Waldron Private Wealth LLC Has $2.24 Million Stock Holdings in Bank of America Co. (NYSE:BAC)

Waldron Private Wealth LLC lifted its position in shares of Bank of America Co. (NYSE:BAC) by 8.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 56,535 shares of the financial services provider’s stock after buying an additional 4,360 shares during the quarter. Waldron Private Wealth LLC’s holdings in Bank of America were worth $2,243,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Fairway Wealth LLC bought a new stake in Bank of America in the 2nd quarter valued at about $27,000. Delos Wealth Advisors LLC boosted its stake in shares of Bank of America by 402.2% in the first quarter. Delos Wealth Advisors LLC now owns 683 shares of the financial services provider’s stock valued at $26,000 after buying an additional 547 shares during the period. POM Investment Strategies LLC grew its position in Bank of America by 839.0% during the second quarter. POM Investment Strategies LLC now owns 723 shares of the financial services provider’s stock worth $29,000 after buying an additional 646 shares in the last quarter. Bbjs Financial Advisors LLC bought a new position in Bank of America during the 2nd quarter worth $30,000. Finally, Northwest Investment Counselors LLC acquired a new position in Bank of America in the 1st quarter valued at $33,000. Institutional investors own 70.71% of the company’s stock.

Bank of America Trading Up 1.1 %

NYSE:BAC traded up $0.48 during trading hours on Tuesday, hitting $42.24. 22,426,025 shares of the company were exchanged, compared to its average volume of 38,724,063. The stock has a market capitalization of $330.33 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 1.39 and a beta of 1.33. Bank of America Co. has a one year low of $24.96 and a one year high of $44.44. The company has a fifty day simple moving average of $39.97 and a 200 day simple moving average of $39.47. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.09.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.03. The company had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.25 billion. Bank of America had a return on equity of 10.56% and a net margin of 13.28%. The firm’s quarterly revenue was up .4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.90 earnings per share. Sell-side analysts expect that Bank of America Co. will post 3.25 EPS for the current fiscal year.

Bank of America announced that its Board of Directors has approved a share buyback plan on Wednesday, July 24th that permits the company to repurchase $25.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 7.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Bank of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 6th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.46%. The ex-dividend date is Friday, December 6th. Bank of America’s dividend payout ratio (DPR) is presently 35.99%.

Insider Buying and Selling

In other Bank of America news, insider Lindsay D. Hans sold 10,901 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $36.91, for a total transaction of $402,355.91. Following the completion of the sale, the insider now directly owns 10,907 shares in the company, valued at approximately $402,577.37. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, major shareholder Berkshire Hathaway Inc sold 7,526,661 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $41.70, for a total transaction of $313,861,763.70. Following the transaction, the insider now directly owns 966,911,316 shares of the company’s stock, valued at $40,320,201,877.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lindsay D. Hans sold 10,901 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $36.91, for a total transaction of $402,355.91. Following the completion of the sale, the insider now owns 10,907 shares of the company’s stock, valued at $402,577.37. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 138,284,099 shares of company stock valued at $5,593,609,660 over the last quarter. Insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

BAC has been the topic of several analyst reports. Evercore ISI increased their target price on Bank of America from $44.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Phillip Securities raised shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 target price on the stock in a report on Friday. Cfra reaffirmed a “sell” rating and set a $39.00 price target on shares of Bank of America in a report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research report on Tuesday, September 3rd. Finally, Barclays raised their target price on Bank of America from $49.00 to $53.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.69.

Bank of America Profile

Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. It operates in four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.