Edmonds Duncan Registered Investment Advisors LLC cut its stake in shares of Bank of America Corporation (NYSE:BAC) by 1.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,359 shares of the financial services provider’s stock after selling 644 shares during the quarter. Edmonds Duncan Registered Investment Advisors LLC’s holdings in Bank of America were worth $809,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Northwest Investment Counselors LLC bought a new stake in Bank of America during the 2nd quarter valued at $100,000. Armbruster Capital Management Inc. raised its holdings in Bank of America by 10.8% during the 1st quarter. Armbruster Capital Management Inc. now owns 4,323 shares of the financial services provider’s stock valued at $102,000 after buying an additional 423 shares during the last quarter. Chicago Partners Investment Group LLC raised its holdings in Bank of America by 11.0% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 4,531 shares of the financial services provider’s stock valued at $103,000 after buying an additional 450 shares during the last quarter. Tarbox Family Office Inc. raised its holdings in Bank of America by 0.4% during the 2nd quarter. Tarbox Family Office Inc. now owns 4,809 shares of the financial services provider’s stock valued at $117,000 after buying an additional 21 shares during the last quarter. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. raised its holdings in Bank of America 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 valued at $140,000 after buying an additional 1,850 shares during the last quarter. Hedge funds and other institutional investors own 62.04% of the company’s stock.

BAC has been the subject of a number of recent analyst reports. BidaskClub upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Wells Fargo & Company began coverage on shares of Bank of America in a research report on Wednesday, August 9th. They set an “outperform” rating and a $30.00 price objective on the stock. Jefferies Group LLC reissued a “buy” rating and set a $28.00 price objective on shares of Bank of America in a research report on Friday, August 11th. Vetr raised shares of Bank of America from a “buy” rating to a “strong-buy” rating and set a $26.29 price objective on the stock in a research report on Monday, August 21st. Finally, Robert W. Baird reissued a “hold” rating and set a $24.00 price objective on shares of Bank of America in a research report on Friday, August 25th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-four have issued a buy rating and three have given a strong buy rating to the company’s stock. Bank of America has a consensus rating of “Buy” and an average target price of $25.82.

Bank of America Corporation (NYSE BAC) opened at $26.59 on Monday. The stock has a market cap of $277,349.94, a PE ratio of 15.19, a P/E/G ratio of 1.84 and a beta of 1.31. Bank of America Corporation has a one year low of $20.25 and a one year high of $27.98. 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 quarterly earnings results on Friday, October 13th. The financial services provider reported $0.48 earnings per share (EPS) 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 analysts’ expectations of $22.07 billion. Bank of America had a net margin of 20.66% and a return on equity of 8.33%. Bank of America’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.41 EPS. analysts expect that Bank of America Corporation will post 1.81 earnings per share for the current year.

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

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Bank of America Company 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.

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

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