RPg Family Wealth Advisory LLC Invests $149,000 in Bank of America Co. (NYSE:BAC)

RPg Family Wealth Advisory LLC purchased a new stake in Bank of America Co. (NYSE:BAC) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 3,766 shares of the financial services provider’s stock, valued at approximately $149,000.

Several other hedge funds have also recently bought and sold shares of the company. Quent Capital LLC grew its holdings in Bank of America by 3.6% during the 1st quarter. Quent Capital LLC now owns 29,760 shares of the financial services provider’s stock valued at $1,129,000 after buying an additional 1,037 shares during the last quarter. Mount Yale Investment Advisors LLC acquired a new stake in shares of Bank of America during the first quarter valued at $237,000. Tidal Investments LLC boosted its stake in shares of Bank of America by 2.4% during the first quarter. Tidal Investments LLC now owns 237,572 shares of the financial services provider’s stock valued at $9,007,000 after acquiring an additional 5,666 shares during the last quarter. Montchanin Asset Management LLC purchased a new stake in shares of Bank of America during the first quarter worth about $516,000. Finally, Rokos Capital Management LLP purchased a new position in Bank of America during the first quarter worth about $114,947,000. 70.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BAC. Keefe, Bruyette & Woods boosted their target price on shares of Bank of America from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Barclays lifted their price target on shares of Bank of America from $49.00 to $53.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Morgan Stanley upped their price objective on Bank of America from $47.00 to $48.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Citigroup upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and raised their price target for the stock from $46.00 to $54.00 in a research report on Friday, November 8th. Finally, Oppenheimer boosted their price objective on Bank of America from $50.00 to $56.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.26.

Bank of America Price Performance

NYSE BAC opened at $47.97 on Wednesday. The business’s fifty day moving average is $42.57 and its two-hundred day moving average is $40.82. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.80 and a current ratio of 0.80. Bank of America Co. has a 1 year low of $29.32 and a 1 year high of $47.97. The stock has a market capitalization of $368.07 billion, a P/E ratio of 17.36, a P/E/G ratio of 1.61 and a beta of 1.32.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.03. The business had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.25 billion. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. Bank of America’s revenue for the quarter was up .4% on a year-over-year basis. During the same period in the previous year, the company earned $0.90 earnings per share. On average, research analysts forecast that Bank of America Co. will post 3.27 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 6th will be paid a dividend of $0.26 per share. The ex-dividend date is Friday, December 6th. This represents a $1.04 annualized dividend and a yield of 2.17%. Bank of America’s payout ratio is 37.82%.

Insider Buying and Selling at Bank of America

In other Bank of America news, major shareholder Berkshire Hathaway Inc sold 8,694,538 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $42.55, for a total value of $369,952,591.90. Following the sale, the insider now directly owns 766,305,462 shares in the company, valued at $32,606,297,408.10. This trade represents a 1.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold 77,946,615 shares of company stock valued at $3,152,226,690 in the last 90 days. 0.29% of the stock is currently owned by insiders.

About Bank of America

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.