Bank of America Co. (NYSE:BAC) Shares Acquired by O ROURKE & COMPANY Inc

O ROURKE & COMPANY Inc raised its stake in Bank of America Co. (NYSE:BAC) by 2.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 12,401 shares of the financial services provider’s stock after purchasing an additional 301 shares during the period. O ROURKE & COMPANY Inc’s holdings in Bank of America were worth $492,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. McAdam LLC grew its stake in shares of Bank of America by 2.1% in the second quarter. McAdam LLC now owns 11,434 shares of the financial services provider’s stock worth $455,000 after purchasing an additional 238 shares during the last quarter. Integrity Financial Corp WA grew its holdings in shares of Bank of America by 1.6% in the third 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. boosted its stake 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 last quarter. Central Bank & Trust Co. grew its stake 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 valued at $75,000 after acquiring an additional 248 shares during the period. Finally, SNS Financial Group LLC boosted its holdings in Bank of America by 3.3% in the 2nd quarter. SNS Financial Group LLC now owns 7,783 shares of the financial services provider’s stock worth $310,000 after buying an additional 248 shares during the period. 70.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BAC has been the subject of several research analyst reports. Piper Sandler upgraded Bank of America from an “underweight” rating to a “neutral” rating and raised their price target for the company from $37.00 to $42.00 in a report on Tuesday, July 9th. StockNews.com raised Bank of America from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. 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. 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 note on Wednesday, October 16th. Finally, Jefferies Financial Group increased their target price on Bank of America from $39.00 to $41.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $42.69.

Bank of America Stock Down 0.8 %

Bank of America stock traded down $0.32 during midday trading on Thursday, hitting $41.99. 9,007,666 shares of the stock were exchanged, compared to its average volume of 38,354,332. The company has a 50 day moving average price of $40.44 and a two-hundred day moving average price of $39.73. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market cap of $325.82 billion, a P/E ratio of 15.33, a P/E/G ratio of 1.42 and a beta of 1.33. Bank of America Co. has a 1 year low of $25.72 and a 1 year high of $44.44.

Bank of America (NYSE:BAC) last released its earnings results on Tuesday, October 15th. The financial services provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.03. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. The company had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.25 billion. During the same quarter last year, the business posted $0.90 EPS. Bank of America’s quarterly revenue was up .4% compared to the same quarter last year. On average, sell-side analysts predict that Bank of America Co. will post 3.26 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend is Friday, December 6th. Bank of America’s dividend payout ratio (DPR) is presently 37.82%.

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

Insider Buying and Selling

In other Bank of America news, major shareholder Berkshire Hathaway Inc sold 5,183,829 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $39.31, for a total transaction of $203,776,317.99. Following the sale, the insider now directly owns 937,246,053 shares in the company, valued at approximately $36,843,142,343.43. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder Berkshire Hathaway Inc sold 5,183,829 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $39.31, for a total value of $203,776,317.99. Following the completion of the transaction, the insider now owns 937,246,053 shares of the company’s stock, valued at approximately $36,843,142,343.43. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Bernard A. Mensah sold 92,000 shares of Bank of America stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $39.80, for a total value of $3,661,600.00. Following the transaction, the insider now owns 96,082 shares in the company, valued at $3,824,063.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,078,718 shares of company stock valued at $4,548,920,425. Insiders own 0.29% of the company’s stock.

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.