Bank of America Corp (BAC) Holdings Raised by Beaumont Financial Partners LLC
Beaumont Financial Partners LLC grew its holdings in Bank of America Corp (NYSE:BAC) by 41.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,074 shares of the financial services provider’s stock after acquiring an additional 4,092 shares during the quarter. Beaumont Financial Partners LLC’s holdings in Bank of America were worth $341,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new position in shares of Bank of America during the second quarter worth about $100,000. Chicago Partners Investment Group LLC boosted its position in shares of Bank of America by 11.0% during the second quarter. Chicago Partners Investment Group LLC now owns 4,531 shares of the financial services provider’s stock worth $103,000 after buying an additional 450 shares during the period. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its position in shares of Bank of America by 47.1% during the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 5,780 shares of the financial services provider’s stock worth $140,000 after buying an additional 1,850 shares during the period. Lenox Wealth Advisors Inc. acquired a new position in shares of Bank of America during the second quarter worth about $144,000. Finally, Jacobi Capital Management LLC boosted its position in shares of Bank of America by 21.0% during the first quarter. Jacobi Capital Management LLC now owns 6,347 shares of the financial services provider’s stock worth $147,000 after buying an additional 1,101 shares during the period. Institutional investors own 68.10% of the company’s stock.
Several research firms have recently weighed in on BAC. Robert W. Baird reaffirmed a “hold” rating and set a $24.00 price objective on shares of Bank of America in a research report on Sunday, October 1st. Deutsche Bank reissued a “hold” rating and set a $25.00 price target (up from $23.00) on shares of Bank of America in a research report on Tuesday, September 26th. Jefferies Group reissued a “buy” rating and set a $28.00 price target on shares of Bank of America in a research report on Friday, August 11th. BidaskClub raised Bank of America from a “sell” rating to a “hold” rating in a research report on Friday, September 22nd. Finally, Citigroup reissued a “neutral” rating and set a $27.00 price target (up from $25.00) on shares of Bank of America in a research report on Monday, October 9th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-four have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Bank of America has an average rating of “Buy” and a consensus price target of $26.25.
Shares of Bank of America Corp (NYSE BAC) opened at $28.10 on Friday. Bank of America Corp has a 52-week low of $21.02 and a 52-week high of $28.72. The stock has a market capitalization of $293,100.16, a P/E ratio of 16.06, a PEG ratio of 1.94 and a beta of 1.31. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.91 and a quick ratio of 0.90.
Bank of America (NYSE:BAC) last announced its earnings results on Friday, October 13th. The financial services provider reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.02. The company had revenue of $22.08 billion for the quarter, compared to analyst estimates of $22.07 billion. Bank of America had a return on equity of 8.33% and a net margin of 20.66%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.41 earnings per share. sell-side analysts anticipate that Bank of America Corp will post 1.81 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be paid a dividend of $0.12 per share. The ex-dividend date is Thursday, November 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.71%. Bank of America’s dividend payout ratio (DPR) is currently 27.43%.
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Bank of America Profile
Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers and others with a range of banking, investing, asset management and other financial and risk management products and services. The Company, through its banking and various non-bank subsidiaries, throughout the United States and in international markets, provides a range of banking and non-bank financial services and products through four business segments: Consumer Banking, which comprises Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S.
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