QV Investors Inc. Has $6.30 Million Position in Bank of America Co. (NYSE:BAC)

QV Investors Inc. trimmed its holdings in shares of Bank of America Co. (NYSE:BAC) by 25.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 143,240 shares of the financial services provider’s stock after selling 50,025 shares during the quarter. QV Investors Inc.’s holdings in Bank of America were worth $6,295,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of BAC. Thomasville National Bank increased its position in shares of Bank of America by 7.6% during the fourth quarter. Thomasville National Bank now owns 63,563 shares of the financial services provider’s stock worth $2,794,000 after acquiring an additional 4,489 shares in the last quarter. Trust Co. of Toledo NA OH increased its holdings in Bank of America by 6.6% during the 4th quarter. Trust Co. of Toledo NA OH now owns 14,160 shares of the financial services provider’s stock worth $622,000 after purchasing an additional 872 shares in the last quarter. Fiduciary Alliance LLC lifted its holdings in shares of Bank of America by 127.2% in the fourth quarter. Fiduciary Alliance LLC now owns 56,014 shares of the financial services provider’s stock valued at $2,462,000 after purchasing an additional 31,356 shares in the last quarter. Winthrop Advisory Group LLC boosted its position in shares of Bank of America by 5.2% during the fourth quarter. Winthrop Advisory Group LLC now owns 32,864 shares of the financial services provider’s stock worth $1,444,000 after buying an additional 1,612 shares during the period. Finally, EWG Elevate Inc. bought a new position in shares of Bank of America during the fourth quarter worth about $207,000. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc sold 8,694,538 shares of Bank of America stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $42.55, for a total value of $369,952,591.90. Following the transaction, the insider now directly owns 766,305,462 shares of the company’s stock, valued at $32,606,297,408.10. The trade was a 1.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is currently owned by insiders.

Bank of America Price Performance

NYSE:BAC traded down $0.07 during trading hours on Monday, hitting $45.04. The company’s stock had a trading volume of 14,235,071 shares, compared to its average volume of 30,749,668. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market capitalization of $345.59 billion, a P/E ratio of 16.38, a PEG ratio of 1.55 and a beta of 1.33. Bank of America Co. has a twelve month low of $31.27 and a twelve month high of $48.08. The stock has a fifty day simple moving average of $45.53 and a 200-day simple moving average of $42.22.

Bank of America (NYSE:BAC) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.03. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. The firm had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.25 billion. During the same quarter last year, the business posted $0.90 earnings per share. The company’s quarterly revenue was up .4% on a year-over-year basis. On average, analysts anticipate that Bank of America Co. will post 3.27 EPS for the current fiscal year.

Bank of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 6th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date was Friday, December 6th. Bank of America’s payout ratio is 37.82%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on BAC shares. Citigroup raised Bank of America from a “neutral” rating to a “buy” rating and upped their price target for the stock from $46.00 to $54.00 in a research report on Friday, November 8th. StockNews.com raised shares of Bank of America from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. HSBC raised shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, January 7th. Barclays lifted their target price on Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. 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 equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.50.

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.