Osborn Williams & Donohoe LLC lowered its position in shares of Bank of America Corporation (NYSE:BAC) by 0.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 234,261 shares of the financial services provider’s stock after selling 634 shares during the period. Osborn Williams & Donohoe LLC’s holdings in Bank of America Corporation were worth $5,683,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Boston Partners raised its position in shares of Bank of America Corporation by 0.5% in the first quarter. Boston Partners now owns 75,404,921 shares of the financial services provider’s stock valued at $1,778,802,000 after buying an additional 368,898 shares during the period. Legal & General Group Plc raised its position in shares of Bank of America Corporation by 0.8% in the first quarter. Legal & General Group Plc now owns 49,789,644 shares of the financial services provider’s stock valued at $1,174,642,000 after buying an additional 380,726 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of Bank of America Corporation by 1.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 32,935,455 shares of the financial services provider’s stock valued at $776,948,000 after buying an additional 384,349 shares during the period. Teachers Advisors LLC raised its position in shares of Bank of America Corporation by 12.3% in the fourth quarter. Teachers Advisors LLC now owns 31,279,206 shares of the financial services provider’s stock valued at $691,270,000 after buying an additional 3,414,898 shares during the period. Finally, Russell Investments Group Ltd. raised its position in shares of Bank of America Corporation by 0.5% in the first quarter. Russell Investments Group Ltd. now owns 20,358,170 shares of the financial services provider’s stock valued at $480,416,000 after buying an additional 101,657 shares during the period. Institutional investors own 65.99% of the company’s stock.

Bank of America Corporation (NYSE BAC) traded up 2.26% during midday trading on Monday, hitting $24.40. 27,183,086 shares of the stock traded hands. The company’s 50 day moving average price is $24.25 and its 200 day moving average price is $23.78. The firm has a market cap of $256.60 billion, a PE ratio of 14.53 and a beta of 1.27. Bank of America Corporation has a 12 month low of $14.70 and a 12 month high of $25.80.

Bank of America Corporation (NYSE:BAC) last released its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.03. The business had revenue of $22.80 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.41 EPS. Equities research analysts predict that Bank of America Corporation will post $1.81 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.01%. This is an increase from Bank of America Corporation’s previous quarterly dividend of $0.08. The ex-dividend date is Wednesday, August 30th. Bank of America Corporation’s dividend payout ratio is presently 17.86%.

Bank of America Corporation declared that its Board of Directors has authorized a stock buyback program on Wednesday, June 28th that allows the company to buyback $12.00 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 4.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

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Several brokerages have commented on BAC. BidaskClub upgraded shares of Bank of America Corporation from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Buckingham Research restated a “buy” rating and issued a $30.00 price objective (up from $27.00) on shares of Bank of America Corporation in a report on Monday, July 10th. Oppenheimer Holdings, Inc. restated an “outperform” rating on shares of Bank of America Corporation in a report on Tuesday, July 11th. CIBC restated an “outperform” rating on shares of Bank of America Corporation in a report on Tuesday, July 11th. Finally, Jefferies Group LLC restated a “buy” rating on shares of Bank of America Corporation in a report on Friday, July 7th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $23.94.

In other news, Director Frank P. Bramble sold 86,763 shares of the company’s stock in a transaction that occurred on 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 directly owns 50,000 shares of the company’s stock, valued at approximately $1,208,000. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.18% of the company’s stock.

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

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