Integris Wealth Management LLC Boosts Holdings in Bank of America Co. (NYSE:BAC)

Integris Wealth Management LLC raised its holdings in Bank of America Co. (NYSE:BAC) by 10.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,688 shares of the financial services provider’s stock after buying an additional 970 shares during the quarter. Integris Wealth Management LLC’s holdings in Bank of America were worth $424,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Moss Adams Wealth Advisors LLC grew its holdings in shares of Bank of America by 34.4% during the 3rd quarter. Moss Adams Wealth Advisors LLC now owns 23,078 shares of the financial services provider’s stock worth $916,000 after purchasing an additional 5,913 shares during the period. Accurate Wealth Management LLC grew its holdings in shares of Bank of America by 1.9% during the 3rd quarter. Accurate Wealth Management LLC now owns 34,140 shares of the financial services provider’s stock worth $1,438,000 after purchasing an additional 641 shares during the period. Net Worth Advisory Group purchased a new stake in shares of Bank of America during the 3rd quarter worth about $232,000. Precedent Wealth Partners LLC grew its holdings in shares of Bank of America by 18.2% during the 3rd quarter. Precedent Wealth Partners LLC now owns 33,864 shares of the financial services provider’s stock worth $1,344,000 after purchasing an additional 5,222 shares during the period. Finally, Aspiriant LLC grew its holdings in shares of Bank of America by 1.4% during the 3rd quarter. Aspiriant LLC now owns 34,690 shares of the financial services provider’s stock worth $1,376,000 after purchasing an additional 485 shares during the period. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Insider Activity

In other news, major shareholder Berkshire Hathaway Inc sold 6,349,021 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $42.41, for a total transaction of $269,261,980.61. Following the completion of the sale, the insider now directly owns 992,612,058 shares of the company’s stock, valued at $42,096,677,379.78. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Bank of America news, major shareholder Berkshire Hathaway Inc sold 6,349,021 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $42.41, for a total transaction of $269,261,980.61. Following the completion of the sale, the insider now directly owns 992,612,058 shares in the company, valued at approximately $42,096,677,379.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Lindsay D. Hans sold 10,901 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $36.91, for a total value of $402,355.91. Following the sale, the insider now owns 10,907 shares of the company’s stock, valued at $402,577.37. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 144,633,120 shares of company stock valued at $5,862,871,640 over the last three months. Insiders own 0.29% of the company’s stock.

Bank of America Stock Performance

BAC traded down $0.28 during trading on Friday, reaching $42.32. 30,593,526 shares of the company were exchanged, compared to its average volume of 38,864,773. The stock has a market cap of $330.96 billion, a P/E ratio of 14.65, a PEG ratio of 1.39 and a beta of 1.33. The firm has a 50 day moving average of $39.89 and a 200 day moving average of $39.41. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.09. Bank of America Co. has a 52 week low of $24.96 and a 52 week high of $44.44.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.03. Bank of America had a return on equity of 10.56% and a net margin of 13.28%. The firm had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.25 billion. During the same period in the prior year, the business earned $0.90 EPS. The firm’s revenue was up .4% on a year-over-year basis. On average, sell-side analysts forecast that Bank of America Co. will post 3.25 EPS for the current fiscal year.

Bank of America announced that its board has authorized a share buyback program on Wednesday, July 24th that permits the company to buyback $25.00 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 7.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Bank of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.46%. The ex-dividend date is Friday, December 6th. Bank of America’s dividend payout ratio is 35.99%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Jefferies Financial Group boosted their price target on Bank of America from $39.00 to $41.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Seaport Res Ptn raised Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 2nd. Piper Sandler Companies raised Bank of America from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $37.00 to $42.00 in a research report on Tuesday, July 9th. Morgan Stanley boosted their price target on Bank of America from $47.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $46.00 price target on shares of Bank of America in a research report on Wednesday, October 9th. 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $42.69.

Bank of America Company 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.