Macguire Cheswick & Tuttle Investment Counsel LLC boosted its position in Bank of America Corporation (NYSE:BAC) by 6.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 71,388 shares of the financial services provider’s stock after purchasing an additional 4,625 shares during the period. Macguire Cheswick & Tuttle Investment Counsel LLC’s holdings in Bank of America Corporation were worth $1,732,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the business. Northwest Investment Counselors LLC purchased a new stake in shares of Bank of America Corporation during the second quarter worth about $100,000. Armbruster Capital Management Inc. increased its position 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 in the last quarter. Chicago Partners Investment Group LLC increased its position 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 in the last quarter. Tarbox Family Office Inc. grew its position in Bank of America Corporation by 0.4% in the 2nd quarter. Tarbox Family Office Inc. now owns 4,809 shares of the financial services provider’s stock worth $117,000 after purchasing an additional 21 shares during the period. Finally, Lenox Wealth Advisors Inc. bought a new stake in Bank of America Corporation in the 2nd quarter worth approximately $144,000. Hedge funds and other institutional investors own 61.53% of the company’s stock.
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A number of research analysts recently weighed in on BAC shares. BMO Capital Markets restated a “market perform” rating and set a $29.00 target price (up previously from $27.00) on shares of Bank of America Corporation in a research note on Monday, October 16th. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $30.00 price target (up previously from $29.00) on shares of Bank of America Corporation in a research note on Friday, July 21st. BidaskClub upgraded shares of Bank of America Corporation from a “sell” rating to a “hold” rating in a report on Friday, September 22nd. UBS AG set a $27.00 target price on shares of Bank of America Corporation and gave the stock a “hold” rating in a report on Monday, October 16th. Finally, Vetr upgraded shares of Bank of America Corporation from a “sell” rating to a “hold” rating and set a $23.99 price target on the stock in a report on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-three have assigned a buy rating and three have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $25.47.
Bank of America Corporation (BAC) traded up 0.523% during mid-day trading on Friday, reaching $27.885. 21,898,024 shares of the company were exchanged. The company has a market cap of $293.25 billion, a P/E ratio of 15.962 and a beta of 1.25. The stock’s 50-day moving average is $25.38 and its 200-day moving average is $24.13. Bank of America Corporation has a 12 month low of $16.28 and a 12 month high of $27.92.
Bank of America Corporation (NYSE:BAC) last issued its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 for the quarter, compared to analysts’ expectations of $22.07 billion. During the same quarter last year, the company posted $0.41 EPS. The company’s revenue was up 2.1% compared to the same quarter last year. Equities analysts expect that Bank of America Corporation will post $1.82 earnings per share for the current year.
The company also recently declared 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 annualized dividend and a yield of 1.73%. Bank of America Corporation’s payout ratio is 27.43%.
In other Bank of America Corporation news, Director Frank P. Bramble sold 86,763 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $24.16, for a total value of $2,096,194.08. Following the transaction, the director now directly owns 50,000 shares in the company, valued at approximately $1,208,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate 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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