XTX Topco Ltd Buys 12,138 Shares of Bank of America Co. (NYSE:BAC)

XTX Topco Ltd boosted its position in Bank of America Co. (NYSE:BAC) by 11.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 118,429 shares of the financial services provider’s stock after acquiring an additional 12,138 shares during the quarter. Bank of America comprises approximately 0.3% of XTX Topco Ltd’s portfolio, making the stock its 15th largest holding. XTX Topco Ltd’s holdings in Bank of America were worth $4,699,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Legal & General Group Plc increased its holdings in shares of Bank of America by 1.6% during the second quarter. Legal & General Group Plc now owns 57,539,506 shares of the financial services provider’s stock valued at $2,288,347,000 after acquiring an additional 895,884 shares in the last quarter. Fisher Asset Management LLC increased its stake in Bank of America by 4.0% during the 3rd quarter. Fisher Asset Management LLC now owns 45,215,832 shares of the financial services provider’s stock valued at $1,794,164,000 after purchasing an additional 1,731,003 shares in the last quarter. Sanders Capital LLC raised its holdings in Bank of America by 2.8% during the third quarter. Sanders Capital LLC now owns 22,341,213 shares of the financial services provider’s stock worth $886,499,000 after buying an additional 601,211 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its stake in shares of Bank of America by 0.4% in the third quarter. Diamond Hill Capital Management Inc. now owns 17,042,952 shares of the financial services provider’s stock valued at $676,264,000 after buying an additional 59,853 shares in the last quarter. Finally, Clearbridge Investments LLC grew its holdings in shares of Bank of America by 23.6% during the second quarter. Clearbridge Investments LLC now owns 16,260,822 shares of the financial services provider’s stock valued at $646,693,000 after buying an additional 3,109,197 shares during the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on BAC shares. Citigroup raised shares of Bank of America from a “neutral” rating to a “buy” rating and raised their price target for the company from $46.00 to $54.00 in a research report on Friday, November 8th. Phillip Securities upgraded Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 target price on the stock in a report on Friday, October 18th. StockNews.com upgraded Bank of America from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Keefe, Bruyette & Woods raised their price objective on Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Wells Fargo & Company upped their target price on shares of Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Bank of America currently has an average rating of “Moderate Buy” and a consensus target price of $45.57.

Insider Buying and Selling at Bank of America

In other news, major shareholder Berkshire Hathaway Inc sold 1,721,366 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $39.57, for a total transaction of $68,114,452.62. Following the sale, the insider now directly owns 861,175,131 shares in the company, valued at $34,076,699,933.67. This represents a 0.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders have sold 56,945,263 shares of company stock valued at $2,300,620,438 in the last 90 days. 0.29% of the stock is currently owned by company insiders.

Bank of America Stock Down 0.0 %

Shares of NYSE BAC opened at $46.73 on Friday. 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 stock has a market capitalization of $358.52 billion, a PE ratio of 16.99, a P/E/G ratio of 1.57 and a beta of 1.33. Bank of America Co. has a one year low of $30.45 and a one year high of $48.08. The business’s fifty day moving average price is $43.60 and its 200-day moving average price is $41.20.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.78 by $0.03. The business had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.25 billion. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. The company’s revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.90 earnings per share. On average, equities research analysts anticipate that Bank of America Co. will post 3.27 EPS 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 paid a $0.26 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.04 dividend on an annualized basis and a yield of 2.23%. Bank of America’s dividend payout ratio is 37.82%.

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.