Fidelity D & D Bancorp Inc. Buys Shares of 5,076 Bank of America Co. (NYSE:BAC)

Fidelity D & D Bancorp Inc. purchased a new position in Bank of America Co. (NYSE:BAC) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,076 shares of the financial services provider’s stock, valued at approximately $201,000.

Other hedge funds also recently bought and sold shares of the company. Valley National Advisers Inc. increased its holdings in shares of Bank of America by 13.3% in the second quarter. Valley National Advisers Inc. now owns 11,369 shares of the financial services provider’s stock worth $452,000 after purchasing an additional 1,336 shares during the period. Rovin Capital UT ADV increased its stake in Bank of America by 8.1% in the 2nd quarter. Rovin Capital UT ADV now owns 9,604 shares of the financial services provider’s stock worth $382,000 after acquiring an additional 720 shares during the last quarter. Brookstone Capital Management raised its holdings in shares of Bank of America by 11.5% in the 2nd quarter. Brookstone Capital Management now owns 196,185 shares of the financial services provider’s stock valued at $8,628,000 after acquiring an additional 20,309 shares in the last quarter. Intellectus Partners LLC boosted its position in shares of Bank of America by 1.2% during the 2nd quarter. Intellectus Partners LLC now owns 44,219 shares of the financial services provider’s stock valued at $1,759,000 after acquiring an additional 504 shares during the last quarter. Finally, Davis Investment Partners LLC grew its holdings in shares of Bank of America by 17.2% during the second quarter. Davis Investment Partners LLC now owns 80,333 shares of the financial services provider’s stock worth $3,341,000 after purchasing an additional 11,780 shares in the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Berkshire Hathaway Inc sold 11,422,560 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $40.78, for a total value of $465,811,996.80. Following the completion of the transaction, the insider now directly owns 835,908,435 shares of the company’s stock, valued at $34,088,345,979.30. This represents a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 55,223,897 shares of company stock valued at $2,232,505,985 over the last quarter. 0.29% of the stock is owned by company insiders.

Bank of America Trading Down 0.5 %

Shares of BAC stock traded down $0.24 during mid-day trading on Friday, reaching $45.84. The stock had a trading volume of 2,421,662 shares, compared to its average volume of 38,089,781. The firm has a market capitalization of $351.72 billion, a PE ratio of 16.76, a price-to-earnings-growth ratio of 1.56 and a beta of 1.33. The stock’s 50-day moving average price is $44.27 and its two-hundred day moving average price is $41.43. 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 52-week low of $31.27 and a 52-week high of $48.08.

Bank of America (NYSE:BAC) last announced its quarterly 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 for the quarter, compared to the consensus estimate of $25.25 billion. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. Bank of America’s revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.90 EPS. Equities analysts expect that Bank of America Co. will post 3.27 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Friday, December 6th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.27%. Bank of America’s dividend payout ratio is presently 37.82%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $46.00 target price on shares of Bank of America in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research report on Tuesday, September 3rd. Wells Fargo & Company increased their target price on Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Phillip Securities raised Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price target for the company in a research note on Friday, October 18th. Finally, Keefe, Bruyette & Woods increased their price objective on Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Bank of America currently has an average rating of “Moderate Buy” and an average target price of $45.92.

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.