Werba Rubin Papier Wealth Management Has $436,000 Stock Holdings in Bank of America Co. (NYSE:BAC)

Werba Rubin Papier Wealth Management raised its stake in Bank of America Co. (NYSE:BAC) by 26.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,998 shares of the financial services provider’s stock after buying an additional 2,282 shares during the period. Werba Rubin Papier Wealth Management’s holdings in Bank of America were worth $436,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BAC. Delos Wealth Advisors LLC increased its holdings in Bank of America by 402.2% in the 1st quarter. Delos Wealth Advisors LLC now owns 683 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 547 shares in the last quarter. Fairway Wealth LLC bought a new stake in shares of Bank of America during the second quarter worth about $27,000. POM Investment Strategies LLC increased its stake in shares of Bank of America by 839.0% in the second quarter. POM Investment Strategies LLC now owns 723 shares of the financial services provider’s stock valued at $29,000 after buying an additional 646 shares during the period. Bbjs Financial Advisors LLC acquired a new stake in Bank of America during the 2nd quarter worth approximately $30,000. Finally, Northwest Investment Counselors LLC bought a new stake in Bank of America during the 1st quarter worth approximately $33,000. Institutional investors own 70.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BAC. StockNews.com raised shares of Bank of America from a “sell” rating to a “hold” rating in a research note on Wednesday. Jefferies Financial Group lifted their target price on Bank of America from $39.00 to $41.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Barclays increased 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. Piper Sandler raised Bank of America from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $37.00 to $42.00 in a research note on Tuesday, July 9th. Finally, Morgan Stanley raised their price target on shares of Bank of America from $47.00 to $48.00 and gave the stock an “overweight” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, nine have assigned 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, Bank of America has a consensus rating of “Moderate Buy” and a consensus target price of $42.69.

Bank of America Trading Down 0.7 %

Shares of Bank of America stock opened at $42.32 on Friday. The stock has a market capitalization of $330.96 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 1.39 and a beta of 1.33. Bank of America Co. has a 52 week low of $24.96 and a 52 week high of $44.44. The stock has a 50 day moving average price of $39.89 and a two-hundred day moving average price of $39.43. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.80 and a current ratio of 0.80.

Bank of America (NYSE:BAC) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.03. Bank of America had a net margin of 13.28% and a return on equity of 10.56%. The business had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.25 billion. During the same quarter last year, the firm posted $0.90 EPS. Bank of America’s revenue was up .4% compared to the same quarter last year. As a group, equities analysts anticipate that Bank of America Co. will post 3.25 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 6th will be given 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 payout ratio is presently 35.99%.

Bank of America declared that its board has initiated a stock repurchase plan on Wednesday, July 24th that allows the company to repurchase $25.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 7.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Bank of America

In other Bank of America news, major shareholder Berkshire Hathaway Inc sold 6,349,021 shares of the business’s stock in a transaction that occurred 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 approximately $42,096,677,379.78. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Bernard A. Mensah sold 92,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $39.80, for a total transaction of $3,661,600.00. Following the transaction, the insider now directly owns 96,082 shares of the company’s stock, valued at $3,824,063.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Berkshire Hathaway Inc sold 6,349,021 shares of the company’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 of the company’s stock, valued at $42,096,677,379.78. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 144,633,120 shares of company stock valued at $5,862,871,640. 0.29% of the stock is owned by corporate insiders.

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.