Bank of America Corporation (BAC) is Thompson Davis & CO. Inc.’s 3rd Largest Position

Thompson Davis & CO. Inc. reduced its holdings in Bank of America Corporation (NYSE:BAC) by 11.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 44,813 shares of the financial services provider’s stock after selling 5,558 shares during the quarter. Bank of America Corporation makes up 1.7% of Thompson Davis & CO. Inc.’s portfolio, making the stock its 3rd biggest holding. Thompson Davis & CO. Inc.’s holdings in Bank of America Corporation were worth $1,087,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Trust Co. of Virginia VA purchased a new stake in Bank of America Corporation during the first quarter valued at about $477,000. British Columbia Investment Management Corp grew its position in Bank of America Corporation by 7.8% during the first quarter. British Columbia Investment Management Corp now owns 5,102,702 shares of the financial services provider’s stock valued at $120,373,000 after acquiring an additional 368,216 shares during the period. Locust Wood Capital Advisers LLC grew its position in Bank of America Corporation by 486.2% during the first quarter. Locust Wood Capital Advisers LLC now owns 561,800 shares of the financial services provider’s stock valued at $13,253,000 after acquiring an additional 465,970 shares during the period. Cedar Capital LLC purchased a new stake in Bank of America Corporation during the first quarter valued at about $215,000. Finally, Affinity Investment Advisors LLC grew its position in Bank of America Corporation by 2.6% during the first quarter. Affinity Investment Advisors LLC now owns 1,353,837 shares of the financial services provider’s stock valued at $31,937,000 after acquiring an additional 34,246 shares during the period. Hedge funds and other institutional investors own 62.04% of the company’s stock.

Bank of America Corporation (BAC) opened at $26.73 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 stock has a market capitalization of $278,914.53, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 1.85 and a beta of 1.31. Bank of America Corporation has a one year low of $20.12 and a one year high of $27.98.

Bank of America Corporation (NYSE:BAC) last issued its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. The firm had revenue of $22.08 billion during the quarter, compared to analyst estimates of $22.07 billion. Bank of America Corporation had a return on equity of 8.33% and a net margin of 20.66%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the company posted $0.41 EPS. equities research analysts predict that Bank of America Corporation will post 1.81 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Thursday, November 30th. Bank of America Corporation’s payout ratio is currently 27.43%.

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BAC has been the subject of a number of research reports. Vetr raised Bank of America Corporation from a “hold” rating to a “buy” rating and set a $26.59 price target for the company in a research report on Monday, October 16th. BidaskClub raised Bank of America Corporation from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $28.00 target price on shares of Bank of America Corporation in a research report on Friday, August 11th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $25.00 target price (up previously from $23.00) on shares of Bank of America Corporation in a research report on Tuesday, September 26th. Finally, Royal Bank Of Canada upped their target price on Bank of America Corporation from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Monday, October 16th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-four have assigned a buy rating and three have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $25.82.

Bank of America Corporation 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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