O ROURKE & COMPANY Inc Buys 301 Shares of Bank of America Co. (NYSE:BAC)

O ROURKE & COMPANY Inc increased its holdings in shares of Bank of America Co. (NYSE:BAC) by 2.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 12,401 shares of the financial services provider’s stock after purchasing an additional 301 shares during the period. O ROURKE & COMPANY Inc’s holdings in Bank of America were worth $492,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Bank of America by 5.9% in the first quarter. Vanguard Group Inc. now owns 644,460,334 shares of the financial services provider’s stock valued at $24,437,936,000 after acquiring an additional 36,124,363 shares during the period. AMF Tjanstepension AB raised its holdings in shares of Bank of America by 959.6% in the 2nd quarter. AMF Tjanstepension AB now owns 9,327,332 shares of the financial services provider’s stock worth $370,948,000 after buying an additional 8,447,091 shares in the last quarter. Swedbank AB acquired a new position in Bank of America during the 1st quarter worth $261,923,000. 1832 Asset Management L.P. increased its stake in shares of Bank of America by 1,432.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 6,151,042 shares of the financial services provider’s stock valued at $244,627,000 after buying an additional 5,749,567 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Bank of America by 290.7% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 7,114,000 shares of the financial services provider’s stock worth $269,763,000 after acquiring an additional 5,293,000 shares during the last quarter. 70.71% of the stock is owned by institutional investors.

Insider Transactions at Bank of America

In related news, major shareholder Berkshire Hathaway Inc sold 5,183,829 shares of Bank of America stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $39.31, for a total transaction of $203,776,317.99. Following the completion of the transaction, the insider now owns 937,246,053 shares in the company, valued at approximately $36,843,142,343.43. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Lindsay D. Hans sold 10,901 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $36.91, for a total value of $402,355.91. Following the completion of the sale, the insider now directly owns 10,907 shares in the company, valued at $402,577.37. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Berkshire Hathaway Inc sold 5,183,829 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $39.31, for a total value of $203,776,317.99. Following the transaction, the insider now owns 937,246,053 shares in the company, valued at $36,843,142,343.43. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,078,718 shares of company stock worth $4,548,920,425 in the last ninety days. Insiders own 0.29% of the company’s stock.

Bank of America Stock Down 0.8 %

Shares of BAC traded down $0.32 during mid-day trading on Thursday, hitting $41.99. 9,007,666 shares of the company’s stock were exchanged, compared to its average volume of 38,354,332. 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 Co. has a 52 week low of $25.72 and a 52 week high of $44.44. The company has a market cap of $325.82 billion, a PE ratio of 15.33, a P/E/G ratio of 1.42 and a beta of 1.33. The company has a 50-day simple moving average of $40.44 and a 200 day simple moving average of $39.73.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.78 by $0.03. The firm had revenue of $25.30 billion during 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 quarterly revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.90 earnings per share. On average, research analysts forecast that Bank of America Co. will post 3.26 earnings per share for the current fiscal year.

Bank of America declared that its board has approved 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 shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Bank of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 6th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend is Friday, December 6th. Bank of America’s dividend payout ratio (DPR) is presently 37.82%.

Analyst Ratings Changes

Several analysts have weighed in on BAC shares. Cfra reissued a “sell” rating and set a $39.00 price objective on shares of Bank of America in a report on Tuesday, July 16th. Piper Sandler raised shares of Bank of America from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $37.00 to $42.00 in a research note on Tuesday, July 9th. BMO Capital Markets upped their target price on shares of Bank of America from $38.00 to $40.00 and gave the company a “market perform” rating in a research report on Thursday, July 18th. Phillip Securities raised Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price target on the stock in a research note on Friday, October 18th. Finally, Keefe, Bruyette & Woods upped their price target on Bank of America from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.69.

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.