Capital Investment Advisory Services LLC lifted its holdings in Bank of America Corporation (NYSE:BAC) by 0.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,809 shares of the financial services provider’s stock after buying an additional 153 shares during the quarter. Bank of America Corporation accounts for 0.9% of Capital Investment Advisory Services LLC’s portfolio, making the stock its 28th biggest holding. Capital Investment Advisory Services LLC’s holdings in Bank of America Corporation were worth $1,330,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Smithfield Trust Co. boosted its stake in shares of Bank of America Corporation by 3.2% in the second quarter. Smithfield Trust Co. now owns 20,878 shares of the financial services provider’s stock valued at $506,000 after buying an additional 652 shares in the last quarter. Seatown Holdings Pte. Ltd. purchased a new stake in shares of Bank of America Corporation in the second quarter valued at approximately $10,165,000. Korea Investment CORP boosted its stake in shares of Bank of America Corporation by 0.5% in the second quarter. Korea Investment CORP now owns 78,908,445 shares of the financial services provider’s stock valued at $1,914,319,000 after buying an additional 390,771 shares in the last quarter. Mercer Capital Advisers Inc. boosted its stake in shares of Bank of America Corporation by 0.7% in the second quarter. Mercer Capital Advisers Inc. now owns 14,222 shares of the financial services provider’s stock valued at $345,000 after buying an additional 101 shares in the last quarter. Finally, Welch & Forbes LLC boosted its stake in shares of Bank of America Corporation by 2.6% in the second quarter. Welch & Forbes LLC now owns 666,767 shares of the financial services provider’s stock valued at $16,176,000 after buying an additional 16,604 shares in the last quarter. Hedge funds and other institutional investors own 61.64% of the company’s stock.

Several equities analysts recently issued reports on the company. Vetr cut Bank of America Corporation from a “buy” rating to a “hold” rating and set a $24.20 price objective for the company. in a report on Monday, June 12th. Deutsche Bank AG reaffirmed a “hold” rating on shares of Bank of America Corporation in a report on Monday, July 3rd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Bank of America Corporation in a report on Tuesday, July 4th. BidaskClub raised Bank of America Corporation from a “hold” rating to a “buy” rating in a report on Friday, July 7th. Finally, Jefferies Group LLC reaffirmed a “buy” rating on shares of Bank of America Corporation in a report on Friday, July 7th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $24.80.

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Bank of America Corporation (NYSE BAC) opened at 26.21 on Friday. The company has a 50 day moving average price of $24.41 and a 200 day moving average price of $23.83. The firm has a market cap of $275.64 billion, a PE ratio of 15.61 and a beta of 1.25. Bank of America Corporation has a 1-year low of $15.60 and a 1-year high of $26.30. Bank of America Corporation also saw some unusual options trading on Thursday. Stock investors purchased 245,085 call options on the stock. This is an increase of 125% compared to the typical daily volume of 109,122 call options.

Bank of America Corporation (NYSE:BAC) last issued its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.03. The company had revenue of $22.80 billion for the quarter, compared to the consensus estimate of $21.84 billion. Bank of America Corporation had a return on equity of 8.11% and a net margin of 20.28%. The firm’s revenue was up 7.1% compared to the same quarter last year. During the same period last year, the business posted $0.41 earnings per share. On average, equities research analysts forecast that Bank of America Corporation will post $1.80 earnings per share for the current year.

Bank of America Corporation announced that its board has authorized a share repurchase program on Wednesday, June 28th that permits the company to buyback $12.00 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 4.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 1st were given a $0.12 dividend. This is an increase from Bank of America Corporation’s previous quarterly dividend of $0.08. This represents a $0.48 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend was Wednesday, August 30th. Bank of America Corporation’s dividend payout ratio (DPR) is currently 28.57%.

In other news, Director Frank P. Bramble sold 86,763 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $24.16, for a total value of $2,096,194.08. Following the sale, the director now directly owns 50,000 shares of the company’s stock, valued at $1,208,000. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.18% of the company’s stock.

Bank of America Corporation 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.

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

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