D.A. Davidson & CO. decreased its position in Bank of America Corp (NYSE:BAC) by 2.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 242,586 shares of the financial services provider’s stock after selling 5,889 shares during the period. D.A. Davidson & CO.’s holdings in Bank of America were worth $7,147,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Janus Henderson Group PLC grew its stake in shares of Bank of America by 74.9% in the 2nd quarter. Janus Henderson Group PLC now owns 27,655,967 shares of the financial services provider’s stock valued at $779,654,000 after purchasing an additional 11,842,467 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Bank of America by 16.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 63,851,681 shares of the financial services provider’s stock valued at $1,800,203,000 after purchasing an additional 8,925,474 shares during the period. Natixis grew its stake in shares of Bank of America by 256.8% in the 2nd quarter. Natixis now owns 8,614,786 shares of the financial services provider’s stock valued at $242,851,000 after purchasing an additional 6,200,655 shares during the period. SG Americas Securities LLC grew its stake in shares of Bank of America by 183.4% in the 3rd quarter. SG Americas Securities LLC now owns 1,872,374 shares of the financial services provider’s stock valued at $55,160,000 after purchasing an additional 4,117,908 shares during the period. Finally, Royal London Asset Management Ltd. bought a new stake in shares of Bank of America in the 2nd quarter valued at approximately $111,692,000. 64.39% of the stock is owned by hedge funds and other institutional investors.
BAC has been the topic of several analyst reports. Wolfe Research initiated coverage on Bank of America in a research note on Tuesday, September 25th. They issued an “outperform” rating on the stock. BMO Capital Markets upped their price objective on Bank of America from $35.00 to $36.00 and gave the company a “market perform” rating in a research note on Tuesday, October 16th. Finally, ValuEngine lowered Bank of America from a “hold” rating to a “sell” rating in a research note on Tuesday, October 23rd. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $34.63.
NYSE BAC opened at $28.40 on Monday. The company has a market cap of $290.92 billion, a P/E ratio of 15.52, a price-to-earnings-growth ratio of 1.39 and a beta of 1.27. Bank of America Corp has a one year low of $25.88 and a one year high of $33.05. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.91 and a current ratio of 0.91.
Bank of America (NYSE:BAC) last released its quarterly earnings results on Monday, October 15th. The financial services provider reported $0.66 EPS for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.04. The business had revenue of $22.78 billion for the quarter, compared to analyst estimates of $22.63 billion. Bank of America had a return on equity of 10.82% and a net margin of 21.85%. Bank of America’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.48 EPS. Analysts forecast that Bank of America Corp will post 2.55 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 7th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $0.60 dividend on an annualized basis and a yield of 2.11%. Bank of America’s dividend payout ratio (DPR) is presently 32.79%.
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 through four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.
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