Thompson Siegel & Walmsley LLC reduced its stake in shares of Bank of America Corp (NYSE:BAC) by 10.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 246,889 shares of the financial services provider’s stock after selling 27,976 shares during the quarter. Thompson Siegel & Walmsley LLC’s holdings in Bank of America were worth $7,273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in BAC. CSat Investment Advisory L.P. bought a new stake in shares of Bank of America during the second quarter worth $103,000. Cardinal Capital Management Inc. bought a new stake in shares of Bank of America during the third quarter worth $106,000. Quad Cities Investment Group LLC bought a new stake in shares of Bank of America in the second quarter valued at about $112,000. Arlington Partners LLC bought a new stake in shares of Bank of America in the third quarter valued at about $118,000. Finally, Whitnell & Co. bought a new stake in shares of Bank of America in the second quarter valued at about $134,000. 63.75% of the stock is owned by institutional investors and hedge funds.

BAC opened at $27.38 on Wednesday. Bank of America Corp has a 1 year low of $25.88 and a 1 year high of $33.05. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market capitalization of $284.26 billion, a price-to-earnings ratio of 14.96, a P/E/G ratio of 1.36 and a beta of 1.31.

Bank of America (NYSE:BAC) last posted its earnings results on Monday, October 15th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.04. Bank of America had a return on equity of 10.82% and a net margin of 21.85%. The company had revenue of $22.78 billion for the quarter, compared to analyst estimates of $22.63 billion. During the same quarter in the previous year, the firm earned $0.48 earnings per share. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. Sell-side analysts predict that Bank of America Corp will post 2.55 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 7th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $0.60 annualized dividend and a yield of 2.19%. Bank of America’s dividend payout ratio (DPR) is presently 32.79%.

BAC has been the subject of several recent research reports. BMO Capital Markets lifted their price objective on Bank of America from $35.00 to $36.00 and gave the company a “market perform” rating in a report on Tuesday, October 16th. Wolfe Research initiated coverage on Bank of America in a report on Tuesday, September 25th. They issued an “outperform” rating for the company. Finally, ValuEngine downgraded Bank of America from a “hold” rating to a “sell” rating in a report on Tuesday, October 23rd. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $34.63.

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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 through four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.

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Institutional Ownership by Quarter for Bank of America (NYSE:BAC)

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