755 Shares in Bank of America Co. (NYSE:BAC) Purchased by Bbjs Financial Advisors LLC

Bbjs Financial Advisors LLC purchased a new stake in Bank of America Co. (NYSE:BAC) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 755 shares of the financial services provider’s stock, valued at approximately $30,000.

Other large investors have also recently added to or reduced their stakes in the company. Delos Wealth Advisors LLC increased its holdings in Bank of America by 402.2% during the 1st quarter. Delos Wealth Advisors LLC now owns 683 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 547 shares in the last quarter. Livelsberger Financial Advisory bought a new position in shares of Bank of America in the fourth quarter valued at about $28,000. Criterion Capital Advisors LLC bought a new position in shares of Bank of America in the fourth quarter valued at about $32,000. Northwest Investment Counselors LLC bought a new stake in Bank of America during the 1st quarter worth about $33,000. Finally, Clearstead Trust LLC increased its position in Bank of America by 1,489.3% in the 1st quarter. Clearstead Trust LLC now owns 890 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 834 shares in the last quarter. 70.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on BAC shares. Royal Bank of Canada upped their target price on shares of Bank of America from $39.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Jefferies Financial Group lifted their target price on Bank of America from $39.00 to $41.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Cfra reaffirmed a “sell” rating and set a $39.00 price target on shares of Bank of America in a research note on Tuesday, July 16th. Oppenheimer raised their price target on Bank of America from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Tuesday, April 30th. Finally, JPMorgan Chase & Co. boosted their price objective on Bank of America from $39.50 to $40.50 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Bank of America has a consensus rating of “Moderate Buy” and a consensus price target of $42.07.

Insider Buying and Selling

In other news, insider Lindsay D. Hans sold 10,901 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $36.91, for a total value of $402,355.91. Following the completion of the transaction, the insider now owns 10,907 shares in the company, valued at approximately $402,577.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Berkshire Hathaway Inc sold 6,993,520 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $40.63, for a total value of $284,146,717.60. Following the completion of the sale, the insider now owns 948,077,805 shares of the company’s stock, valued at approximately $38,520,401,217.15. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Lindsay D. Hans sold 10,901 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $36.91, for a total transaction of $402,355.91. Following the completion of the transaction, the insider now directly owns 10,907 shares of the company’s stock, valued at $402,577.37. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,549,666 shares of company stock worth $2,403,801,723. 0.29% of the stock is owned by insiders.

Bank of America Trading Up 0.8 %

Shares of NYSE BAC traded up $0.30 during midday trading on Tuesday, reaching $38.47. 21,546,527 shares of the stock were exchanged, compared to its average volume of 39,458,469. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.80 and a quick ratio of 0.80. Bank of America Co. has a 12 month low of $24.96 and a 12 month high of $44.44. The business has a 50-day simple moving average of $40.27 and a two-hundred day simple moving average of $37.74. The company has a market capitalization of $300.85 billion, a price-to-earnings ratio of 13.27, a P/E/G ratio of 1.41 and a beta of 1.35.

Bank of America (NYSE:BAC) last announced its earnings results on Tuesday, July 16th. The financial services provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.79 by $0.04. Bank of America had a net margin of 13.28% and a return on equity of 10.56%. The firm had revenue of $25.38 billion for the quarter, compared to the consensus estimate of $25.22 billion. During the same period last year, the company posted $0.88 EPS. The business’s quarterly revenue was up .7% on a year-over-year basis. As a group, equities research analysts expect that Bank of America Co. will post 3.27 EPS for the current year.

Bank of America declared that its Board of Directors has approved a share repurchase plan on Wednesday, July 24th that permits the company to repurchase $25.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 7.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Bank of America Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 6th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Friday, September 6th. This is a positive change from Bank of America’s previous quarterly dividend of $0.24. Bank of America’s payout ratio is currently 35.99%.

Bank of America Company Profile

Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. It operates in four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.