Kahn Brothers Group Inc. DE held its stake in Bank of America Corporation (NYSE:BAC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,624 shares of the financial services provider’s stock at the end of the second quarter. Bank of America Corporation makes up about 0.1% of Kahn Brothers Group Inc. DE’s holdings, making the stock its 28th largest holding. Kahn Brothers Group Inc. DE’s holdings in Bank of America Corporation were worth $670,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. M Holdings Securities Inc. raised its holdings in Bank of America Corporation by 72.9% in the 1st quarter. M Holdings Securities Inc. now owns 95,018 shares of the financial services provider’s stock valued at $2,242,000 after buying an additional 40,069 shares during the last quarter. YHB Investment Advisors Inc. raised its holdings in Bank of America Corporation by 17.2% in the 2nd quarter. YHB Investment Advisors Inc. now owns 161,450 shares of the financial services provider’s stock valued at $3,917,000 after buying an additional 23,729 shares during the last quarter. Montag A & Associates Inc. raised its holdings in Bank of America Corporation by 47.4% in the 2nd quarter. Montag A & Associates Inc. now owns 385,764 shares of the financial services provider’s stock valued at $9,359,000 after buying an additional 123,986 shares during the last quarter. AQR Capital Management LLC raised its holdings in Bank of America Corporation by 21.3% in the 1st quarter. AQR Capital Management LLC now owns 8,462,687 shares of the financial services provider’s stock valued at $199,635,000 after buying an additional 1,483,772 shares during the last quarter. Finally, Bank of The West raised its holdings in Bank of America Corporation by 130.9% in the 2nd quarter. Bank of The West now owns 86,217 shares of the financial services provider’s stock valued at $2,092,000 after buying an additional 48,873 shares during the last quarter. Institutional investors and hedge funds own 62.34% of the company’s stock.

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A number of research analysts recently issued reports on the stock. Vetr lowered shares of Bank of America Corporation from a “hold” rating to a “sell” rating and set a $26.67 price objective for the company. in a report on Monday. J P Morgan Chase & Co raised their price objective on shares of Bank of America Corporation from $27.50 to $28.50 and gave the company an “overweight” rating in a report on Wednesday, November 1st. BidaskClub upgraded shares of Bank of America Corporation from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Robert W. Baird reiterated a “hold” rating and issued a $24.00 price objective on shares of Bank of America Corporation in a report on Sunday, October 1st. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $25.00 price objective (up previously from $23.00) on shares of Bank of America Corporation in a report on Tuesday, September 26th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-three have given a buy rating and three have issued a strong buy rating to the stock. Bank of America Corporation has a consensus rating of “Buy” and an average target price of $25.57.

In other news, Director Frank P. Bramble sold 86,763 shares of Bank of America Corporation stock in a transaction 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 sale, the director now directly owns 50,000 shares in the company, valued at approximately $1,208,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is owned by insiders.

Bank of America Corporation (BAC) opened at $27.82 on Monday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.90 and a current ratio of 0.91. The stock has a market cap of $290,179.56, a price-to-earnings ratio of 15.90, a price-to-earnings-growth ratio of 1.93 and a beta of 1.31. Bank of America Corporation has a fifty-two week low of $16.35 and a fifty-two week high of $27.98.

Bank of America Corporation (NYSE:BAC) last posted its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.02. The firm had revenue of $22.08 billion for the quarter, compared to the consensus estimate of $22.07 billion. Bank of America Corporation 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.41 EPS. sell-side analysts anticipate that Bank of America Corporation will post 1.8 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Thursday, November 30th. Bank of America Corporation’s dividend payout ratio is 27.43%.

Bank of America Corporation 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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