Bank of America Corp. (NYSE: BAC) by 10.9% during the third quarter, according to the company’s most recent 13F filing with the SEC. 89,100 shares of the financial services provider after stocking 10,900 shares during the quarter. TCW Group Inc.’s holdings in Bank of America were worth $ 2,258,000 at the end of the most recent reporting period.
Other stakes in the company. Trust Co grew its position in Bank of America by 7.4% in the first quarter. Trust Co now owns 152,988 shares of the financial services provider’s stock worth $ 3,609,000 after acquiring an additional 10,485 shares in the last quarter. Burns J W & Co. Inc. NY grew its position in Bank of America by 6.2% in the second quarter. Burns J W & Co. Inc. NY now owns 38,299 shares of the financial services provider’s stock worth $ 929,000 after acquiring an additional 2,251 shares in the last quarter. Beacon Financial Group grew its position in the Bank of America by 17.6% in the second quarter. Beacon Financial Group now owns 15,799 shares of the financial services provider’s stock worth $ 384,000 after acquiring an additional 2,369 shares in the last quarter. Neville Rodie & Shaw Inc. grew its position in Bank of America by 21.2% in the second quarter. Neville Rodie & Shaw Inc. now owns 51,735 shares of the financial services provider’s stock worth $ 1,255,000 after acquiring an additional 9,052 shares in the last quarter. Finally, First Command Bank grew its position in Bank of America by 99.8% in the second quarter. First Command Bank now owns 30,620 shares of the financial services provider’s stock worth $ 742,000 after acquiring an additional 15,296 shares in the last quarter. Hedge funds and other institutional investors 68.43% of the company’s stock.
Shares of Bank of America Corp. NYSE: BAC ) opened at $ 31.19 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.91. Bank of America Corp. has a 1-year low of $ 22.01 and a 1-year high of $ 31.20. The firm has a market cap of $ 325,330.00, a price-to-earnings ratio of 18.13, a price-to-earnings-growth ratio of 1.70 and a beta of 1.32.
Bank of America (NYSE: BAC) last released its quarterly earnings on Friday, October 13th. The financial services provider reported $ 0.48 per share for the quarter, beating analysts’ consensus estimates of $ 0.46 by $ 0.02. Bank of America had a net margin of 20.66% and a return on equity of 8.33%. The firm had revenue of $ 22.08 billion during the quarter, compared to the consensus estimate of $ 22.07 billion. During the same period in the prior year, the firm earned $ 0.41 EPS. The business’s revenue was up 2.1% on a year-over-year basis. equities research analysts predict that Bank of America Corp. will post 1.79 earnings per share for the current year.
Bank of America announced that its Board of Directors authorized repurchase plan on Tuesday, December 5th, author of the repurchase $ 5.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes it is undervalued.
The business also recently declared a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 1st were issued at $ 0.12 dividend. This represents a $ 0.48 annualized dividend yield and a yield of 1.54%. The ex-dividend date was Thursday, November 30th. Bank of America’s dividend payout ratio (DPR) is presently 27.91%.
Several analysts have commented on the stock. Vetr downgraded shares of Bank of America from a “strong-buy” rating to a “buy” rating and set at $ 33.89 target price for the company. in a research report on Wednesday. Robert W. Baird reaffirmed a “hold” rating and set a $ 24.00. Deutsche Bank reaffirmed a “hold” rating and set a $ 25.00 objective price (up from $ 23.00) on the Bank of America in a report on Tuesday, September 26th. BMO Capital Markets reaffirmed a “hold” rating and a $ 31.00 price objective on shares of Bank of America in a report on Monday, January 8th. Finally, BidaskClub raised shares of Bank of America from a “sell” rating to a “hold” rating in a report on Friday, September 22nd. One equities research analyst has rated the value of a stock market, has issued a rating, and has given a rating and has assigned a strong buy rating to the stock company. The company has a consensus rating of “Buy” and an average price target of $ 29.14.
ILLEGAL ACTIVITY NOTICE: “TCW Group Inc. Reduces Holdings in Bank of America Corp. (BAC)” was published by Dispatch Tribunal and is the property of the Dispatch Tribunal. If you are reading this article on another publication, it has been copied illegally and republished in violation of U.S. & international trademark and copyright legislation. The legal version of this document can be viewed at https://www.dispatchtribunal.com/2018/01/14/tcw-group-inc-reduces-holdings-in-bank-of-america-corp-bac.html.
About Bank of America
Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers and others with a range of banking, investment, asset management and other financial and risk management products and services. The Company, through its banking and other non-bank subsidiaries, provides a range of banking and non-bank financial services through its business segments: Consumer Banking, which includes Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S.
Want to see what other hedge funds are holding BAC? Visit HoldingsChannel.com Bank of America Corp. (NYSE: BAC).
Receive News & Ratings for Bank of America Daily – concise daily summary of the latest news and analysts’ ratings for Bank of America and related companies MarketBeat.com’s FREE daily email newsletter .