FCG Advisors LLC lowered its holdings in Bank of America Corporation (NYSE:BAC) by 0.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,291 shares of the financial services provider’s stock after selling 130 shares during the quarter. FCG Advisors LLC’s holdings in Bank of America Corporation were worth $517,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Northwest Investment Counselors LLC purchased a new stake in Bank of America Corporation during the second quarter worth $100,000. Armbruster Capital Management Inc. boosted its holdings in Bank of America Corporation by 10.8% during the first quarter. Armbruster Capital Management Inc. now owns 4,323 shares of the financial services provider’s stock worth $102,000 after buying an additional 423 shares in the last quarter. Chicago Partners Investment Group LLC boosted its holdings in Bank of America Corporation by 11.0% during the second quarter. Chicago Partners Investment Group LLC now owns 4,531 shares of the financial services provider’s stock worth $103,000 after buying an additional 450 shares in the last quarter. Tarbox Family Office Inc. boosted its holdings in Bank of America Corporation by 0.4% during the second quarter. Tarbox Family Office Inc. now owns 4,809 shares of the financial services provider’s stock worth $117,000 after buying an additional 21 shares in the last quarter. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its holdings in Bank of America Corporation by 47.1% during the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 5,780 shares of the financial services provider’s stock worth $140,000 after buying an additional 1,850 shares in the last quarter. 62.04% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Bank of America Corporation (NYSE BAC) opened at $26.74 on Tuesday. Bank of America Corporation has a 12-month low of $20.01 and a 12-month high of $27.98. The firm has a market cap of $279,020.00, a PE ratio of 15.21, a price-to-earnings-growth 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 (NYSE:BAC) last announced its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. Bank of America Corporation had a net margin of 20.66% and a return on equity of 8.33%. The business had revenue of $22.08 billion during the quarter, compared to analysts’ expectations of $22.07 billion. During the same period last year, the business earned $0.41 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. equities research analysts anticipate that Bank of America Corporation will post 1.8 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend is Thursday, November 30th. Bank of America Corporation’s dividend payout ratio is presently 27.91%.

BAC has been the topic of a number of recent analyst reports. Vetr raised shares of Bank of America Corporation from a “hold” rating to a “buy” rating and set a $26.59 price target on the stock in a report on Monday, October 16th. BidaskClub raised shares of Bank of America Corporation from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Jefferies Group LLC reissued a “buy” rating and set a $28.00 price target on shares of Bank of America Corporation in a report on Friday, August 11th. Deutsche Bank AG reissued a “hold” rating and set a $25.00 price target (up from $23.00) on shares of Bank of America Corporation in a report on Tuesday, September 26th. Finally, Royal Bank Of Canada increased their price target on shares of Bank of America Corporation from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Monday, October 16th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-four have given a buy rating and three have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $25.82.

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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.

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

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