Targets

A number of research firms have issued reports on BAC. Morgan Stanley upped their target price on shares of Bank of America from $47.00 to $48.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Seaport Res Ptn upgraded shares of Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 2nd. Phillip Securities upgraded shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 target price on the stock in a report on Friday, October 18th. Jefferies Financial Group upped their target price on shares of Bank of America from $39.00 to $41.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Finally, Cfra restated a “sell” rating and issued a $39.00 target price on shares of Bank of America in a report on Tuesday, July 16th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.69.

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.