LVW Advisors LLC Sells 93 Shares of Bank of America Corporation (BAC)

LVW Advisors LLC cut its holdings in Bank of America Corporation (NYSE:BAC) by 0.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,912 shares of the financial services provider’s stock after selling 93 shares during the quarter. LVW Advisors LLC’s holdings in Bank of America Corporation were worth $265,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BAC. Investec Asset Management LTD boosted its stake in Bank of America Corporation by 163.4% during the first quarter. Investec Asset Management LTD now owns 10,540,710 shares of the financial services provider’s stock worth $248,655,000 after buying an additional 6,538,908 shares during the period. Schroder Investment Management Group boosted its stake in Bank of America Corporation by 70.4% during the second quarter. Schroder Investment Management Group now owns 10,606,202 shares of the financial services provider’s stock worth $257,942,000 after buying an additional 4,381,323 shares during the period. Karp Capital Management Corp purchased a new position in Bank of America Corporation during the first quarter worth $91,522,000. APG Asset Management N.V. boosted its stake in Bank of America Corporation by 14.8% during the second quarter. APG Asset Management N.V. now owns 30,054,575 shares of the financial services provider’s stock worth $729,124,000 after buying an additional 3,868,186 shares during the period. Finally, Artisan Partners Limited Partnership boosted its stake in Bank of America Corporation by 56.2% during the first quarter. Artisan Partners Limited Partnership now owns 10,462,017 shares of the financial services provider’s stock worth $246,799,000 after buying an additional 3,764,582 shares during the period. 62.04% of the stock is owned by institutional investors.

Several research firms have recently weighed in on BAC. J P Morgan Chase & Co lifted their target price on Bank of America Corporation from $27.50 to $28.50 and gave the stock an “overweight” rating in a research report on Wednesday, November 1st. Robert W. Baird reiterated a “hold” rating and set a $24.00 target price on shares of Bank of America Corporation in a research report on Friday, August 25th. UBS AG set a $27.00 target price on Bank of America Corporation and gave the stock a “hold” rating in a research report on Monday, October 16th. Vetr upgraded Bank of America Corporation from a “buy” rating to a “strong-buy” rating and set a $26.59 target price for the company in a research report on Wednesday, September 6th. Finally, Credit Suisse Group reiterated an “outperform” rating on shares of Bank of America Corporation in a research report on Tuesday, October 10th. Two equities research 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. Bank of America Corporation has a consensus rating of “Buy” and a consensus price target of $25.82.

Shares of Bank of America Corporation (NYSE BAC) opened at $26.73 on Wednesday. The company has a market capitalization of $278,914.53, a P/E ratio of 15.28, a P/E/G ratio of 1.85 and a beta of 1.31. Bank of America Corporation has a 52-week low of $20.12 and a 52-week high of $27.98. 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 issued its earnings results 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 return on equity of 8.33% and a net margin of 20.66%. The firm had revenue of $22.08 billion for the quarter, compared to analyst estimates of $22.07 billion. During the same quarter in the prior year, the firm earned $0.41 earnings per share. Bank of America Corporation’s revenue for the quarter was up 2.1% on a year-over-year basis. equities analysts expect that Bank of America Corporation will post 1.81 EPS for the current 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 given a $0.12 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.48 annualized dividend and a yield of 1.80%. Bank of America Corporation’s dividend payout ratio is presently 27.43%.

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Bank of America Corporation 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.

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

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