Bank of America Co. (NYSE:BAC) Shares Sold by Thompson Siegel & Walmsley LLC

Thompson Siegel & Walmsley LLC lessened its holdings in shares of Bank of America Co. (NYSE:BAC) by 3.9% in the third quarter, HoldingsChannel reports. The fund owned 278,583 shares of the financial services provider’s stock after selling 11,412 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in Bank of America were worth $11,054,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Fairway Wealth LLC purchased a new stake in Bank of America during the second quarter valued at about $27,000. POM Investment Strategies LLC raised its holdings in shares of 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 acquiring an additional 646 shares in the last quarter. Kennebec Savings Bank acquired a new stake in shares of Bank of America during the 3rd quarter valued at about $29,000. Bbjs Financial Advisors LLC acquired a new position in shares of Bank of America during the 2nd quarter worth $30,000. Finally, Christopher J. Hasenberg Inc raised its holdings in Bank of America by 525.9% during the third quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock valued at $40,000 after buying an additional 852 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Phillip Securities raised shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price objective for the company in a report on Friday, October 18th. 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 research note on Wednesday, October 16th. Citigroup upgraded Bank of America from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $46.00 to $54.00 in a research report on Friday, November 8th. Wells Fargo & Company increased their price target on shares of Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft upgraded 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. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Bank of America currently has an average rating of “Moderate Buy” and a consensus target price of $44.26.

Bank of America Stock Performance

BAC opened at $46.55 on Friday. The company has a market capitalization of $357.13 billion, a price-to-earnings ratio of 16.93, a P/E/G ratio of 1.57 and a beta of 1.32. The business’s 50-day moving average price is $42.07 and its two-hundred day moving average price is $40.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.80 and a quick ratio of 0.80. Bank of America Co. has a 1 year low of $29.32 and a 1 year high of $47.05.

Bank of America (NYSE:BAC) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.03. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. The firm had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.25 billion. During the same period last year, the company earned $0.90 earnings per share. The business’s revenue was up .4% compared to the same quarter last year. Equities analysts expect that Bank of America Co. will post 3.27 EPS for the current fiscal year.

Bank of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 6th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.04 dividend on an annualized basis and a yield of 2.23%. Bank of America’s dividend payout ratio (DPR) is 37.82%.

Insider Buying and Selling

In other news, major shareholder Berkshire Hathaway Inc sold 10,975,008 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $39.87, for a total transaction of $437,573,568.96. Following the sale, the insider now directly owns 910,731,659 shares in the company, valued at approximately $36,310,871,244.33. The trade was a 1.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Bernard A. Mensah sold 92,000 shares of Bank of America stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $39.80, for a total value of $3,661,600.00. Following the transaction, the insider now directly owns 96,082 shares in the company, valued at $3,824,063.60. The trade was a 48.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 96,094,698 shares of company stock valued at $3,876,350,805. Company insiders own 0.29% of the company’s stock.

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.