Bank of America Co. (NYSE:BAC) Shares Acquired by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp increased its stake in shares of Bank of America Co. (NYSE:BAC) by 7.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 294,646 shares of the financial services provider’s stock after buying an additional 20,931 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Bank of America were worth $11,692,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in BAC. Fairway Wealth LLC acquired a new stake in shares of Bank of America in the 2nd quarter worth about $27,000. POM Investment Strategies LLC grew its position in 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 worth $29,000 after purchasing an additional 646 shares during the last quarter. Kennebec Savings Bank acquired a new stake in shares of Bank of America in the third quarter valued at approximately $29,000. Bbjs Financial Advisors LLC bought a new stake in shares of Bank of America during the second quarter valued at approximately $30,000. Finally, Christopher J. Hasenberg Inc boosted its position in shares of 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 buying an additional 852 shares during the period. 70.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Bank of America

In other Bank of America news, major shareholder Berkshire Hathaway Inc sold 5,031,014 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $40.28, for a total value of $202,649,243.92. Following the transaction, the insider now directly owns 863,977,599 shares of the company’s stock, valued at $34,801,017,687.72. This represents a 0.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders have sold 70,007,916 shares of company stock worth $2,829,836,123. 0.29% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Barclays lifted their target price on Bank of America from $49.00 to $53.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Phillip Securities upgraded shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price objective on the stock in a research note on Friday, October 18th. StockNews.com upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Morgan Stanley boosted their price target on shares of Bank of America from $47.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, Citigroup upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and increased their price objective for the company from $46.00 to $54.00 in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.26.

Bank of America Stock Up 0.0 %

BAC stock opened at $47.77 on Friday. 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 capitalization of $366.53 billion, a P/E ratio of 17.37, a P/E/G ratio of 1.62 and a beta of 1.32. Bank of America Co. has a 52-week low of $29.32 and a 52-week high of $47.98. The company’s 50 day simple moving average is $42.87 and its 200-day simple moving average is $40.92.

Bank of America (NYSE:BAC) last released its earnings results on Tuesday, October 15th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.03. The company had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.25 billion. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. The company’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 earnings per share. As a group, equities research analysts anticipate that Bank of America Co. will post 3.27 EPS for the current year.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors 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 2.18%. The ex-dividend date of this dividend is Friday, December 6th. Bank of America’s dividend payout ratio is currently 37.82%.

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.