Bradley Foster & Sargent Inc. CT Has $4.15 Million Holdings in Bank of America Corporation (BAC)

Bradley Foster & Sargent Inc. CT lessened its holdings in shares of Bank of America Corporation (NYSE:BAC) by 2.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 171,099 shares of the financial services provider’s stock after selling 4,389 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in Bank of America Corporation were worth $4,151,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of BAC. Northwest Investment Counselors LLC purchased a new stake in shares of Bank of America Corporation during the 2nd quarter valued at $100,000. Armbruster Capital Management Inc. raised its stake in Bank of America Corporation by 10.8% in the 1st quarter. Armbruster Capital Management Inc. now owns 4,323 shares of the financial services provider’s stock worth $102,000 after acquiring an additional 423 shares during the last quarter. Chicago Partners Investment Group LLC raised its stake in Bank of America Corporation by 11.0% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 4,531 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 450 shares during the last quarter. Tarbox Family Office Inc. raised its stake in Bank of America Corporation by 0.4% in the 2nd quarter. Tarbox Family Office Inc. now owns 4,809 shares of the financial services provider’s stock worth $117,000 after acquiring an additional 21 shares during the last quarter. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. raised its stake in Bank of America Corporation by 47.1% in the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 5,780 shares of the financial services provider’s stock worth $140,000 after acquiring an additional 1,850 shares during the last quarter. Hedge funds and other institutional investors own 62.19% of the company’s stock.

Bank of America Corporation (NYSE BAC) opened at $26.24 on Wednesday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.90 and a current ratio of 0.91. The company has a market cap of $275,368.09, a price-to-earnings ratio of 15.09, a P/E/G ratio of 1.83 and a beta of 1.31. Bank of America Corporation has a 12 month low of $19.60 and a 12 month high of $27.98.

Bank of America Corporation (NYSE:BAC) last issued its earnings results on Friday, October 13th. The financial services provider reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. The firm had revenue of $22.08 billion during the quarter, compared to the consensus estimate of $22.07 billion. Bank of America Corporation had a net margin of 20.66% and a return on equity of 8.33%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.41 earnings per share. analysts expect that Bank of America Corporation will post 1.8 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 1st will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.83%. Bank of America Corporation’s payout ratio is currently 27.43%.

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A number of brokerages recently issued reports on BAC. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $30.00 target price (up previously from $29.00) on shares of Bank of America Corporation in a research note on Friday, July 21st. BidaskClub upgraded Bank of America Corporation from a “sell” rating to a “hold” rating in a research note on Friday, September 22nd. UBS AG set a $27.00 price target on Bank of America Corporation and gave the stock a “hold” rating in a research report on Monday, October 16th. BMO Capital Markets reaffirmed a “market perform” rating and set a $29.00 price target (up from $27.00) on shares of Bank of America Corporation in a research report on Monday, October 16th. Finally, Wells Fargo & Company started coverage on Bank of America Corporation in a research report on Wednesday, August 9th. They set an “outperform” rating and a $30.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-four have issued a buy rating and three have given a strong buy rating to the company. Bank of America Corporation has an average rating of “Buy” and an average price target of $25.82.

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.

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

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