Bank of America Co. (NYSE:BAC) Position Increased by Natixis Advisors LLC

Natixis Advisors LLC increased its holdings in shares of Bank of America Co. (NYSE:BAC) by 3.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,393,543 shares of the financial services provider’s stock after buying an additional 165,088 shares during the quarter. Natixis Advisors LLC’s holdings in Bank of America were worth $214,016,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the business. Fairway Wealth LLC acquired a new stake in shares of Bank of America in the second 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 bought a new position in Bank of America during the third quarter valued at about $29,000. Bbjs Financial Advisors LLC acquired a new position in shares of Bank of America in the second quarter valued at $30,000. Finally, Clearstead Trust LLC lifted its holdings in shares of Bank of America by 1,489.3% during the 1st quarter. Clearstead Trust LLC now owns 890 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 834 shares during the period. Institutional investors and hedge funds own 70.71% of the company’s stock.

Insider Buying and Selling 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 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 completion of the transaction, the insider now directly owns 766,305,462 shares of the company’s stock, valued at $32,606,297,408.10. The trade was a 1.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bernard A. Mensah sold 92,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $39.80, for a total transaction of $3,661,600.00. Following the completion of the transaction, the insider now owns 96,082 shares in the company, valued at $3,824,063.60. This represents a 48.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 107,883,988 shares of company stock valued at $4,344,741,752. 0.29% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on BAC shares. Morgan Stanley boosted their target price on shares of Bank of America from $47.00 to $48.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Citigroup upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $46.00 to $54.00 in a research report on Friday, November 8th. Oppenheimer boosted their target price on Bank of America from $50.00 to $56.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Wells Fargo & Company raised their price objective on Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Barclays increased their price objective on shares of Bank of America from $49.00 to $53.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Bank of America presently has an average rating of “Moderate Buy” and a consensus price target of $44.26.

Bank of America Stock Up 1.9 %

BAC opened at $46.75 on Friday. The company has a fifty day moving average price of $41.49 and a 200-day moving average price of $40.33. Bank of America Co. has a one year low of $29.22 and a one year high of $46.84. The firm has a market capitalization of $358.71 billion, a P/E ratio of 17.00, a price-to-earnings-growth ratio of 1.55 and a beta of 1.32. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.80 and a quick ratio of 0.80.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.03. The business had revenue of $25.30 billion for the quarter, compared to analysts’ expectations of $25.25 billion. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. The business’s revenue was up .4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.90 EPS. Equities research analysts expect that Bank of America Co. will post 3.27 earnings per share for the current fiscal year.

Bank of America declared that its board has authorized a share repurchase program on Wednesday, July 24th that allows the company to buyback $25.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 7.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Bank of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 6th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.22%. Bank of America’s dividend payout ratio is presently 37.82%.

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.