Christopher J. Hasenberg Inc Acquires 852 Shares of Bank of America Co. (NYSE:BAC)

Christopher J. Hasenberg Inc raised its holdings in Bank of America Co. (NYSE:BAC) by 525.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,014 shares of the financial services provider’s stock after buying an additional 852 shares during the period. Christopher J. Hasenberg Inc’s holdings in Bank of America were worth $40,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BAC. Delos Wealth Advisors LLC increased its stake in shares of Bank of America by 402.2% during the first quarter. Delos Wealth Advisors LLC now owns 683 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 547 shares during the period. Fairway Wealth LLC bought a new position in shares of Bank of America during the second quarter worth approximately $27,000. Livelsberger Financial Advisory bought a new position in shares of Bank of America during the fourth quarter worth approximately $28,000. POM Investment Strategies LLC increased its stake 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 purchasing an additional 646 shares during the period. Finally, Bbjs Financial Advisors LLC bought a new position in shares of Bank of America during the second quarter worth approximately $30,000. Institutional investors own 70.71% of the company’s stock.

Insider Activity at Bank of America

In related news, major shareholder Berkshire Hathaway Inc sold 12,690,693 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $44.07, for a total transaction of $559,278,840.51. Following the sale, the insider now owns 1,020,161,313 shares of the company’s stock, valued at $44,958,509,063.91. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, major shareholder Berkshire Hathaway Inc sold 12,690,693 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $44.07, for a total transaction of $559,278,840.51. Following the completion of the transaction, the insider now directly owns 1,020,161,313 shares of the company’s stock, valued at $44,958,509,063.91. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lindsay D. Hans sold 10,901 shares of the firm’s 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 transaction, the insider now directly owns 10,907 shares of the company’s stock, valued at approximately $402,577.37. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 160,921,082 shares of company stock valued at $6,582,343,525 in the last 90 days. 0.29% of the stock is owned by corporate insiders.

Bank of America Trading Down 0.5 %

NYSE BAC opened at $39.97 on Friday. 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 twelve month low of $24.96 and a twelve month high of $44.44. The company has a market cap of $310.15 billion, a price-to-earnings ratio of 14.07, a price-to-earnings-growth ratio of 1.39 and a beta of 1.33. The business’s fifty day moving average is $39.32 and its 200 day moving average is $39.21.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.04. Bank of America had a return on equity of 10.56% and a net margin of 13.28%. The company had revenue of $25.38 billion for the quarter, compared to the consensus estimate of $25.22 billion. During the same quarter last year, the business posted $0.88 EPS. Bank of America’s revenue for the quarter was up .7% on a year-over-year basis. As a group, sell-side analysts expect that Bank of America Co. will post 3.25 EPS for the current fiscal year.

Bank of America declared that its board has authorized a stock buyback 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 purchase up to 7.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Bank of America Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 6th were issued a dividend of $0.26 per share. This is an increase from Bank of America’s previous quarterly dividend of $0.24. 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%. Bank of America’s dividend payout ratio (DPR) is 36.62%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $46.00 target price on shares of Bank of America in a research note on Wednesday. Deutsche Bank Aktiengesellschaft upgraded Bank of America from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research note on Tuesday, September 3rd. Barclays increased their price target on Bank of America from $43.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Piper Sandler Companies raised Bank of America from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $37.00 to $42.00 in a research report on Tuesday, July 9th. Finally, Cfra reissued a “sell” rating and set a $39.00 price target 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 given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Bank of America presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.27.

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.