Bank of America Corporation (BAC) Holdings Held by Consolidated Investment Group LLC

Consolidated Investment Group LLC maintained its stake in Bank of America Corporation (NYSE:BAC) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 439,013 shares of the financial services provider’s stock at the end of the second quarter. Bank of America Corporation makes up about 5.7% of Consolidated Investment Group LLC’s portfolio, making the stock its 2nd largest position. Consolidated Investment Group LLC’s holdings in Bank of America Corporation were worth $10,650,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Northwest Investment Counselors LLC bought a new position in Bank of America Corporation during the 2nd quarter worth $100,000. Armbruster Capital Management Inc. grew its stake in shares of Bank of America Corporation by 10.8% in the first quarter. Armbruster Capital Management Inc. now owns 4,323 shares of the financial services provider’s stock worth $102,000 after purchasing an additional 423 shares in the last quarter. Chicago Partners Investment Group LLC grew its stake in shares of Bank of America Corporation by 11.0% in the second quarter. Chicago Partners Investment Group LLC now owns 4,531 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 450 shares in the last quarter. Tarbox Family Office Inc. grew its stake in shares of Bank of America Corporation by 0.4% in the second quarter. Tarbox Family Office Inc. now owns 4,809 shares of the financial services provider’s stock worth $117,000 after purchasing an additional 21 shares in the last quarter. Finally, Lenox Wealth Advisors Inc. bought a new position in shares of Bank of America Corporation in the second quarter worth $144,000. Hedge funds and other institutional investors own 61.64% of the company’s stock.

Several research analysts have recently issued reports on the company. Robert W. Baird reissued a “hold” rating and issued a $24.00 price target on shares of Bank of America Corporation in a research note on Sunday, October 1st. Vetr cut Bank of America Corporation from a “hold” rating to a “sell” rating and set a $25.08 price target for the company. in a research note on Wednesday, October 4th. Citigroup Inc. reissued a “neutral” rating and issued a $27.00 price target (up previously from $25.00) on shares of Bank of America Corporation in a research note on Monday. BidaskClub raised Bank of America Corporation from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $25.00 price target (up previously from $23.00) on shares of Bank of America Corporation in a research note on Tuesday, September 26th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $24.88.

Shares of Bank of America Corporation (NYSE BAC) opened at 25.83 on Thursday. The firm has a 50-day moving average price of $24.60 and a 200-day moving average price of $23.90. Bank of America Corporation has a 12-month low of $15.60 and a 12-month high of $26.30. The firm has a market cap of $271.64 billion, a price-to-earnings ratio of 15.38 and a beta of 1.25.

Bank of America Corporation (NYSE:BAC) last announced its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. The firm had revenue of $22.80 billion for the quarter, compared to the consensus estimate of $21.84 billion. Bank of America Corporation had a return on equity of 8.11% and a net margin of 20.28%. The business’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.41 earnings per share. Equities research analysts anticipate that Bank of America Corporation will post $1.80 EPS for the current year.

Bank of America Corporation declared that its board has approved a stock repurchase plan on Wednesday, June 28th that permits the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 4.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 1st were given a $0.12 dividend. This is an increase from Bank of America Corporation’s previous quarterly dividend of $0.08. The ex-dividend date was Wednesday, August 30th. This represents a $0.48 annualized dividend and a dividend yield of 1.86%. Bank of America Corporation’s dividend payout ratio is presently 28.57%.

In other news, Director Frank P. Bramble sold 86,763 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $24.16, for a total value of $2,096,194.08. Following the transaction, the director now owns 50,000 shares of the company’s stock, valued at $1,208,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

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Bank of America Corporation Company Profile

Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers and others with a range of banking, investing, asset management and other financial and risk management products and services. The Company, through its banking and various non-bank subsidiaries, throughout the United States and in international markets, provides a range of banking and non-bank financial services and products through four business segments: Consumer Banking, which comprises Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S.

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Institutional Ownership by Quarter for Bank of America Corporation (NYSE:BAC)

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