Bank of America Co. (NYSE:BAC) Stock Holdings Reduced by Community Bank of Raymore

Community Bank of Raymore reduced its stake in Bank of America Co. (NYSE:BAC) by 17.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 130,193 shares of the financial services provider’s stock after selling 27,215 shares during the period. Bank of America accounts for about 3.9% of Community Bank of Raymore’s holdings, making the stock its 5th biggest position. Community Bank of Raymore’s holdings in Bank of America were worth $5,166,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. Delos Wealth Advisors LLC grew its position in shares of Bank of America by 402.2% during the first quarter. Delos Wealth Advisors LLC now owns 683 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 547 shares during the last quarter. Fairway Wealth LLC purchased a new position in shares of Bank of America during the second quarter worth approximately $27,000. POM Investment Strategies LLC grew its position in shares of Bank of America by 839.0% during the second quarter. POM Investment Strategies LLC now owns 723 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 646 shares during the last quarter. Bbjs Financial Advisors LLC purchased a new position in shares of Bank of America during the second quarter worth approximately $30,000. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Bank of America during the first quarter worth approximately $33,000. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Bank of America

In other news, major shareholder Berkshire Hathaway Inc sold 4,002,225 shares of Bank of America stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $40.14, for a total transaction of $160,649,311.50. Following the completion of the transaction, the insider now owns 776,614,511 shares of the company’s stock, valued at $31,173,306,471.54. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, major shareholder Berkshire Hathaway Inc sold 4,002,225 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $40.14, for a total value of $160,649,311.50. Following the completion of the transaction, the insider now owns 776,614,511 shares of the company’s stock, valued at approximately $31,173,306,471.54. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Bernard A. Mensah sold 92,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were 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 directly owns 96,082 shares of the company’s stock, valued at $3,824,063.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 148,230,389 shares of company stock valued at $6,023,064,684 in the last 90 days. 0.29% of the stock is currently owned by insiders.

Analyst Ratings Changes

BAC has been the topic of a number of research reports. BMO Capital Markets raised their target price on shares of Bank of America from $38.00 to $40.00 and gave the stock a “market perform” rating in a research report on Thursday, July 18th. Keefe, Bruyette & Woods raised their target price on shares of Bank of America from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday. StockNews.com upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a research report on Wednesday. Cfra reiterated a “sell” rating and issued a $39.00 price objective on shares of Bank of America in a research report on Tuesday, July 16th. Finally, Morgan Stanley lifted their price objective on shares of Bank of America from $47.00 to $48.00 and gave the company an “overweight” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, nine have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $42.62.

Bank of America Trading Up 1.6 %

NYSE:BAC opened at $42.80 on Thursday. The company has a market capitalization of $334.71 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 1.39 and a beta of 1.33. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.09. Bank of America Co. has a 52-week low of $24.96 and a 52-week high of $44.44. The stock has a fifty day simple moving average of $39.72 and a 200-day simple moving average of $39.35.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.03. The business had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.25 billion. Bank of America had a return on equity of 10.56% and a net margin of 13.28%. The business’s revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.90 EPS. On average, equities research analysts expect that Bank of America Co. will post 3.25 earnings per share for the current fiscal year.

Bank of America declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, July 24th that permits the company to repurchase $25.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 7.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Bank of America Announces Dividend

The company 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 dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.43%. Bank of America’s dividend payout ratio (DPR) is presently 35.99%.

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.