Bank of America Co. (NYSE:BAC) Stock Holdings Raised by Public Sector Pension Investment Board

Public Sector Pension Investment Board lifted its stake in shares of Bank of America Co. (NYSE:BAC) by 1.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,330,291 shares of the financial services provider’s stock after purchasing an additional 24,489 shares during the period. Public Sector Pension Investment Board’s holdings in Bank of America were worth $92,466,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of BAC. Fairway Wealth LLC bought a new position in Bank of America during the 2nd quarter worth approximately $27,000. POM Investment Strategies LLC increased its holdings in shares of Bank of America by 839.0% in the 2nd quarter. POM Investment Strategies LLC now owns 723 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 646 shares during the last quarter. Kennebec Savings Bank acquired a new stake in shares of Bank of America during the 3rd quarter valued at approximately $29,000. Bbjs Financial Advisors LLC bought a new position in Bank of America during the second quarter worth $30,000. Finally, Christopher J. Hasenberg Inc lifted its stake in Bank of America by 525.9% during the third quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 852 shares during the last quarter. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on BAC shares. Barclays increased their target price on shares of Bank of America from $49.00 to $53.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Evercore ISI increased their price objective on shares of Bank of America from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Wells Fargo & Company raised their target price on shares of Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Deutsche Bank Aktiengesellschaft raised Bank of America from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a report on Tuesday, September 3rd. Finally, Morgan Stanley raised their price target on Bank of America from $47.00 to $48.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $44.26.

Insider Activity at Bank of America

In related news, major shareholder Berkshire Hathaway Inc sold 2,305,415 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $39.27, for a total value of $90,533,647.05. Following the sale, the insider now directly owns 812,041,811 shares in the company, valued at $31,888,881,917.97. The trade was a 0.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 77,946,615 shares of company stock valued at $3,152,226,690 over the last 90 days. 0.29% of the stock is currently owned by corporate insiders.

Bank of America Stock Up 0.0 %

Bank of America stock opened at $47.76 on Thursday. Bank of America Co. has a 52 week low of $29.32 and a 52 week high of $47.98. The stock has a market cap of $366.46 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 1.61 and a beta of 1.32. The company’s 50-day moving average price is $42.73 and its two-hundred day moving average price is $40.87. 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 (NYSE:BAC) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.81 EPS for the quarter, beating analysts’ consensus estimates 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%. The business’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter last year, the business earned $0.90 earnings per share. On average, analysts expect that Bank of America Co. will post 3.27 EPS for the current fiscal year.

Bank of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 6th will be issued a $0.26 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.04 annualized dividend and a dividend yield of 2.18%. Bank of America’s dividend payout ratio (DPR) is 37.82%.

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.