Bank of America Corporation (BAC) Position Maintained by NTV Asset Management LLC
NTV Asset Management LLC continued to hold its position in shares of Bank of America Corporation (NYSE:BAC) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,212 shares of the financial services provider’s stock at the end of the second quarter. NTV Asset Management LLC’s holdings in Bank of America Corporation were worth $684,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new position in Bank of America Corporation during the 2nd quarter worth approximately $100,000. Armbruster Capital Management Inc. boosted its stake in Bank of America Corporation by 10.8% during the 1st quarter. Armbruster Capital Management Inc. now owns 4,323 shares of the financial services provider’s stock worth $102,000 after acquiring an additional 423 shares during the last quarter. Chicago Partners Investment Group LLC boosted its stake in Bank of America Corporation by 11.0% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 4,531 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 450 shares during the last quarter. Tarbox Family Office Inc. boosted its stake in Bank of America Corporation by 0.4% during the 2nd quarter. Tarbox Family Office Inc. now owns 4,809 shares of the financial services provider’s stock worth $117,000 after acquiring an additional 21 shares during the last quarter. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its stake in Bank of America Corporation by 47.1% during the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 5,780 shares of the financial services provider’s stock worth $140,000 after acquiring an additional 1,850 shares during the last quarter. 62.34% of the stock is currently owned by institutional investors and hedge funds.
Shares of Bank of America Corporation (BAC) opened at $27.75 on Tuesday. Bank of America Corporation has a 52-week low of $16.35 and a 52-week high of $27.98. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.90 and a current ratio of 0.91. The firm has a market cap of $290,179.56, a PE ratio of 15.90, a P/E/G ratio of 1.93 and a beta of 1.31.
Bank of America Corporation (NYSE:BAC) last posted its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. Bank of America Corporation had a net margin of 20.66% and a return on equity of 8.33%. The business had revenue of $22.08 billion during the quarter, compared to analysts’ expectations of $22.07 billion. During the same quarter in the prior year, the business posted $0.41 earnings per share. Bank of America Corporation’s revenue was up 2.1% compared to the same quarter last year. analysts expect that Bank of America Corporation will post 1.8 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend is Thursday, November 30th. Bank of America Corporation’s payout ratio is 27.43%.
A number of brokerages have weighed in on BAC. Buckingham Research reaffirmed a “buy” rating and issued a $30.00 price target (up previously from $27.00) on shares of Bank of America Corporation in a research note on Monday, July 10th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating on shares of Bank of America Corporation in a research note on Tuesday, July 11th. CIBC reaffirmed an “outperform” rating on shares of Bank of America Corporation in a research note on Tuesday, July 11th. Keefe, Bruyette & Woods reiterated an “overweight” rating on shares of Bank of America Corporation in a report on Thursday, July 13th. Finally, Vetr upgraded shares of Bank of America Corporation from a “sell” rating to a “hold” rating and set a $23.99 price objective on the stock in a report on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have issued a buy rating and four have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $25.82.
In other Bank of America Corporation news, Director Frank P. Bramble sold 86,763 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $24.16, for a total transaction of $2,096,194.08. Following the completion of the transaction, the director now owns 50,000 shares of the company’s stock, valued at $1,208,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by insiders.
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About Bank of America Corporation
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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