Bank of America Corp (NYSE:BAC) Shares Bought by Community Bank N.A.

Community Bank N.A. increased its holdings in Bank of America Corp (NYSE:BAC) by 303.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 34,093 shares of the financial services provider’s stock after buying an additional 25,649 shares during the period. Community Bank N.A.’s holdings in Bank of America were worth $809,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the stock. Lenox Wealth Advisors LLC boosted its stake in Bank of America by 111.9% in the second quarter. Lenox Wealth Advisors LLC now owns 1,106 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 584 shares during the period. Center for Financial Planning Inc. boosted its position in Bank of America by 122.7% during the 1st quarter. Center for Financial Planning Inc. now owns 1,361 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 750 shares during the period. Stonebridge Financial Planning Group LLC grew its stake in Bank of America by 208.0% during the 1st quarter. Stonebridge Financial Planning Group LLC now owns 1,494 shares of the financial services provider’s stock worth $35,000 after buying an additional 1,009 shares during the last quarter. Firestone Capital Management increased its position in Bank of America by 39.0% in the first quarter. Firestone Capital Management now owns 1,786 shares of the financial services provider’s stock worth $38,000 after buying an additional 501 shares during the period. Finally, Semmax Financial Advisors Inc. lifted its stake in Bank of America by 490.1% in the first quarter. Semmax Financial Advisors Inc. now owns 1,965 shares of the financial services provider’s stock valued at $42,000 after buying an additional 1,632 shares during the last quarter. 68.99% of the stock is owned by institutional investors and hedge funds.

In related news, major shareholder Berkshire Hathaway Inc bought 33,902,623 shares of the firm’s stock in a transaction that occurred on Wednesday, July 22nd. The shares were acquired at an average cost of $23.99 per share, for a total transaction of $813,323,925.77. Over the last three months, insiders have bought 71,507,705 shares of company stock valued at $1,733,226,720. Corporate insiders own 0.20% of the company’s stock.

Several equities analysts have recently commented on the stock. TheStreet lowered shares of Bank of America from a “b-” rating to a “c+” rating in a research report on Monday, July 27th. Oppenheimer upped their target price on shares of Bank of America from $30.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, April 16th. Morgan Stanley lifted their price target on Bank of America from $23.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, June 25th. UBS Group boosted their price objective on Bank of America from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Finally, Seaport Global Securities assumed coverage on Bank of America in a research report on Wednesday, July 8th. They issued a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and thirteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $29.47.

NYSE BAC traded up $0.04 on Friday, reaching $24.88. The company’s stock had a trading volume of 62,039,245 shares, compared to its average volume of 60,672,532. Bank of America Corp has a twelve month low of $17.95 and a twelve month high of $35.72. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.92 and a current ratio of 0.93. The firm’s 50 day moving average is $24.13 and its two-hundred day moving average is $26.12. The stock has a market cap of $215.85 billion, a PE ratio of 11.01, a PEG ratio of 2.24 and a beta of 1.59.

Bank of America (NYSE:BAC) last released its earnings results on Thursday, July 16th. The financial services provider reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. The business had revenue of $22.30 billion for the quarter, compared to the consensus estimate of $21.71 billion. Bank of America had a net margin of 19.09% and a return on equity of 9.11%. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.74 EPS. Equities research analysts anticipate that Bank of America Corp will post 1.58 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, September 3rd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.89%. Bank of America’s dividend payout ratio (DPR) is presently 24.49%.

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 through four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.

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

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