Kistler Tiffany Companies LLC raised its holdings in Bank of America Corporation (NYSE:BAC) by 28.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,711 shares of the financial services provider’s stock after acquiring an additional 3,665 shares during the quarter. Kistler Tiffany Companies LLC’s holdings in Bank of America Corporation were worth $405,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of BAC. Tarbox Family Office Inc. raised its holdings in shares of Bank of America Corporation by 0.4% in the 2nd quarter. Tarbox Family Office Inc. now owns 4,809 shares of the financial services provider’s stock worth $117,000 after purchasing an additional 21 shares in the last quarter. Capital Management Corp VA lifted its stake in Bank of America Corporation by 0.3% during the first quarter. Capital Management Corp VA now owns 10,352 shares of the financial services provider’s stock valued at $244,000 after purchasing an additional 33 shares during the last quarter. Welch Group LLC lifted its stake in Bank of America Corporation by 0.4% during the first quarter. Welch Group LLC now owns 10,035 shares of the financial services provider’s stock valued at $237,000 after purchasing an additional 42 shares during the last quarter. Arbor Investment Advisors LLC boosted its holdings in Bank of America Corporation by 0.3% during the second quarter. Arbor Investment Advisors LLC now owns 14,328 shares of the financial services provider’s stock worth $348,000 after buying an additional 46 shares in the last quarter. Finally, Tiemann Investment Advisors LLC boosted its holdings in Bank of America Corporation by 0.3% during the first quarter. Tiemann Investment Advisors LLC now owns 19,903 shares of the financial services provider’s stock worth $470,000 after buying an additional 52 shares in the last quarter. 61.64% of the stock is owned by institutional investors.

Shares of Bank of America Corporation (NYSE BAC) opened at 25.62 on Tuesday. The company has a market cap of $269.43 billion, a price-to-earnings ratio of 15.26 and a beta of 1.25. The firm’s 50-day moving average is $24.20 and its 200-day moving average is $23.78. Bank of America Corporation has a one year low of $15.60 and a one year high of $25.80.

Bank of America Corporation (NYSE:BAC) last released its earnings results on Tuesday, July 18th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.03. The firm had revenue of $22.80 billion for the quarter, compared to analysts’ expectations of $21.84 billion. Bank of America Corporation had a return on equity of 8.11% and a net margin of 20.28%. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.41 earnings per share. Analysts expect that Bank of America Corporation will post $1.81 EPS for the current fiscal year.

Bank of America Corporation announced that its board has approved a share repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 4.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 1st were paid a $0.12 dividend. This is an increase from Bank of America Corporation’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.48 annualized dividend and a yield of 1.87%. Bank of America Corporation’s dividend payout ratio is presently 28.57%.

Several research analysts have issued reports on the company. Robert W. Baird reaffirmed a “hold” rating and issued a $24.00 price target on shares of Bank of America Corporation in a report on Sunday. BidaskClub raised shares of Bank of America Corporation from a “sell” rating to a “hold” rating in a research report on Friday, September 22nd. CIBC restated an “outperform” rating on shares of Bank of America Corporation in a report on Tuesday, July 11th. Oppenheimer Holdings, Inc. restated an “outperform” rating on shares of Bank of America Corporation in a report on Tuesday, July 11th. Finally, Buckingham Research restated 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 report on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $24.90.

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In other Bank of America Corporation news, Director Frank P. Bramble sold 86,763 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $24.16, for a total value of $2,096,194.08. Following the sale, the director now owns 50,000 shares in the company, valued at $1,208,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.18% of the stock is owned by corporate insiders.

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

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