Public Employees Retirement Association of Colorado trimmed its holdings in shares of Bank of America Corp (NYSE:BAC) by 0.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,664,196 shares of the financial services provider’s stock after selling 10,659 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Bank of America were worth $48,545,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the company. Garrett Wealth Advisory Group LLC bought a new position in Bank of America during the third quarter valued at about $25,000. Larson Financial Group LLC boosted its position in shares of Bank of America by 195.6% in the 3rd quarter. Larson Financial Group LLC now owns 1,330 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 880 shares during the period. Salomon & Ludwin LLC boosted its position in shares of Bank of America by 120.6% in the 2nd quarter. Salomon & Ludwin LLC now owns 1,489 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 814 shares during the period. Selective Wealth Management Inc. acquired a new position in shares of Bank of America in the 3rd quarter valued at $43,000. Finally, WealthStone Inc. acquired a new position in shares of Bank of America in the 2nd quarter valued at $49,000. 70.75% of the stock is currently owned by institutional investors.
NYSE BAC traded up $0.03 during trading on Friday, reaching $33.26. 38,313,549 shares of the company’s stock were exchanged, compared to its average volume of 56,181,609. Bank of America Corp has a fifty-two week low of $22.66 and a fifty-two week high of $33.60. The firm has a market capitalization of $299.18 billion, a PE ratio of 12.74, a P/E/G ratio of 1.27 and a beta of 1.62. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.99. The company’s fifty day simple moving average is $30.19 and its 200-day simple moving average is $29.06.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Thursday, December 5th. Bank of America’s dividend payout ratio (DPR) is presently 27.59%.
A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $33.00 price target (up previously from $30.00) on shares of Bank of America in a research report on Monday, November 4th. Raymond James lowered Bank of America from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 29th. Atlantic Securities upgraded Bank of America from a “neutral” rating to an “overweight” rating in a research report on Tuesday, October 22nd. DZ Bank upgraded Bank of America from a “sell” rating to a “hold” rating in a research report on Friday, August 16th. Finally, ValuEngine upgraded Bank of America from a “sell” rating to a “hold” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating to the company’s stock. Bank of America has a consensus rating of “Hold” and a consensus price target of $32.59.
In related news, major shareholder Of America Corp /De/ Bank sold 5,370 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $11.78, for a total value of $63,258.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Kathleen A. Knox sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $30.23, for a total value of $1,209,200.00. Following the completion of the transaction, the insider now directly owns 43,744 shares in the company, valued at $1,322,381.12. The disclosure for this sale can be found here. Insiders have sold a total of 51,870 shares of company stock valued at $1,476,104 over the last ninety days. Company insiders own 0.17% of the company’s stock.
Bank of America Company 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.
See Also: Overbought
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 Corp (NYSE:BAC).
Receive News & Ratings for Bank of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of America and related companies with MarketBeat.com's FREE daily email newsletter.