Bank of America Co. (NYSE:BAC) Shares Purchased by CreativeOne Wealth LLC

CreativeOne Wealth LLC boosted its stake in shares of Bank of America Co. (NYSE:BAC) by 1.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 103,701 shares of the financial services provider’s stock after acquiring an additional 1,590 shares during the quarter. CreativeOne Wealth LLC’s holdings in Bank of America were worth $4,115,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Fairway Wealth LLC purchased a new position in Bank of America in the 2nd quarter valued at approximately $27,000. POM Investment Strategies LLC increased its stake 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 valued at $29,000 after purchasing an additional 646 shares in the last quarter. Kennebec Savings Bank purchased a new position in Bank of America in the 3rd quarter valued at approximately $29,000. Bbjs Financial Advisors LLC purchased a new position in Bank of America in the 2nd quarter valued at approximately $30,000. Finally, Christopher J. Hasenberg Inc increased its position 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 buying an additional 852 shares in the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, major shareholder Berkshire Hathaway Inc sold 8,031,639 shares of Bank of America stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $40.66, for a total transaction of $326,566,441.74. Following the sale, the insider now directly owns 874,692,264 shares of the company’s stock, valued at approximately $35,564,987,454.24. The trade was a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 77,946,615 shares of company stock worth $3,152,226,690 over the last quarter. 0.29% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on BAC shares. StockNews.com raised Bank of America from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Royal Bank of Canada reissued an “outperform” rating and set a $46.00 price target on shares of Bank of America in a research report on Wednesday, October 9th. Barclays raised their price target on Bank of America from $49.00 to $53.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Citigroup raised Bank of America from a “neutral” rating to a “buy” rating and raised their price target for the stock from $46.00 to $54.00 in a research report on Friday, November 8th. Finally, Keefe, Bruyette & Woods raised their price objective on Bank of America from $48.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Bank of America currently has an average rating of “Moderate Buy” and a consensus target price of $44.26.

Bank of America Price Performance

Shares of Bank of America stock opened at $47.76 on Thursday. The business’s fifty day moving average price is $42.73 and its 200 day moving average price is $40.87. The stock has a market capitalization of $366.46 billion, a P/E ratio of 17.37, a PEG ratio of 1.61 and a beta of 1.32. Bank of America Co. has a twelve month low of $29.32 and a twelve month high of $47.98. 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 issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.03. The company 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 firm’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.90 earnings per share. As a group, research analysts anticipate that Bank of America Co. will post 3.27 earnings per share for the current year.

Bank of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Friday, December 6th. Bank of America’s dividend payout ratio is presently 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.