Holowesko Partners Ltd. Purchases 1,307,000 Shares of Bank of America Corp. (BAC)
Holowesko Partners Ltd. boosted its stake in shares of Bank of America Corp. (NYSE:BAC) by 37.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,793,200 shares of the financial services provider’s stock after buying an additional 1,307,000 shares during the period. Bank of America Corp. makes up approximately 5.3% of Holowesko Partners Ltd.’s holdings, making the stock its 9th largest position. Holowesko Partners Ltd.’s holdings in Bank of America Corp. were worth $63,606,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Hall Laurie J Trustee raised its stake in Bank of America Corp. by 28.3% in the second quarter. Hall Laurie J Trustee now owns 7,732 shares of the financial services provider’s stock valued at $102,000 after buying an additional 1,707 shares in the last quarter. Acrospire Investment Management LLC purchased a new stake in Bank of America Corp. during the first quarter valued at about $119,000. Orbitronix LP purchased a new stake in Bank of America Corp. during the first quarter valued at about $135,000. Joel Isaacson & Co. LLC raised its stake in Bank of America Corp. by 7.6% in the second quarter. Joel Isaacson & Co. LLC now owns 10,317 shares of the financial services provider’s stock valued at $137,000 after buying an additional 731 shares in the last quarter. Finally, Stock Yards Bank & Trust Co. purchased a new stake in Bank of America Corp. during the second quarter valued at about $138,000. 60.86% of the stock is currently owned by institutional investors and hedge funds.
Shares of Bank of America Corp. (NYSE:BAC) traded down 0.096% on Tuesday, hitting $15.575. The stock had a trading volume of 39,528,106 shares. The stock has a market capitalization of $163.79 billion, a PE ratio of 13.055 and a beta of 1.67. Bank of America Corp. has a one year low of $10.99 and a one year high of $18.09. The firm’s 50 day moving average is $15.36 and its 200-day moving average is $14.28.
Bank of America Corp. (NYSE:BAC) last announced its quarterly earnings data on Monday, July 18th. The financial services provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. Bank of America Corp. had a return on equity of 6.23% and a net margin of 16.31%. The business earned $20.60 million during the quarter, compared to analysts’ expectations of $20.41 billion. During the same period in the previous year, the firm earned $0.45 earnings per share. The firm’s quarterly revenue was down 7.2% compared to the same quarter last year. Equities research analysts expect that Bank of America Corp. will post $1.26 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Friday, September 2nd will be paid a dividend of $0.075 per share. The ex-dividend date is Wednesday, August 31st. This is a boost from Bank of America Corp.’s previous quarterly dividend of $0.05. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.92%. Bank of America Corp.’s payout ratio is 24.59%.
Several research firms recently issued reports on BAC. Credit Suisse Group AG reissued an “outperform” rating and set a $18.00 price target on shares of Bank of America Corp. in a research report on Thursday, July 7th. Goldman Sachs Group Inc. reissued a “buy” rating and set a $19.00 price target (up from $17.00) on shares of Bank of America Corp. in a research report on Friday. Royal Bank Of Canada reissued a “buy” rating on shares of Bank of America Corp. in a research report on Saturday, July 9th. Vetr raised Bank of America Corp. from a “hold” rating to a “buy” rating and set a $16.56 price target on the stock in a research report on Monday, August 29th. Finally, Sanford C. Bernstein restated a “buy” rating on shares of Bank of America Corp. in a research note on Monday, June 20th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-one have given a buy rating to the stock. Bank of America Corp. presently has an average rating of “Buy” and a consensus price target of $25.04.
In related news, Director Thomas D. Woods acquired 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was acquired at an average cost of $14.13 per share, with a total value of $353,250.00. Following the completion of the purchase, the director now directly owns 32,459 shares in the company, valued at $458,645.67. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.18% of the company’s stock.
About Bank of America Corp.
Bank of America Corporation is a bank holding and financial holding company. The Company is a financial institution, serving individual consumers, small- and middle-market businesses, institutional investors, corporations and governments with various banking, investing, asset management and other financial and risk management products and services.
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