Bank of America Co. (NYSE:BAC) Shares Acquired by Schneider Downs Wealth Management Advisors LP

Schneider Downs Wealth Management Advisors LP lifted its stake in Bank of America Co. (NYSE:BAC) by 47.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,069 shares of the financial services provider’s stock after buying an additional 2,589 shares during the quarter. Schneider Downs Wealth Management Advisors LP’s holdings in Bank of America were worth $343,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of BAC. Price T Rowe Associates Inc. MD lifted its holdings in Bank of America by 30.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 163,776,311 shares of the financial services provider’s stock valued at $6,752,497,000 after acquiring an additional 38,319,182 shares during the period. Amundi purchased a new position in shares of Bank of America during the 2nd quarter valued at approximately $604,014,000. Invesco Ltd. increased its holdings in shares of Bank of America by 20.9% during the 2nd quarter. Invesco Ltd. now owns 62,419,894 shares of the financial services provider’s stock valued at $2,573,572,000 after purchasing an additional 10,783,612 shares in the last quarter. Border to Coast Pensions Partnership Ltd purchased a new stake in Bank of America during the second quarter worth $157,794,851,000. Finally, Capital International Investors boosted its holdings in Bank of America by 20.9% during the second quarter. Capital International Investors now owns 30,497,713 shares of the financial services provider’s stock worth $1,257,411,000 after buying an additional 5,263,495 shares in the last quarter. 70.67% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group increased their target price on shares of Bank of America from $41.00 to $48.00 and gave the stock a “hold” rating in a research note on Monday, October 11th. Morgan Stanley increased their price target on Bank of America from $38.00 to $42.00 and gave the stock an “underweight” rating in a research report on Thursday, July 29th. Royal Bank of Canada boosted their price objective on Bank of America from $44.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, October 15th. Odeon Capital Group upgraded Bank of America from a “hold” rating to a “buy” rating and set a $46.50 target price on the stock in a research report on Monday, September 13th. Finally, Barclays boosted their price target on shares of Bank of America from $45.00 to $49.00 and gave the stock an “overweight” rating in a report on Friday, October 15th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $44.04.

In other Bank of America news, Director Frank P. Bramble sold 2,200 shares of the firm’s stock in a transaction that occurred on 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 accessible through the SEC website. Also, insider Dean C. Athanasia sold 108,478 shares of the firm’s stock in a transaction that occurred on Friday, October 15th. The stock was 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 insiders.

Shares of BAC opened at $47.63 on Thursday. Bank of America Co. has a one year low of $28.10 and a one year high of $48.69. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.73 and a current ratio of 0.74. The company has a market capitalization of $389.81 billion, a P/E ratio of 14.30, a P/E/G ratio of 1.86 and a beta of 1.53. The stock has a 50-day moving average price of $45.21 and a 200 day moving average price of $42.33.

Bank of America (NYSE:BAC) last issued its earnings results on Thursday, October 14th. The financial services provider reported $0.85 earnings per share (EPS) 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 firm had revenue of $22.77 billion for the quarter, compared to analysts’ expectations of $21.60 billion. During the same quarter last year, the company posted $0.51 earnings per share. Bank of America’s revenue was up 11.9% on a year-over-year basis. As a group, equities research analysts forecast that Bank of America Co. will post 3.49 earnings per share for the current fiscal year.

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