Artemis Investment Management LLP cut its stake in Bank of America Corporation (NYSE:BAC) by 24.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,772,702 shares of the bank’s stock after selling 1,207,622 shares during the quarter. Bank of America Corporation makes up 2.2% of Artemis Investment Management LLP’s portfolio, making the stock its 6th biggest holding. Artemis Investment Management LLP’s holdings in Bank of America Corporation were worth $91,544,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. M Holdings Securities Inc. boosted its holdings in Bank of America Corporation by 72.9% in the first quarter. M Holdings Securities Inc. now owns 95,018 shares of the bank’s stock worth $2,242,000 after purchasing an additional 40,069 shares in the last quarter. Lbmc Investment Advisors LLC boosted its holdings in Bank of America Corporation by 0.3% in the second quarter. Lbmc Investment Advisors LLC now owns 16,851 shares of the bank’s stock worth $409,000 after purchasing an additional 51 shares in the last quarter. YHB Investment Advisors Inc. boosted its holdings in Bank of America Corporation by 17.2% in the second quarter. YHB Investment Advisors Inc. now owns 161,450 shares of the bank’s stock worth $3,917,000 after purchasing an additional 23,729 shares in the last quarter. Montag A & Associates Inc. boosted its holdings in Bank of America Corporation by 47.4% in the second quarter. Montag A & Associates Inc. now owns 385,764 shares of the bank’s stock worth $9,359,000 after purchasing an additional 123,986 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Bank of America Corporation by 21.3% in the first quarter. AQR Capital Management LLC now owns 8,462,687 shares of the bank’s stock worth $199,635,000 after purchasing an additional 1,483,772 shares in the last quarter. Hedge funds and other institutional investors own 62.34% of the company’s stock.

BAC has been the subject of a number of recent research reports. Instinet reiterated a “buy” rating and issued a $27.00 price objective on shares of Bank of America Corporation in a report on Saturday, July 22nd. Royal Bank of Canada reiterated a “buy” rating and issued a $26.00 price objective on shares of Bank of America Corporation in a report on Thursday, July 20th. Jefferies Group LLC reiterated a “buy” rating and issued a $28.00 price objective on shares of Bank of America Corporation in a report on Friday, August 11th. Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of Bank of America Corporation in a report on Friday, October 13th. Finally, Vetr upgraded shares of Bank of America Corporation from a “hold” rating to a “buy” rating and set a $26.59 price objective for the company in a report on Monday, October 16th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-four have assigned a buy rating and three have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of C$25.82.

Shares of Bank of America Corporation (NYSE:BAC) opened at C$26.51 on Friday. The firm has a market cap of $276,515.47, a P/E ratio of 15.15, a PEG ratio of 1.84 and a beta of 1.31. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.90 and a current ratio of 0.91. Bank of America Corporation has a fifty-two week low of C$18.63 and a fifty-two week high of C$27.98.

Bank of America Corporation (NYSE:BAC) last posted its quarterly earnings data on Friday, October 13th. The bank reported C$0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.46 by C$0.02. The company had revenue of C$22.08 billion during the quarter, compared to analyst estimates of C$22.07 billion. Bank of America Corporation had a net margin of 20.66% and a return on equity of 8.33%. The company’s revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the business posted $0.41 earnings per share. equities research analysts forecast that Bank of America Corporation will post 1.8 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend is Thursday, November 30th. Bank of America Corporation’s payout ratio is 27.43%.

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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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