Bank of America Co. (NYSE:BAC) Shares Bought by True Vision MN LLC

True Vision MN LLC grew its holdings in Bank of America Co. (NYSE:BAC) by 14.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,087 shares of the financial services provider’s stock after acquiring an additional 1,946 shares during the quarter. True Vision MN LLC’s holdings in Bank of America were worth $599,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of BAC. Fairway Wealth LLC purchased a new position in shares of Bank of America during the second quarter worth $27,000. POM Investment Strategies LLC grew its position in Bank of America by 839.0% during the 2nd 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. Kennebec Savings Bank acquired a new position in shares of Bank of America in the 3rd quarter valued at about $29,000. Bbjs Financial Advisors LLC purchased a new stake in shares of Bank of America in the second quarter worth about $30,000. Finally, Christopher J. Hasenberg Inc grew its holdings in 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 acquiring an additional 852 shares during the period. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Berkshire Hathaway Inc sold 8,031,639 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $40.66, for a total transaction of $326,566,441.74. Following the completion of the transaction, the insider now owns 874,692,264 shares of the company’s stock, valued at approximately $35,564,987,454.24. This trade represents a 0.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders sold 77,946,615 shares of company stock worth $3,152,226,690. Company insiders own 0.29% of the company’s stock.

Bank of America Trading Up 0.2 %

NYSE BAC traded up $0.09 on Wednesday, reaching $47.84. 1,584,776 shares of the company were exchanged, compared to its average volume of 38,443,227. Bank of America Co. has a fifty-two week low of $29.32 and a fifty-two week high of $47.98. The stock has a market capitalization of $367.07 billion, a P/E ratio of 17.36, a price-to-earnings-growth ratio of 1.61 and a beta of 1.32. The business’s fifty day moving average price is $42.57 and its 200 day moving average price is $40.82. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.09.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.03. The firm had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.25 billion. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. Bank of America’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.90 earnings per share. Analysts forecast that Bank of America Co. will post 3.27 earnings per share for the current year.

Bank of America Announces Dividend

The firm 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 $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Friday, December 6th. Bank of America’s dividend payout ratio is presently 37.82%.

Wall Street Analyst Weigh In

BAC has been the topic of several recent research reports. Wells Fargo & Company upped their price objective 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. Royal Bank of Canada restated an “outperform” rating and set a $46.00 price target on shares of Bank of America in a research report on Wednesday, October 9th. Phillip Securities raised shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 target price on the stock in a research note on Friday, October 18th. Evercore ISI lifted their price target on Bank of America from $44.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, StockNews.com upgraded Bank of America from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $44.26.

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.