Bank of America Co. (NYSE:BAC) Shares Purchased by Coldstream Capital Management Inc.

Coldstream Capital Management Inc. lifted its holdings in Bank of America Co. (NYSE:BAC) by 10.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 113,286 shares of the financial services provider’s stock after purchasing an additional 11,075 shares during the period. Coldstream Capital Management Inc.’s holdings in Bank of America were worth $4,563,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in BAC. Fairway Wealth LLC acquired a new position in shares of Bank of America in the 2nd quarter worth approximately $27,000. POM Investment Strategies LLC grew its stake in shares of Bank of America by 839.0% in 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 last quarter. Kennebec Savings Bank acquired a new position in shares of Bank of America in the 3rd quarter worth approximately $29,000. Christopher J. Hasenberg Inc grew its stake in shares of Bank of America by 525.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 852 shares during the last quarter. Finally, TruNorth Capital Management LLC grew its stake in shares of Bank of America by 740.7% in the 2nd quarter. TruNorth Capital Management LLC now owns 1,135 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Insider Activity

In other news, major shareholder Berkshire Hathaway Inc sold 8,694,538 shares of Bank of America stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $42.55, for a total value of $369,952,591.90. Following the transaction, the insider now owns 766,305,462 shares of the company’s stock, valued at $32,606,297,408.10. This trade represents a 1.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 55,223,897 shares of company stock valued at $2,232,505,985 over the last 90 days. 0.29% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BAC. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $46.00 price objective on shares of Bank of America in a research note on Wednesday, October 9th. Oppenheimer raised their target price on shares of Bank of America from $50.00 to $56.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Evercore ISI raised their target price on shares of Bank of America from $44.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. StockNews.com upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company raised their target price on shares of Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $45.92.

Bank of America Price Performance

NYSE BAC opened at $45.77 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $351.19 billion, a PE ratio of 16.64, a price-to-earnings-growth ratio of 1.58 and a beta of 1.33. The company has a 50 day moving average price of $43.87 and a two-hundred day moving average price of $41.33. Bank of America Co. has a 12-month low of $30.45 and a 12-month high of $48.08.

Bank of America (NYSE:BAC) last posted its earnings results 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 analysts’ expectations 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 previous year, the company earned $0.90 earnings per share. As a group, equities analysts predict that Bank of America Co. will post 3.27 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 6th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend is Friday, December 6th. Bank of America’s dividend payout ratio is 37.82%.

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.