Bank of America Corporation (BAC) Shares Bought by Schulhoff & Co. Inc.

Schulhoff & Co. Inc. grew its holdings in shares of Bank of America Corporation (NYSE:BAC) by 0.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,325 shares of the financial services provider’s stock after purchasing an additional 17 shares during the quarter. Schulhoff & Co. Inc.’s holdings in Bank of America Corporation were worth $1,172,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Korea Investment CORP raised its holdings in shares of Bank of America Corporation by 0.5% during the 2nd quarter. Korea Investment CORP now owns 78,908,445 shares of the financial services provider’s stock valued at $1,914,319,000 after purchasing an additional 390,771 shares in the last quarter. Boston Partners raised its holdings in shares of Bank of America Corporation by 0.5% during the 1st quarter. Boston Partners now owns 75,404,921 shares of the financial services provider’s stock valued at $1,778,802,000 after purchasing an additional 368,898 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Bank of America Corporation by 2.0% during the 2nd quarter. Legal & General Group Plc now owns 50,797,049 shares of the financial services provider’s stock valued at $1,232,414,000 after purchasing an additional 1,007,405 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Bank of America Corporation by 0.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 33,108,834 shares of the financial services provider’s stock valued at $803,221,000 after purchasing an additional 173,379 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Bank of America Corporation by 1.9% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 30,340,696 shares of the financial services provider’s stock valued at $736,065,000 after purchasing an additional 553,349 shares in the last quarter. Institutional investors and hedge funds own 62.34% of the company’s stock.

A number of research firms have recently weighed in on BAC. Vetr downgraded shares of Bank of America Corporation from a “hold” rating to a “sell” rating and set a $26.67 price target on the stock. in a report on Monday. J P Morgan Chase & Co raised their price target on shares of Bank of America Corporation from $27.50 to $28.50 and gave the company an “overweight” rating in a report on Wednesday, November 1st. BidaskClub upgraded shares of Bank of America Corporation from a “buy” rating to a “strong-buy” rating in a report on Monday, October 23rd. UBS AG set a $27.00 price target on shares of Bank of America Corporation and gave the company a “hold” rating in a report on Monday, October 16th. Finally, Nomura raised their price target on shares of Bank of America Corporation from $28.00 to $30.00 and gave the company a “buy” rating in a report on Monday, October 16th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-three have issued a buy rating and three have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $25.57.

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In related news, Director Frank P. Bramble sold 86,763 shares of Bank of America Corporation stock in a transaction dated 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 completion of the transaction, the director now directly owns 50,000 shares of the company’s stock, valued at approximately $1,208,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.18% of the company’s stock.

Bank of America Corporation (BAC) opened at $27.82 on Monday. Bank of America Corporation has a 1-year low of $16.35 and a 1-year high of $27.98. The stock has a market cap of $290,179.56, a PE ratio of 15.90, a P/E/G ratio of 1.93 and a beta of 1.31. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.91.

Bank of America Corporation (NYSE:BAC) last announced its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, beating the 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 during the quarter, compared to the consensus estimate of $22.07 billion. During the same period last year, the firm posted $0.41 EPS. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. equities analysts predict that Bank of America Corporation will post 1.8 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors 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 yield of 1.73%. The ex-dividend date is Thursday, November 30th. Bank of America Corporation’s dividend payout ratio is currently 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.

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

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