Bank of America Co. (NYSE:BAC) Shares Acquired by Larson Financial Group LLC

Larson Financial Group LLC lifted its position in shares of Bank of America Co. (NYSE:BAC) by 18.0% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 10,382 shares of the financial services provider’s stock after purchasing an additional 1,583 shares during the quarter. Larson Financial Group LLC’s holdings in Bank of America were worth $412,000 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. Fairway Wealth LLC purchased a new stake in Bank of America during the second quarter worth approximately $27,000. POM Investment Strategies LLC lifted its holdings 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 valued at $29,000 after acquiring an additional 646 shares in the last quarter. Kennebec Savings Bank purchased a new stake in Bank of America during the 3rd quarter worth $29,000. Bbjs Financial Advisors LLC acquired a new stake in Bank of America in the 2nd quarter valued at $30,000. Finally, Christopher J. Hasenberg Inc raised its position in Bank of America by 525.9% in the third quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 852 shares during the period. Institutional investors and hedge funds own 70.71% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Berkshire Hathaway Inc sold 8,031,639 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $40.66, for a total transaction of $326,566,441.74. Following the completion of the transaction, the insider now owns 874,692,264 shares in the company, valued at approximately $35,564,987,454.24. This represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have sold 77,946,615 shares of company stock valued at $3,152,226,690. Insiders own 0.29% of the company’s stock.

Bank of America Stock Up 0.5 %

BAC stock opened at $47.74 on Wednesday. The firm has a market cap of $366.26 billion, a price-to-earnings ratio of 17.36, a PEG ratio of 1.59 and a beta of 1.32. Bank of America Co. has a 1-year low of $29.32 and a 1-year high of $47.84. The firm has a fifty day moving average price of $42.57 and a two-hundred day moving average price of $40.82. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.80 and a quick ratio of 0.80.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.03. The business had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.25 billion. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. The company’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.90 EPS. Research analysts predict that Bank of America Co. will post 3.27 EPS for the current year.

Bank of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 6th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Friday, December 6th. Bank of America’s payout ratio is 37.82%.

Analyst Ratings Changes

Several brokerages have recently weighed in on BAC. Wells Fargo & Company upped 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. Keefe, Bruyette & Woods upped their price target on Bank of America from $48.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Citigroup upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $46.00 to $54.00 in a research note on Friday, November 8th. 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 research note on Wednesday, October 16th. Finally, Phillip Securities raised shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price target on the stock in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.26.

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