Asahi Life Asset Management CO. LTD. Has $925,000 Holdings in Bank of America Co. (NYSE:BAC)

Asahi Life Asset Management CO. LTD. boosted its position in Bank of America Co. (NYSE:BAC) by 6.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,310 shares of the financial services provider’s stock after buying an additional 1,340 shares during the quarter. Asahi Life Asset Management CO. LTD.’s holdings in Bank of America were worth $925,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of BAC. McAdam LLC lifted its holdings in shares of Bank of America by 2.1% during the 2nd quarter. McAdam LLC now owns 11,434 shares of the financial services provider’s stock worth $455,000 after acquiring an additional 238 shares during the period. Integrity Financial Corp WA lifted its holdings in shares of Bank of America by 1.6% during the 3rd quarter. Integrity Financial Corp WA now owns 14,875 shares of the financial services provider’s stock worth $590,000 after acquiring an additional 240 shares during the period. BTC Capital Management Inc. lifted its holdings in shares of Bank of America by 1.2% during the 2nd quarter. BTC Capital Management Inc. now owns 20,248 shares of the financial services provider’s stock worth $805,000 after acquiring an additional 248 shares during the period. Central Bank & Trust Co. lifted its holdings in shares of Bank of America by 15.1% during the 2nd quarter. Central Bank & Trust Co. now owns 1,892 shares of the financial services provider’s stock worth $75,000 after acquiring an additional 248 shares during the period. Finally, SNS Financial Group LLC lifted its holdings in shares of Bank of America by 3.3% during the 2nd quarter. SNS Financial Group LLC now owns 7,783 shares of the financial services provider’s stock worth $310,000 after acquiring an additional 248 shares during the period. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Bank of America Trading Up 1.1 %

Shares of BAC traded up $0.46 during trading hours on Monday, hitting $42.35. 5,020,390 shares of the stock were exchanged, compared to its average volume of 38,479,977. The firm has a market capitalization of $331.19 billion, a P/E ratio of 14.65, a price-to-earnings-growth ratio of 1.43 and a beta of 1.33. Bank of America Co. has a fifty-two week low of $25.28 and a fifty-two week high of $44.44. The business has a 50-day moving average of $40.24 and a 200-day moving average of $39.62. 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 (NYSE:BAC) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.03. The business had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.25 billion. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. Bank of America’s revenue was up .4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.90 earnings per share. On average, research analysts expect that Bank of America Co. will post 3.26 EPS for the current year.

Bank of America declared that its board has authorized a share repurchase plan on Wednesday, July 24th that allows the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 7.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Bank of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 6th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.46%. The ex-dividend date is Friday, December 6th. Bank of America’s dividend payout ratio is presently 35.99%.

Insider Buying and Selling

In other Bank of America news, 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 value of $402,355.91. Following the transaction, the insider now directly owns 10,907 shares of the company’s stock, valued at approximately $402,577.37. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Bank of America news, major shareholder Berkshire Hathaway Inc sold 6,993,520 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $40.63, for a total value of $284,146,717.60. Following the transaction, the insider now directly owns 948,077,805 shares of the company’s stock, valued at approximately $38,520,401,217.15. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 in the company, valued at $402,577.37. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 120,072,238 shares of company stock valued at $4,833,067,143 over the last ninety days. 0.29% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. StockNews.com upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Cfra reiterated a “sell” rating and set a $39.00 price objective on shares of Bank of America in a research report on Tuesday, July 16th. Jefferies Financial Group upped their price objective on shares of Bank of America from $39.00 to $41.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Oppenheimer upped their price objective on shares of Bank of America from $49.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Bank of America from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.69.

Bank of America 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.