3Chopt Investment Partners LLC Has $1.60 Million Stock Holdings in Bank of America Co. (NYSE:BAC)

3Chopt Investment Partners LLC increased its stake in Bank of America Co. (NYSE:BAC) by 9.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,377 shares of the financial services provider’s stock after acquiring an additional 3,369 shares during the quarter. 3Chopt Investment Partners LLC’s holdings in Bank of America were worth $1,602,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Two Sigma Advisers LP boosted its position in shares of Bank of America by 31,021.6% during the 3rd quarter. Two Sigma Advisers LP now owns 10,207,900 shares of the financial services provider’s stock valued at $405,049,000 after purchasing an additional 10,175,100 shares in the last quarter. 1832 Asset Management L.P. increased its stake in shares of Bank of America by 1,432.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 6,151,042 shares of the financial services provider’s stock valued at $244,627,000 after acquiring an additional 5,749,567 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Bank of America by 193.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,608,305 shares of the financial services provider’s stock valued at $301,898,000 after purchasing an additional 5,015,378 shares during the period. International Assets Investment Management LLC raised its position in shares of Bank of America by 3,550.7% during the third quarter. International Assets Investment Management LLC now owns 4,547,788 shares of the financial services provider’s stock worth $1,804,560,000 after purchasing an additional 4,423,215 shares during the period. Finally, D1 Capital Partners L.P. bought a new stake in shares of Bank of America during the third quarter worth about $174,858,000. 70.71% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Bank of America news, major shareholder Berkshire Hathaway Inc sold 1,722,523 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $39.40, for a total value of $67,867,406.20. Following the completion of the sale, the insider now owns 794,120,913 shares in the company, valued at $31,288,363,972.20. This represents a 0.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 55,223,897 shares of company stock worth $2,232,505,985. 0.29% of the stock is currently owned by company insiders.

Bank of America Price Performance

NYSE BAC opened at $45.93 on Tuesday. Bank of America Co. has a 1 year low of $30.45 and a 1 year high of $48.08. The stock’s 50-day moving average price is $43.87 and its two-hundred day moving average price is $41.33. The company has a market cap of $352.42 billion, a PE ratio of 16.70, a PEG ratio of 1.58 and a beta of 1.33. 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 issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.78 by $0.03. The business had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.25 billion. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. The firm’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.90 EPS. On average, analysts predict that Bank of America Co. will post 3.27 EPS for the current year.

Bank of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 6th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.26%. The ex-dividend date is Friday, December 6th. Bank of America’s dividend payout ratio is currently 37.82%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on BAC shares. StockNews.com upgraded Bank of America from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Evercore ISI boosted their target price on shares of Bank of America from $44.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Keefe, Bruyette & Woods upped their price target on shares of Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Morgan Stanley downgraded shares of Bank of America from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $48.00 to $55.00 in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft raised 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 note on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $45.92.

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.