Vista Capital Partners Inc. Has $326,000 Stock Holdings in Bank of America Co. (NYSE:BAC)

Vista Capital Partners Inc. lifted its position in shares of Bank of America Co. (NYSE:BAC) by 3.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,195 shares of the financial services provider’s stock after purchasing an additional 309 shares during the period. Vista Capital Partners Inc.’s holdings in Bank of America were worth $326,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Delos Wealth Advisors LLC increased its stake in shares of 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 worth $26,000 after purchasing an additional 547 shares during the last quarter. POM Investment Strategies LLC boosted its holdings in shares of Bank of America by 839.0% during the 2nd quarter. POM Investment Strategies LLC now owns 723 shares of the financial services provider’s stock worth $29,000 after buying an additional 646 shares during the period. Bbjs Financial Advisors LLC bought a new stake in shares of Bank of America during the 2nd quarter worth about $30,000. Livelsberger Financial Advisory bought a new stake in shares of Bank of America during the 4th quarter worth about $28,000. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Bank of America during the 1st quarter worth about $33,000. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Bank of America Price Performance

Shares of NYSE:BAC opened at $38.65 on Friday. The firm has a 50 day moving average of $40.14 and a 200-day moving average of $38.70. The stock has a market capitalization of $299.91 billion, a PE ratio of 13.37, a PEG ratio of 1.40 and a beta of 1.33. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.09. Bank of America Co. has a 12 month low of $24.96 and a 12 month high of $44.44.

Bank of America (NYSE:BAC) last issued its earnings results on Tuesday, July 16th. The financial services provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.79 by $0.04. The company had revenue of $25.38 billion during the quarter, compared to analysts’ expectations of $25.22 billion. Bank of America had a net margin of 13.28% and a return on equity of 10.56%. The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.88 EPS. On average, equities research analysts predict that Bank of America Co. will post 3.28 EPS for the current fiscal year.

Bank of America declared that its Board of Directors has initiated a stock buyback plan on Wednesday, July 24th that allows the company to repurchase $25.00 billion in shares. This repurchase authorization allows the financial services provider to purchase up to 7.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Bank of America Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 6th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.69%. This is a boost from Bank of America’s previous quarterly dividend of $0.24. The ex-dividend date is Friday, September 6th. Bank of America’s dividend payout ratio is currently 35.99%.

Insider Buying and Selling

In related news, major shareholder Berkshire Hathaway Inc sold 12,291,807 shares of the company’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $43.13, for a total transaction of $530,145,635.91. Following the completion of the transaction, the insider now directly owns 998,961,079 shares in the company, valued at approximately $43,085,191,337.27. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, major shareholder Berkshire Hathaway Inc sold 12,291,807 shares of the company’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $43.13, for a total transaction of $530,145,635.91. Following the completion of the transaction, the insider now directly owns 998,961,079 shares in the company, valued at approximately $43,085,191,337.27. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Bernard A. Mensah sold 92,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $39.80, for a total transaction of $3,661,600.00. Following the completion of the transaction, the insider now owns 96,082 shares of the company’s stock, valued at $3,824,063.60. The disclosure for this sale can be found here. Insiders sold a total of 114,391,986 shares of company stock worth $4,719,796,383 in the last three months. 0.29% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

BAC has been the subject of several research analyst reports. Evercore ISI lifted their target price on shares of Bank of America from $43.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. Jefferies Financial Group lifted their target price on shares of Bank of America from $39.00 to $41.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Barclays lifted their target price on shares of Bank of America from $43.00 to $49.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft raised shares of Bank of America from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a report on Tuesday, September 3rd. Finally, Piper Sandler Companies raised shares of Bank of America from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $37.00 to $42.00 in a report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.22.

About Bank of America

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.