3,766 Shares in Bank of America Co. (NYSE:BAC) Purchased by RPg Family Wealth Advisory LLC

RPg Family Wealth Advisory LLC bought a new stake in Bank of America Co. (NYSE:BAC) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 3,766 shares of the financial services provider’s stock, valued at approximately $149,000.

Other hedge funds have also made changes to their positions in the company. Fairway Wealth LLC acquired a new stake in Bank of America during the second quarter worth $27,000. POM Investment Strategies LLC increased its position in shares of Bank of America by 839.0% during 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 acquired a new stake in shares of Bank of America during the 3rd quarter worth about $29,000. Bbjs Financial Advisors LLC purchased a new stake in Bank of America in the 2nd quarter valued at about $30,000. Finally, Christopher J. Hasenberg Inc lifted its position in Bank of America by 525.9% in the third quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock valued at $40,000 after buying an additional 852 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Analysts Set New Price Targets

BAC has been the topic of a number of research analyst reports. Evercore ISI boosted their price target on shares of Bank of America from $44.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Citigroup raised Bank of America from a “neutral” rating to a “buy” rating and boosted their target price for the company from $46.00 to $54.00 in a research report on Friday, November 8th. StockNews.com upgraded Bank of America from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $46.00 price objective on shares of Bank of America in a report on Wednesday, October 9th. Finally, Oppenheimer raised their target price on Bank of America from $50.00 to $56.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Bank of America presently has an average rating of “Moderate Buy” and a consensus target price of $44.26.

Insider Activity

In other Bank of America news, major shareholder Berkshire Hathaway Inc sold 2,305,415 shares of Bank of America stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $39.27, for a total transaction of $90,533,647.05. Following the transaction, the insider now owns 812,041,811 shares of the company’s stock, valued at $31,888,881,917.97. The trade was a 0.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 77,946,615 shares of company stock worth $3,152,226,690. Corporate insiders own 0.29% of the company’s stock.

Bank of America Stock Performance

NYSE:BAC opened at $47.97 on Wednesday. Bank of America Co. has a 12 month low of $29.32 and a 12 month high of $47.97. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market capitalization of $368.07 billion, a PE ratio of 17.36, a price-to-earnings-growth ratio of 1.61 and a beta of 1.32. The business’s fifty day moving average price is $42.57 and its 200 day moving average price is $40.82.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.03. The business had revenue of $25.30 billion for the quarter, compared to the consensus estimate 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 for the quarter was up .4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.90 EPS. On average, sell-side analysts anticipate that Bank of America Co. will post 3.27 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The business 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 dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.04 annualized dividend and a dividend yield of 2.17%. 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.