Bank of America Corporation (BAC) Shares Bought by Sheaff Brock Investment Advisors LLC

Sheaff Brock Investment Advisors LLC increased its stake in shares of Bank of America Corporation (NYSE:BAC) by 3.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 288,662 shares of the financial services provider’s stock after acquiring an additional 10,019 shares during the quarter. Bank of America Corporation comprises approximately 0.9% of Sheaff Brock Investment Advisors LLC’s portfolio, making the stock its 22nd largest holding. Sheaff Brock Investment Advisors LLC’s holdings in Bank of America Corporation were worth $7,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently made changes to their positions in the stock. Korea Investment CORP raised its stake in Bank of America Corporation by 0.5% during the 2nd quarter. Korea Investment CORP now owns 78,908,445 shares of the financial services provider’s stock worth $1,914,319,000 after acquiring an additional 390,771 shares in the last quarter. Legal & General Group Plc raised its stake in Bank of America Corporation by 2.0% during the 2nd quarter. Legal & General Group Plc now owns 50,797,049 shares of the financial services provider’s stock worth $1,232,414,000 after acquiring an additional 1,007,405 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Bank of America Corporation by 0.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 33,108,834 shares of the financial services provider’s stock worth $803,221,000 after acquiring an additional 173,379 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in Bank of America Corporation by 1.9% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 30,340,696 shares of the financial services provider’s stock worth $736,065,000 after purchasing an additional 553,349 shares during the last quarter. Finally, APG Asset Management N.V. grew its position in Bank of America Corporation by 14.8% during the 2nd quarter. APG Asset Management N.V. now owns 30,054,575 shares of the financial services provider’s stock worth $729,124,000 after purchasing an additional 3,868,186 shares during the last quarter. Hedge funds and other institutional investors own 62.19% of the company’s stock.

Several brokerages have issued reports on BAC. BidaskClub downgraded shares of Bank of America Corporation from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 9th. Robert W. Baird reissued a “hold” rating and set a $24.00 price objective on shares of Bank of America Corporation in a research report on Sunday, October 1st. Deutsche Bank AG reissued a “hold” rating and set a $25.00 price objective (up from $23.00) on shares of Bank of America Corporation in a research report on Tuesday, September 26th. Jefferies Group LLC reissued a “buy” rating and set a $28.00 price objective on shares of Bank of America Corporation in a research report on Friday, August 11th. Finally, Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $30.00 price objective (up from $29.00) on shares of Bank of America Corporation in a research report on Friday, July 21st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-four have given a buy rating and three have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $25.82.

Bank of America Corporation (NYSE BAC) opened at $26.62 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.91 and a quick ratio of 0.90. The firm has a market cap of $279,120.00, a P/E ratio of 14.99, a PEG ratio of 1.82 and a beta of 1.31. Bank of America Corporation has a 52-week low of $19.87 and a 52-week high of $27.98.

Bank of America Corporation (NYSE:BAC) last posted its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. The business had revenue of $22.08 billion during the quarter, compared to analyst estimates of $22.07 billion. Bank of America Corporation had a net margin of 20.66% and a return on equity of 8.33%. The company’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.41 earnings per share. analysts forecast that Bank of America Corporation will post 1.8 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date is Thursday, November 30th. Bank of America Corporation’s dividend payout ratio is presently 27.91%.

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Bank of America Corporation Profile

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, investing, asset management and other financial and risk management products and services. The Company, through its banking and various non-bank subsidiaries, throughout the United States and in international markets, provides a range of banking and non-bank financial services and products through four business segments: Consumer Banking, which comprises Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S.

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

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