Bank of America Corporation (BAC) Position Held by Miller Investment Management LP

Miller Investment Management LP maintained its stake in Bank of America Corporation (NYSE:BAC) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 37,675 shares of the financial services provider’s stock at the end of the second quarter. Miller Investment Management LP’s holdings in Bank of America Corporation were worth $914,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of BAC. Northwest Investment Counselors LLC bought a new position in shares of Bank of America Corporation during the second quarter valued at approximately $100,000. Armbruster Capital Management Inc. boosted its stake in shares of Bank of America Corporation by 10.8% during the first quarter. Armbruster Capital Management Inc. now owns 4,323 shares of the financial services provider’s stock valued at $102,000 after purchasing an additional 423 shares in the last quarter. Chicago Partners Investment Group LLC boosted its stake in shares of Bank of America Corporation by 11.0% during the second quarter. Chicago Partners Investment Group LLC now owns 4,531 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 450 shares in the last quarter. Tarbox Family Office Inc. boosted its stake in shares of Bank of America Corporation by 0.4% during the second quarter. Tarbox Family Office Inc. now owns 4,809 shares of the financial services provider’s stock valued at $117,000 after purchasing an additional 21 shares in the last quarter. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its stake in shares of Bank of America Corporation by 47.1% during the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 5,780 shares of the financial services provider’s stock valued at $140,000 after purchasing an additional 1,850 shares in the last quarter. Institutional investors and hedge funds own 62.19% of the company’s stock.

Shares of Bank of America Corporation (NYSE BAC) opened at $26.62 on Friday. Bank of America Corporation has a 52-week low of $19.87 and a 52-week high of $27.98. The stock has a market cap of $277,662.84, a PE ratio of 15.21, a PEG ratio of 1.84 and a beta of 1.31. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.91 and a quick ratio of 0.90.

Bank of America Corporation (NYSE:BAC) last announced its earnings results on Friday, October 13th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 business had revenue of $22.08 billion for the quarter, compared to analyst estimates of $22.07 billion. During the same quarter last year, the business earned $0.41 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. sell-side analysts forecast that Bank of America Corporation will post 1.8 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.80%. The ex-dividend date is Thursday, November 30th. Bank of America Corporation’s dividend payout ratio is currently 27.43%.

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A number of equities analysts have recently issued reports on BAC shares. J P Morgan Chase & Co increased their price objective on shares of Bank of America Corporation from $27.50 to $28.50 and gave the company an “overweight” rating in a research note on Wednesday, November 1st. Robert W. Baird reiterated a “hold” rating and set a $24.00 price objective on shares of Bank of America Corporation in a research note on Friday, August 25th. UBS AG set a $27.00 price objective on shares of Bank of America Corporation and gave the company a “hold” rating in a research note on Monday, October 16th. Vetr upgraded shares of Bank of America Corporation from a “buy” rating to a “strong-buy” rating and set a $26.59 price objective on the stock in a research note on Wednesday, September 6th. Finally, Credit Suisse Group reiterated an “outperform” rating on shares of Bank of America Corporation in a research note on Tuesday, October 10th. Two 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’s stock. The stock presently has an average rating of “Buy” and an average price target of $25.82.

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.

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

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