Bank of America Co. (NYSE:BAC) Shares Sold by Kiley Juergens Wealth Management LLC

Kiley Juergens Wealth Management LLC trimmed its position in shares of Bank of America Co. (NYSE:BAC) by 10.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,438 shares of the financial services provider’s stock after selling 3,477 shares during the period. Kiley Juergens Wealth Management LLC’s holdings in Bank of America were worth $1,249,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Newton One Investments LLC acquired a new stake in Bank of America in the 2nd quarter valued at $29,000. PrairieView Partners LLC raised its stake in Bank of America by 162.5% during the third quarter. PrairieView Partners LLC now owns 727 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 450 shares during the period. Cowen Prime Advisors LLC acquired a new stake in shares of Bank of America in the second quarter valued at approximately $31,000. Mascoma Wealth Management LLC acquired a new stake in shares of Bank of America in the third quarter valued at approximately $36,000. Finally, Elmwood Wealth Management Inc. increased its stake in shares of Bank of America by 138.9% in the second quarter. Elmwood Wealth Management Inc. now owns 860 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 500 shares during the period. Institutional investors and hedge funds own 70.67% of the company’s stock.

In other Bank of America news, Director Frank P. Bramble sold 2,200 shares of the stock in a transaction on Tuesday, November 2nd. The shares were sold at an average price of $48.22, for a total value of $106,084.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Dean C. Athanasia sold 108,478 shares of the stock in a transaction dated Friday, October 15th. The shares were sold at an average price of $45.77, for a total transaction of $4,965,038.06. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by corporate insiders.

Several brokerages have commented on BAC. Wells Fargo & Company restated an “overweight” rating and issued a $60.00 price target (up previously from $55.00) on shares of Bank of America in a research note on Monday, October 25th. Wolfe Research lowered shares of Bank of America from an “outperform” rating to a “market perform” rating and set a $44.00 price objective on the stock. in a research note on Wednesday, October 13th. Morgan Stanley raised their price objective on shares of Bank of America from $38.00 to $42.00 and gave the company an “underweight” rating in a research note on Thursday, July 29th. Odeon Capital Group upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $46.50 target price for the company in a report on Monday, September 13th. Finally, The Goldman Sachs Group raised their target price on shares of Bank of America from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, October 15th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $44.04.

NYSE:BAC traded up $0.28 on Wednesday, reaching $47.78. The stock had a trading volume of 730,748 shares, compared to its average volume of 48,334,852. The company has a market capitalization of $391.04 billion, a P/E ratio of 14.26, a price-to-earnings-growth ratio of 1.86 and a beta of 1.53. Bank of America Co. has a 1-year low of $27.92 and a 1-year high of $48.69. The company has a quick ratio of 0.73, a current ratio of 0.74 and a debt-to-equity ratio of 1.12. The stock has a fifty day moving average price of $45.06 and a 200-day moving average price of $42.29.

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

The company also recently announced a quarterly dividend, which will be paid on Friday, December 31st. Shareholders of record on Friday, December 3rd will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.76%. The ex-dividend date is Thursday, December 2nd. Bank of America’s payout ratio is presently 25.23%.

About Bank of America

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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