Bank of America Co. (NYSE:BAC) Shares Sold by Warther Private Wealth LLC

Warther Private Wealth LLC decreased its position in shares of Bank of America Co. (NYSE:BAC) by 86.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,842 shares of the financial services provider’s stock after selling 217,314 shares during the period. Bank of America comprises approximately 0.5% of Warther Private Wealth LLC’s holdings, making the stock its 28th biggest holding. Warther Private Wealth LLC’s holdings in Bank of America were worth $1,303,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of BAC. McAdam LLC lifted its position in Bank of America by 2.1% during the 2nd quarter. McAdam LLC now owns 11,434 shares of the financial services provider’s stock worth $455,000 after buying an additional 238 shares in the last quarter. Integrity Financial Corp WA grew its stake in shares of Bank of America by 1.6% during the third quarter. Integrity Financial Corp WA now owns 14,875 shares of the financial services provider’s stock valued at $590,000 after purchasing an additional 240 shares during the last quarter. BTC Capital Management Inc. grew its stake in shares of Bank of America by 1.2% during the second quarter. BTC Capital Management Inc. now owns 20,248 shares of the financial services provider’s stock valued at $805,000 after purchasing an additional 248 shares during the last quarter. Central Bank & Trust Co. raised its position in Bank of America by 15.1% in the 2nd quarter. Central Bank & Trust Co. now owns 1,892 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 248 shares during the last quarter. Finally, SNS Financial Group LLC raised its position in shares of Bank of America by 3.3% during the second quarter. SNS Financial Group LLC now owns 7,783 shares of the financial services provider’s stock worth $310,000 after acquiring an additional 248 shares during the last quarter. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Bank of America news, insider Lindsay D. Hans sold 10,901 shares of Bank of America 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 transaction, the insider now owns 10,907 shares in the company, valued at $402,577.37. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Bank of America news, insider Lindsay D. Hans sold 10,901 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $36.91, for a total transaction of $402,355.91. Following the sale, the insider now directly owns 10,907 shares of the company’s stock, valued at $402,577.37. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Berkshire Hathaway Inc sold 6,993,520 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $40.63, for a total transaction of $284,146,717.60. Following the transaction, the insider now directly owns 948,077,805 shares of the company’s stock, valued at $38,520,401,217.15. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 125,336,839 shares of company stock worth $5,049,968,704. Corporate insiders own 0.29% of the company’s stock.

Bank of America Stock Up 0.2 %

Bank of America stock opened at $42.73 on Friday. Bank of America Co. has a fifty-two week low of $24.96 and a fifty-two week high of $44.44. The firm has a market capitalization of $331.57 billion, a PE ratio of 15.51, a P/E/G ratio of 1.43 and a beta of 1.33. The company’s 50-day moving average is $40.11 and its 200-day moving average is $39.53. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.80 and a quick ratio of 0.80.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.03. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. The company had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.25 billion. During the same period last year, the firm posted $0.90 earnings per share. The business’s revenue was up .4% on a year-over-year basis. Sell-side analysts anticipate that Bank of America Co. will post 3.26 earnings per share for the current year.

Bank of America announced that its Board of Directors has authorized a share buyback program on Wednesday, July 24th that allows the company to buyback $25.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 7.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 6th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Friday, December 6th. Bank of America’s dividend payout ratio is currently 37.82%.

Analysts Set New Price Targets

A number of research firms recently weighed in on BAC. Evercore ISI boosted their price target on shares of Bank of America from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Seaport Res Ptn raised Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 2nd. Barclays upped their price target on Bank of America from $49.00 to $53.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. BMO Capital Markets raised their price objective on Bank of America from $38.00 to $40.00 and gave the stock a “market perform” rating in a research note on Thursday, July 18th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $46.00 price target on shares of Bank of America in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $42.69.

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.