Greenwood Capital Associates LLC lessened its stake in Bank of America Corp (NYSE:BAC) by 3.4% during the third quarter, HoldingsChannel.com reports. The firm owned 243,778 shares of the financial services provider’s stock after selling 8,628 shares during the period. Bank of America comprises approximately 1.5% of Greenwood Capital Associates LLC’s portfolio, making the stock its 16th biggest holding. Greenwood Capital Associates LLC owned about 23.37% of Bank of America worth $6,177,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Gateway Advisory LLC raised its holdings in shares of Bank of America by 0.4% in the 2nd quarter. Gateway Advisory LLC now owns 10,053 shares of the financial services provider’s stock worth $244,000 after purchasing an additional 45 shares during the period. Arbor Investment Advisors LLC raised its holdings in shares of Bank of America by 0.3% in the 2nd quarter. Arbor Investment Advisors LLC now owns 14,328 shares of the financial services provider’s stock worth $348,000 after purchasing an additional 46 shares during the period. Lbmc Investment Advisors LLC raised its holdings in shares of Bank of America by 0.3% in the 2nd quarter. Lbmc Investment Advisors LLC now owns 16,851 shares of the financial services provider’s stock worth $409,000 after purchasing an additional 51 shares during the period. TCI Wealth Advisors Inc. raised its holdings in shares of Bank of America by 0.4% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 14,402 shares of the financial services provider’s stock worth $349,000 after purchasing an additional 54 shares during the period. Finally, Altavista Wealth Management Inc. raised its holdings in shares of Bank of America by 0.7% in the 2nd quarter. Altavista Wealth Management Inc. now owns 10,199 shares of the financial services provider’s stock worth $247,000 after purchasing an additional 68 shares during the period. 68.43% of the stock is currently owned by institutional investors.

A number of research analysts recently weighed in on the stock. BMO Capital Markets reiterated a “hold” rating and issued a $31.00 price objective on shares of Bank of America in a research note on Monday. Barclays lifted their price objective on shares of Bank of America from $28.00 to $35.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Robert W. Baird reiterated a “hold” rating and issued a $24.00 price objective on shares of Bank of America in a research note on Sunday, October 1st. Deutsche Bank reiterated a “hold” rating and issued a $25.00 price objective (up from $23.00) on shares of Bank of America in a research note on Tuesday, September 26th. Finally, BidaskClub upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a research note on Friday, September 22nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-four have assigned a buy rating and three have issued a strong buy rating to the company. Bank of America presently has a consensus rating of “Buy” and a consensus target price of $27.56.

Bank of America Corp (NYSE BAC) opened at $30.12 on Tuesday. The company has a market cap of $314,170.00, a price-to-earnings ratio of 17.51, a PEG ratio of 1.71 and a beta of 1.32. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.91. Bank of America Corp has a 1 year low of $22.01 and a 1 year high of $30.44.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. The firm had revenue of $22.08 billion during the quarter, compared to analyst estimates of $22.07 billion. Bank of America had a net margin of 20.66% and a return on equity of 8.33%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.41 EPS. sell-side analysts anticipate that Bank of America Corp will post 1.79 earnings per share for the current fiscal year.

Bank of America declared that its Board of Directors has initiated a stock repurchase program on Tuesday, December 5th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

The business also recently announced a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 1st were given a $0.12 dividend. The ex-dividend date was Thursday, November 30th. This represents a $0.48 annualized dividend and a yield of 1.59%. Bank of America’s dividend payout ratio (DPR) is presently 27.91%.

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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.

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

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