HPM Partners LLC cut its holdings in Bank of America Corporation (NYSE:BAC) by 94.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,338 shares of the financial services provider’s stock after selling 92,485 shares during the period. HPM Partners LLC’s holdings in Bank of America Corporation were worth $208,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Northwest Investment Counselors LLC bought a new position in shares of Bank of America Corporation during the second quarter valued at about $100,000. Armbruster Capital Management Inc. raised its stake in shares of 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 valued at $102,000 after acquiring an additional 423 shares during the last quarter. Chicago Partners Investment Group LLC raised its stake in shares of 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 valued at $103,000 after acquiring an additional 450 shares during the last quarter. Tarbox Family Office Inc. raised its stake in shares of 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 valued at $117,000 after acquiring an additional 21 shares during the last quarter. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. raised its stake in shares of 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 valued at $140,000 after acquiring an additional 1,850 shares during the last quarter. 62.04% of the stock is owned by institutional investors and hedge funds.

A number of research firms recently issued reports on BAC. J P Morgan Chase & Co increased their price target on shares of Bank of America Corporation from $27.50 to $28.50 and gave the stock an “overweight” rating in a research note on Wednesday, November 1st. Robert W. Baird reissued a “hold” rating and issued a $24.00 price target on shares of Bank of America Corporation in a research note on Friday, August 25th. UBS AG set a $27.00 price target on shares of Bank of America Corporation and gave the stock a “hold” rating in a research note on Monday, October 16th. Vetr raised shares of Bank of America Corporation from a “buy” rating to a “strong-buy” rating and set a $26.59 price target for the company in a research note on Wednesday, September 6th. Finally, Credit Suisse Group reissued an “outperform” rating on shares of Bank of America Corporation in a research note on Tuesday, October 10th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-four have given a buy rating and three have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $25.82.

Bank of America Corporation (BAC) opened at $26.62 on Monday. Bank of America Corporation has a 52 week low of $19.87 and a 52 week high of $27.98. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.91. The company has a market cap of $277,662.84, a PE ratio of 15.21, a P/E/G ratio of 1.84 and a beta of 1.31.

Bank of America Corporation (NYSE:BAC) last released its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.48 EPS for the quarter, topping 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 firm had revenue of $22.08 billion during the quarter, compared to analysts’ expectations of $22.07 billion. During the same period in the previous year, the company earned $0.41 EPS. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. analysts predict that Bank of America Corporation will post 1.8 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 1st will be issued a dividend of $0.12 per share. The ex-dividend date is Thursday, November 30th. This represents a $0.48 dividend on an annualized basis and a yield of 1.80%. Bank of America Corporation’s payout ratio is 27.43%.

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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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