Bank of America Co. (NYSE:BAC) Shares Bought by Guyasuta Investment Advisors Inc.

Guyasuta Investment Advisors Inc. grew its holdings in shares of Bank of America Co. (NYSE:BAC) by 0.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 394,852 shares of the financial services provider’s stock after purchasing an additional 2,841 shares during the period. Bank of America makes up approximately 1.2% of Guyasuta Investment Advisors Inc.’s investment portfolio, making the stock its 27th largest holding. Guyasuta Investment Advisors Inc.’s holdings in Bank of America were worth $16,280,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Gleason Group Inc. boosted its stake in Bank of America by 0.3% during the second quarter. Gleason Group Inc. now owns 93,562 shares of the financial services provider’s stock valued at $3,858,000 after buying an additional 262 shares in the last quarter. MEMBERS Trust Co boosted its stake in Bank of America by 5.1% during the second quarter. MEMBERS Trust Co now owns 5,470 shares of the financial services provider’s stock valued at $226,000 after buying an additional 266 shares in the last quarter. Accel Wealth Management boosted its stake in Bank of America by 1.4% during the first quarter. Accel Wealth Management now owns 19,414 shares of the financial services provider’s stock valued at $751,000 after buying an additional 273 shares in the last quarter. Vigilant Capital Management LLC boosted its stake in Bank of America by 6.7% during the second quarter. Vigilant Capital Management LLC now owns 4,376 shares of the financial services provider’s stock valued at $180,000 after buying an additional 275 shares in the last quarter. Finally, Penn Mutual Asset Management LLC boosted its stake in Bank of America by 4.3% during the first quarter. Penn Mutual Asset Management LLC now owns 6,840 shares of the financial services provider’s stock valued at $265,000 after buying an additional 280 shares in the last quarter. 70.71% of the stock is currently owned by institutional investors.

In other Bank of America news, Vice Chairman Thong M. Nguyen sold 80,000 shares of the firm’s stock in a transaction that occurred on Friday, August 6th. The stock was sold at an average price of $39.98, for a total value of $3,198,400.00. Following the sale, the insider now owns 337,006 shares of the company’s stock, valued at approximately $13,473,499.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.22% of the company’s stock.

Several research analysts recently weighed in on the company. Royal Bank of Canada set a $37.69 target price on Bank of America and gave the company a “buy” rating in a research note on Wednesday, July 21st. Evercore ISI reiterated a “buy” rating and issued a $43.00 price target on shares of Bank of America in a research report on Friday, July 2nd. Keefe, Bruyette & Woods started coverage on Bank of America in a research report on Wednesday, July 7th. They issued a “market perform” rating and a $43.87 price target for the company. Truist Securities started coverage on Bank of America in a research report on Wednesday, June 2nd. They issued a “buy” rating for the company. Finally, Credit Suisse Group increased their price target on Bank of America from $46.00 to $47.00 and gave the company an “outperform” rating in a research report on Friday, July 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Bank of America has a consensus rating of “Buy” and a consensus price target of $40.42.

Shares of BAC stock traded up $1.07 during trading on Monday, reaching $43.21. The company had a trading volume of 1,628,110 shares, compared to its average volume of 49,627,527. The firm’s 50 day simple moving average is $40.19 and its two-hundred day simple moving average is $40.30. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.74 and a quick ratio of 0.74. Bank of America Co. has a one year low of $23.12 and a one year high of $43.49. The company has a market capitalization of $363.61 billion, a PE ratio of 14.09, a PEG ratio of 1.72 and a beta of 1.55.

Bank of America (NYSE:BAC) last released its earnings results on Wednesday, July 14th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.26. The firm had revenue of $21.50 billion for the quarter, compared to analyst estimates of $21.77 billion. Bank of America had a return on equity of 11.08% and a net margin of 30.82%. The company’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.37 EPS. Analysts forecast that Bank of America Co. will post 3.34 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 24th. Shareholders of record on Friday, September 3rd were issued a $0.21 dividend. The ex-dividend date of this dividend was Thursday, September 2nd. This represents a $0.84 dividend on an annualized basis and a yield of 1.94%. This is a positive change from Bank of America’s previous quarterly dividend of $0.18. Bank of America’s dividend payout ratio (DPR) is 38.50%.

About Bank of America

Bank of America Corp. is a bank and financial holding company, which engages in the provision of banking and nonbank financial services. It operates through the following segments: Consumer Banking, Global Wealth and Investment Management, Global Banking, Global Markets, and All Other. The Consumer Banking segment offers credit, banking, and investment products and services to consumers and small businesses.

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

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