Bank of America Corporation (BAC) Shares Bought by Mitsubishi UFJ Securities Holdings Co. Ltd.

Mitsubishi UFJ Securities Holdings Co. Ltd. increased its stake in shares of Bank of America Corporation (NYSE:BAC) by 47.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,780 shares of the financial services provider’s stock after buying an additional 1,850 shares during the period. Mitsubishi UFJ Securities Holdings Co. Ltd.’s holdings in Bank of America Corporation were worth $140,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. M Holdings Securities Inc. raised its position in Bank of America Corporation by 72.9% during the first quarter. M Holdings Securities Inc. now owns 95,018 shares of the financial services provider’s stock worth $2,242,000 after acquiring an additional 40,069 shares during the last quarter. YHB Investment Advisors Inc. raised its position in Bank of America Corporation by 17.2% during the second quarter. YHB Investment Advisors Inc. now owns 161,450 shares of the financial services provider’s stock worth $3,917,000 after acquiring an additional 23,729 shares during the last quarter. Montag A & Associates Inc. raised its position in Bank of America Corporation by 47.4% during the second quarter. Montag A & Associates Inc. now owns 385,764 shares of the financial services provider’s stock worth $9,359,000 after acquiring an additional 123,986 shares during the last quarter. AQR Capital Management LLC raised its position in Bank of America Corporation by 21.3% during the first quarter. AQR Capital Management LLC now owns 8,462,687 shares of the financial services provider’s stock worth $199,635,000 after acquiring an additional 1,483,772 shares during the last quarter. Finally, Bank of The West raised its position in Bank of America Corporation by 130.9% during the second quarter. Bank of The West now owns 86,217 shares of the financial services provider’s stock worth $2,092,000 after acquiring an additional 48,873 shares during the last quarter. 61.58% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have issued reports on BAC. J P Morgan Chase & Co lifted their target price on shares of Bank of America Corporation from $27.50 to $28.50 and gave the stock an “overweight” rating in a research report on Wednesday. BidaskClub raised shares of Bank of America Corporation from a “buy” rating to a “strong-buy” rating in a research report on Monday, October 23rd. Citigroup Inc reissued a “neutral” rating and issued a $27.00 price objective (up previously from $25.00) on shares of Bank of America Corporation in a research report on Monday, October 9th. Vetr lowered shares of Bank of America Corporation from a “hold” rating to a “sell” rating and set a $25.08 price objective for the company. in a research report on Wednesday, October 4th. Finally, Zacks Investment Research lowered shares of Bank of America Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-four have assigned a buy rating and three have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $25.57.

In other Bank of America Corporation news, Director Frank P. Bramble sold 86,763 shares of the stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $24.16, for a total transaction of $2,096,194.08. Following the transaction, the director now directly owns 50,000 shares in the company, valued at approximately $1,208,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.18% of the company’s stock.

TRADEMARK VIOLATION WARNING: This piece was published by Community Financial News and is the property of of Community Financial News. If you are reading this piece on another website, it was stolen and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this piece can be viewed at https://www.com-unik.info/2017/11/04/bank-of-america-corporation-bac-shares-bought-by-mitsubishi-ufj-securities-holdings-co-ltd.html.

Bank of America Corporation (BAC) opened at $27.82 on Friday. The firm has a market cap of $290.18 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 1.93 and a beta of 1.31. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.91. Bank of America Corporation has a 52 week low of $16.35 and a 52 week high of $27.98.

Bank of America Corporation (NYSE:BAC) last posted its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.02. Bank of America Corporation had a net margin of 20.66% and a return on equity of 8.33%. The firm had revenue of $22.08 billion for the quarter, compared to the consensus estimate of $22.07 billion. During the same period in the prior year, the firm posted $0.41 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. analysts anticipate that Bank of America Corporation will post 1.8 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.48 dividend on an annualized basis and a yield of 1.73%. Bank of America Corporation’s dividend payout ratio (DPR) is 27.91%.

Bank of America Corporation Company Profile

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.

Want to see what other hedge funds are holding BAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of America Corporation (NYSE:BAC).

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

What are top analysts saying about Bank of America Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Bank of America Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit