Bank of America Co. (NYSE:BAC) Shares Purchased by Affinity Capital Advisors LLC

Affinity Capital Advisors LLC raised its position in Bank of America Co. (NYSE:BAC) by 42.8% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 10,720 shares of the financial services provider’s stock after buying an additional 3,215 shares during the quarter. Affinity Capital Advisors LLC’s holdings in Bank of America were worth $425,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Delos Wealth Advisors LLC raised its position in Bank of America by 402.2% in the first quarter. Delos Wealth Advisors LLC now owns 683 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 547 shares in the last quarter. Fairway Wealth LLC purchased a new position in shares of Bank of America in the 2nd quarter valued at about $27,000. Livelsberger Financial Advisory acquired a new stake in shares of Bank of America in the fourth quarter valued at about $28,000. POM Investment Strategies LLC boosted its holdings in 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 in the last quarter. Finally, Bbjs Financial Advisors LLC acquired a new position in Bank of America during the second quarter worth about $30,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Insider Activity

In related news, insider Lindsay D. Hans sold 10,901 shares of the stock in a transaction 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 in the company, valued at approximately $402,577.37. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Berkshire Hathaway Inc sold 4,076,169 shares of Bank of America stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $40.05, for a total transaction of $163,250,568.45. Following the sale, the insider now owns 784,549,933 shares in the company, valued at $31,421,224,816.65. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Lindsay D. Hans sold 10,901 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $36.91, for a total transaction of $402,355.91. Following the completion of the transaction, 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 156,918,857 shares of company stock valued at $6,421,694,213. Company insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on BAC shares. Barclays boosted their price target on Bank of America from $43.00 to $49.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $48.00 price target (up previously from $46.00) on shares of Bank of America in a research report on Wednesday, July 17th. StockNews.com cut shares of Bank of America from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Oppenheimer upped their price target on shares of Bank of America from $48.00 to $49.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Finally, Cfra restated a “sell” rating and set a $39.00 price objective on shares of Bank of America in a research report on Tuesday, July 16th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Bank of America has an average rating of “Moderate Buy” and an average price target of $42.27.

Bank of America Trading Down 0.4 %

Shares of BAC opened at $39.96 on Tuesday. Bank of America Co. has a twelve month low of $24.96 and a twelve month high of $44.44. The firm has a market capitalization of $312.50 billion, a P/E ratio of 13.83, a price-to-earnings-growth ratio of 1.37 and a beta of 1.33. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.09. The stock’s fifty day simple moving average is $39.36 and its 200 day simple moving average is $39.16.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.04. The company had revenue of $25.38 billion for 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 company’s quarterly revenue was up .7% compared to the same quarter last year. During the same period last year, the business posted $0.88 EPS. On average, equities research analysts forecast that Bank of America Co. will post 3.28 earnings per share for the current year.

Bank of America declared that its board has authorized a share repurchase plan on Wednesday, July 24th that permits the company to repurchase $25.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 7.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Bank of America Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were given a $0.26 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.04 annualized dividend and a dividend yield of 2.60%. This is a positive change from Bank of America’s previous quarterly dividend of $0.24. Bank of America’s dividend payout ratio is presently 35.99%.

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.