Bard Financial Services Inc. Has $9.95 Million Stock Holdings in Bank of America Co. (NYSE:BAC)

Bard Financial Services Inc. lessened its holdings in shares of Bank of America Co. (NYSE:BAC) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 226,325 shares of the financial services provider’s stock after selling 3,250 shares during the period. Bank of America accounts for 1.2% of Bard Financial Services Inc.’s holdings, making the stock its 21st biggest holding. Bard Financial Services Inc.’s holdings in Bank of America were worth $9,947,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Fairway Wealth LLC bought a new position in Bank of America during the 2nd quarter worth approximately $27,000. Kennebec Savings Bank bought a new position in Bank of America during the third quarter worth $29,000. Christopher J. Hasenberg Inc raised its holdings 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 valued at $40,000 after purchasing an additional 852 shares during the period. Northwest Investment Counselors LLC bought a new stake in Bank of America in the 3rd quarter valued at about $45,000. Finally, Truvestments Capital LLC acquired a new stake in Bank of America in the third quarter valued at approximately $73,000. 70.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BAC has been the topic of several research reports. Morgan Stanley downgraded shares of Bank of America from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $48.00 to $55.00 in a report on Monday, December 9th. Evercore ISI upped their target price 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. Citigroup upgraded Bank of America from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $46.00 to $54.00 in a research note on Friday, November 8th. Oppenheimer dropped their price target on Bank of America from $57.00 to $54.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Keefe, Bruyette & Woods upped their price objective on Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, nine have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $46.07.

Bank of America Price Performance

Bank of America stock traded up $0.80 during midday trading on Monday, reaching $45.61. 16,689,174 shares of the stock were exchanged, compared to its average volume of 21,504,410. Bank of America Co. has a 52 week low of $31.27 and a 52 week high of $48.08. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market cap of $349.96 billion, a PE ratio of 16.59, a PEG ratio of 1.55 and a beta of 1.33. The company’s fifty day moving average is $45.17 and its 200-day moving average is $42.01.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.81 EPS for the quarter, topping the consensus estimate 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%. Bank of America’s revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.90 earnings per share. On average, sell-side analysts forecast that Bank of America Co. will post 3.27 EPS for the current year.

Bank of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 6th were given a $0.26 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.04 annualized dividend and a yield of 2.28%. Bank of America’s dividend payout ratio (DPR) is presently 37.82%.

Insider Activity at Bank of America

In other Bank of America news, major shareholder Berkshire Hathaway Inc sold 8,694,538 shares of Bank of America stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $42.55, for a total transaction of $369,952,591.90. Following the transaction, the insider now directly owns 766,305,462 shares of the company’s stock, valued at approximately $32,606,297,408.10. This trade represents a 1.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is owned by insiders.

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.