C J Advisory Inc. Takes Position in Bank of America Co. (NYSE:BAC)

C J Advisory Inc. acquired a new stake in Bank of America Co. (NYSE:BAC) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,819 shares of the financial services provider’s stock, valued at approximately $204,000.

Other large investors have also recently modified their holdings of the company. Camden National Bank raised its holdings in shares of Bank of America by 9.8% in the 4th quarter. Camden National Bank now owns 11,568 shares of the financial services provider’s stock valued at $351,000 after buying an additional 1,030 shares during the period. Tudor Investment Corp Et Al increased its holdings in Bank of America by 294.9% during the 1st quarter. Tudor Investment Corp Et Al now owns 38,518 shares of the financial services provider’s stock worth $1,490,000 after purchasing an additional 28,763 shares during the period. Bridgewater Advisors Inc. purchased a new stake in Bank of America during the 1st quarter worth about $309,000. Beacon Investment Advisory Services Inc. increased its holdings in Bank of America by 14.9% during the 1st quarter. Beacon Investment Advisory Services Inc. now owns 29,460 shares of the financial services provider’s stock worth $1,140,000 after purchasing an additional 3,826 shares during the period. Finally, Colony Group LLC boosted its position in shares of Bank of America by 32.8% during the 1st quarter. Colony Group LLC now owns 60,278 shares of the financial services provider’s stock worth $2,332,000 after acquiring an additional 14,885 shares in the last quarter. 70.67% of the stock is currently owned by hedge funds and other institutional investors.

In other Bank of America news, Director Frank P. Bramble sold 2,200 shares of the firm’s stock in a transaction dated Tuesday, November 2nd. The stock was sold at an average price of $48.22, for a total value of $106,084.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Dean C. Athanasia sold 108,478 shares of the firm’s stock in a transaction dated Friday, October 15th. The shares were sold at an average price of $45.77, for a total value of $4,965,038.06. The disclosure for this sale can be found here. 0.22% of the stock is owned by company insiders.

A number of analysts recently issued reports on the company. Evercore ISI upped their target price on Bank of America from $43.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, October 15th. They noted that the move was a valuation call. Jefferies Financial Group increased their price objective on Bank of America from $41.00 to $48.00 and gave the stock a “hold” rating in a research report on Monday, October 11th. Oppenheimer increased their price objective on Bank of America from $48.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday, October 15th. Robert W. Baird cut Bank of America from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $47.17 to $42.00 in a research report on Monday, November 1st. They noted that the move was a valuation call. Finally, Wolfe Research cut Bank of America from an “outperform” rating to a “market perform” rating and set a $44.00 price objective for the company. in a research report on Wednesday, October 13th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, Bank of America presently has a consensus rating of “Buy” and a consensus price target of $44.04.

Bank of America stock traded up $0.33 during mid-day trading on Wednesday, hitting $47.83. 359,680 shares of the company were exchanged, compared to its average volume of 48,334,852. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.74 and a quick ratio of 0.73. The business’s 50 day simple moving average is $45.06 and its two-hundred day simple moving average is $42.29. The company has a market capitalization of $391.44 billion, a P/E ratio of 14.26, a PEG ratio of 1.86 and a beta of 1.53. Bank of America Co. has a 12-month low of $27.92 and a 12-month high of $48.69.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Thursday, October 14th. The financial services provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.14. Bank of America had a return on equity of 12.16% and a net margin of 33.10%. The company had revenue of $22.77 billion during the quarter, compared to the consensus estimate of $21.60 billion. During the same quarter last year, the business posted $0.51 earnings per share. Bank of America’s revenue was up 11.9% compared to the same quarter last year. Equities research analysts predict that Bank of America Co. will post 3.49 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 31st. Stockholders of record on Friday, December 3rd will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Thursday, December 2nd. Bank of America’s dividend payout ratio (DPR) is 25.23%.

Bank of America Profile

Bank of America Corp. is a bank and financial holding company, which engages in the provision of banking and nonbank financial services. It operates through the following segments: Consumer Banking, Global Wealth and Investment Management, Global Banking, Global Markets, and All Other. The Consumer Banking segment offers credit, banking, and investment products and services to consumers and small businesses.

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Institutional Ownership by Quarter for Bank of America (NYSE:BAC)

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