Bank of America Co. (NYSE:BAC) Stock Holdings Increased by CreativeOne Wealth LLC

CreativeOne Wealth LLC boosted its position in Bank of America Co. (NYSE:BAC) by 1.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 103,701 shares of the financial services provider’s stock after buying an additional 1,590 shares during the quarter. CreativeOne Wealth LLC’s holdings in Bank of America were worth $4,115,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Fairway Wealth LLC acquired a new position in shares of Bank of America during the second quarter worth approximately $27,000. POM Investment Strategies LLC boosted its position in shares of Bank of America by 839.0% during the second quarter. POM Investment Strategies LLC now owns 723 shares of the financial services provider’s stock worth $29,000 after buying an additional 646 shares during the period. Kennebec Savings Bank acquired a new position in shares of Bank of America during the third quarter worth approximately $29,000. Bbjs Financial Advisors LLC acquired a new position in shares of Bank of America during the second quarter worth approximately $30,000. Finally, Christopher J. Hasenberg Inc boosted its position in shares of Bank of America by 525.9% during the third quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock worth $40,000 after buying an additional 852 shares during the period. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Bank of America Price Performance

Shares of NYSE:BAC opened at $47.76 on Thursday. The company’s fifty day moving average is $42.73 and its two-hundred day moving average is $40.87. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.09. Bank of America Co. has a 12-month low of $29.32 and a 12-month high of $47.98. The company has a market cap of $366.46 billion, a P/E ratio of 17.37, a price-to-earnings-growth ratio of 1.61 and a beta of 1.32.

Bank of America (NYSE:BAC) last announced its earnings results 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 for the quarter, compared to the consensus estimate of $25.25 billion. During the same period in the previous year, the business earned $0.90 EPS. The company’s revenue was up .4% on a year-over-year basis. Equities analysts expect that Bank of America Co. will post 3.27 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 6th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.04 annualized dividend and a dividend yield of 2.18%. Bank of America’s dividend payout ratio is 37.82%.

Insider Buying and Selling

In related news, major shareholder Berkshire Hathaway Inc sold 1,721,366 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $39.57, for a total transaction of $68,114,452.62. Following the completion of the sale, the insider now directly owns 861,175,131 shares in the company, valued at approximately $34,076,699,933.67. This trade represents a 0.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders sold 77,946,615 shares of company stock worth $3,152,226,690. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BAC. Citigroup upgraded Bank of America from a “neutral” rating to a “buy” rating and upped their target price for the stock from $46.00 to $54.00 in a research report on Friday, November 8th. Barclays upped their target price on Bank of America from $49.00 to $53.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. 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. Phillip Securities upgraded Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 target price for the company in a research report on Friday, October 18th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $46.00 target price on shares of Bank of America in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Bank of America presently has an average rating of “Moderate Buy” and an average price target of $44.26.

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.