Bank of America Corporation (BAC) Holdings Boosted by GHP Investment Advisors Inc.

GHP Investment Advisors Inc. raised its stake in Bank of America Corporation (NYSE:BAC) by 4.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 50,587 shares of the financial services provider’s stock after purchasing an additional 2,258 shares during the period. GHP Investment Advisors Inc.’s holdings in Bank of America Corporation were worth $1,227,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Hollow Brook Wealth Management LLC increased its stake in Bank of America Corporation by 2.9% in the second quarter. Hollow Brook Wealth Management LLC now owns 253,385 shares of the financial services provider’s stock valued at $6,147,000 after purchasing an additional 7,180 shares during the last quarter. Great Lakes Advisors LLC increased its stake in Bank of America Corporation by 35.5% in the second quarter. Great Lakes Advisors LLC now owns 3,083,206 shares of the financial services provider’s stock valued at $74,799,000 after purchasing an additional 808,209 shares during the last quarter. Usca Ria LLC increased its stake in Bank of America Corporation by 48.2% in the second quarter. Usca Ria LLC now owns 134,876 shares of the financial services provider’s stock valued at $3,272,000 after purchasing an additional 43,862 shares during the last quarter. Alpha Omega Wealth Management LLC increased its stake in Bank of America Corporation by 0.3% in the second quarter. Alpha Omega Wealth Management LLC now owns 25,288 shares of the financial services provider’s stock valued at $613,000 after purchasing an additional 76 shares during the last quarter. Finally, Merriman Wealth Management LLC increased its stake in Bank of America Corporation by 5.5% in the second quarter. Merriman Wealth Management LLC now owns 20,597 shares of the financial services provider’s stock valued at $500,000 after purchasing an additional 1,080 shares during the last quarter. Institutional investors own 61.58% of the company’s stock.

A number of brokerages have recently issued reports on BAC. BidaskClub upgraded shares of Bank of America Corporation from a “buy” rating to a “strong-buy” rating in a research report on Monday, October 23rd. Vetr upgraded shares of Bank of America Corporation from a “buy” rating to a “strong-buy” rating and set a $26.59 target price on the stock in a research report on Wednesday, August 30th. Instinet restated a “buy” rating and set a $27.00 target price on shares of Bank of America Corporation in a research report on Saturday, July 22nd. BMO Capital Markets restated a “market perform” rating and set a $29.00 target price (up from $27.00) on shares of Bank of America Corporation in a research report on Monday, October 16th. Finally, Wells Fargo & Company began coverage on shares of Bank of America Corporation in a research report on Wednesday, August 9th. They set an “outperform” rating and a $30.00 target price on the stock. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-four have assigned a buy rating and three have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $25.57.

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In other news, Director Frank P. Bramble sold 86,763 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $24.16, for a total transaction of $2,096,194.08. Following the completion of the sale, the director now directly owns 50,000 shares of the company’s stock, valued at $1,208,000. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.18% of the company’s stock.

Bank of America Corporation (NYSE:BAC) last announced its earnings results on Friday, October 13th. The financial services provider reported $0.48 EPS for the quarter, beating the consensus estimate of $0.46 by $0.02. Bank of America Corporation had a return on equity of 8.33% and a net margin of 20.66%. The business had revenue of $22.08 billion during the quarter, compared to the consensus estimate of $22.07 billion. During the same period in the prior year, the business posted $0.41 earnings per share. Bank of America Corporation’s revenue was up 2.1% compared to the same quarter last year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Thursday, November 30th. Bank of America Corporation’s dividend payout ratio is 27.43%.

About Bank of America Corporation

Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers and others with a range of banking, investing, asset management and other financial and risk management products and services. The Company, through its banking and various non-bank subsidiaries, throughout the United States and in international markets, provides a range of banking and non-bank financial services and products through four business segments: Consumer Banking, which comprises Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S.

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

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