106,291 Shares in Bank of America Co. (NYSE:BAC) Acquired by XTX Topco Ltd

XTX Topco Ltd acquired a new stake in Bank of America Co. (NYSE:BAC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 106,291 shares of the financial services provider’s stock, valued at approximately $4,227,000. Bank of America accounts for about 0.4% of XTX Topco Ltd’s portfolio, making the stock its 15th largest holding.

A number of other hedge funds have also recently added to or reduced their stakes in BAC. Vanguard Group Inc. grew its holdings in shares of Bank of America by 5.9% during the first quarter. Vanguard Group Inc. now owns 644,460,334 shares of the financial services provider’s stock valued at $24,437,936,000 after buying an additional 36,124,363 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in Bank of America by 360.9% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 37,290,357 shares of the financial services provider’s stock valued at $1,255,514,000 after acquiring an additional 29,198,846 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Bank of America by 10.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 104,030,844 shares of the financial services provider’s stock valued at $3,502,720,000 after purchasing an additional 9,879,524 shares during the last quarter. AMF Tjanstepension AB increased its holdings in Bank of America by 959.6% during the 2nd quarter. AMF Tjanstepension AB now owns 9,327,332 shares of the financial services provider’s stock worth $370,948,000 after purchasing an additional 8,447,091 shares in the last quarter. Finally, Swedbank AB purchased a new stake in shares of Bank of America in the first quarter worth approximately $261,923,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Insiders Place Their Bets

In other news, insider Lindsay D. Hans sold 10,901 shares of Bank of America stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $36.91, for a total transaction of $402,355.91. Following the completion of the sale, the insider now owns 10,907 shares in the company, valued at approximately $402,577.37. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, major shareholder Berkshire Hathaway Inc sold 12,291,807 shares of the firm’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $43.13, for a total transaction of $530,145,635.91. Following the transaction, the insider now directly owns 998,961,079 shares of the company’s stock, valued at approximately $43,085,191,337.27. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Lindsay D. Hans sold 10,901 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was 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 directly owns 10,907 shares of the company’s stock, valued at approximately $402,577.37. The disclosure for this sale can be found here. Insiders have sold 114,391,986 shares of company stock worth $4,719,796,383 in the last ninety days. 0.29% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. StockNews.com raised Bank of America from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Morgan Stanley raised their price target on shares of Bank of America from $46.00 to $49.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Cfra reaffirmed a “sell” rating and issued a $39.00 price objective on shares of Bank of America in a research report on Tuesday, July 16th. Royal Bank of Canada lifted their target price on shares of Bank of America from $39.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Finally, Deutsche Bank Aktiengesellschaft raised Bank of America from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Bank of America presently has an average rating of “Moderate Buy” and an average price target of $42.22.

Bank of America Trading Up 0.2 %

NYSE:BAC opened at $39.64 on Thursday. Bank of America Co. has a 1 year low of $24.96 and a 1 year high of $44.44. The stock’s fifty day moving average price is $40.03 and its two-hundred day moving average price is $38.81. 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 company has a market cap of $309.96 billion, a P/E ratio of 13.71, a P/E/G ratio of 1.40 and a beta of 1.33.

Bank of America (NYSE:BAC) last issued its earnings results on Tuesday, July 16th. The financial services provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.79 by $0.04. The business had revenue of $25.38 billion during the quarter, compared to the consensus estimate of $25.22 billion. Bank of America had a return on equity of 10.56% and a net margin of 13.28%. The firm’s revenue was up .7% compared to the same quarter last year. During the same quarter last year, the company earned $0.88 EPS. As a group, analysts expect that Bank of America Co. will post 3.28 EPS for the current year.

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

Bank of America Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 6th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.62%. This is a boost from Bank of America’s previous quarterly dividend of $0.24. The ex-dividend date is Friday, September 6th. Bank of America’s payout ratio is presently 35.99%.

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.