Bank of America Corporation (BAC) Position Reduced by Pzena Investment Management LLC

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Bank of America Corporation logoPzena Investment Management LLC lessened its stake in shares of Bank of America Corporation (NYSE:BAC) by four.2% in the course of the 2nd quarter, in response to its most up-to-date submitting with the Securities and Exchange Commission. The institutional investor owned 20,490,554 shares of the monetary providers supplier’s inventory after promoting 902,720 shares in the course of the quarter. Bank of America Corporation makes up about 2.7% of Pzena Investment Management LLC’s portfolio, making the inventory its third largest place. Pzena Investment Management LLC owned roughly zero.19% of Bank of America Corporation price $497,101,00zero as of its most up-to-date submitting with the Securities and Exchange Commission.

A lot of different hedge funds and different institutional traders additionally lately made modifications to their positions in BAC. Mosaic Family Wealth LLC boosted its place in shares of Bank of America Corporation by 266.9% within the 2nd quarter. Mosaic Family Wealth LLC now owns 14,160 shares of the monetary providers supplier’s inventory price $344,00zero after buying an extra 10,301 shares within the final quarter. Cadence Capital Management LLC raised its stake in Bank of America Corporation by 13.6% within the 2nd quarter. Cadence Capital Management LLC now owns 145,913 shares of the monetary providers supplier’s inventory price $three,540,00zero after buying an extra 17,507 shares over the past quarter. Montag A & Associates Inc. raised its stake in Bank of America Corporation by 47.four% within the 2nd quarter. Montag A & Associates Inc. now owns 385,764 shares of the monetary providers supplier’s inventory price $9,359,00zero after buying an extra 123,986 shares over the past quarter. FCA Corp TX raised its stake in Bank of America Corporation by 9.5% within the 2nd quarter. FCA Corp TX now owns 19,688 shares of the monetary providers supplier’s inventory price $478,00zero after buying an extra 1,700 shares over the past quarter. Finally, Graybill Bartz & Assoc Ltd. raised its stake in shares of Bank of America Corporation by 1.eight% in the course of the 2nd quarter. Graybill Bartz & Assoc Ltd. now owns 125,232 shares of the monetary providers supplier’s inventory valued at $three,038,00zero after shopping for an extra 2,236 shares over the past quarter. 62.34% of the inventory is presently owned by institutional traders and hedge funds.

Bank of America Corporation (NYSE BAC) traded up $zero.02 on Friday, reaching $26.51. The firm had a buying and selling quantity of 61,099,898 shares, in comparison with its common quantity of 65,188,076. The firm has a present ratio of zero.91, a fast ratio of zero.90 and a debt-to-equity ratio of zero.91. Bank of America Corporation has a fifty-two week low of $18.63 and a fifty-two week excessive of $27.98. The firm has a market cap of $276,515.47, a price-to-earnings ratio of 15.15, a price-to-earnings-growth ratio of 1.84 and a beta of 1.31.

Bank of America Corporation (NYSE:BAC) final launched its quarterly earnings outcomes on Friday, October 13th. The monetary providers supplier reported $zero.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $zero.46 by $zero.02. Bank of America Corporation had a return on fairness of eight.33% and a internet margin of 20.66%. The firm had income of $22.08 billion for the quarter, in comparison with badyst estimates of $22.07 billion. During the identical interval within the earlier 12 months, the corporate posted $zero.41 earnings per share. The agency’s income was up 2.1% on a year-over-year foundation. equities badysis badysts anticipate that Bank of America Corporation will submit 1.eight EPS for the present fiscal 12 months.

The agency additionally lately declared a quarterly dividend, which might be paid on Friday, December 29th. Stockholders of file on Friday, December 1st might be paid a $zero.12 dividend. This represents a $zero.48 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend is Thursday, November 30th. Bank of America Corporation’s dividend payout ratio is presently 27.43%.

BAC has been the subject of various badyst stories. BidaskClub lower Bank of America Corporation from a “strong-buy” score to a “buy” score in a badysis report on Thursday. Vetr upgraded Bank of America Corporation from a “sell” score to a “strong-buy” score and set a $33.96 value goal on the inventory in a report on Tuesday, November seventh. J P Morgan Chase & Co lifted their value goal on Bank of America Corporation from $27.50 to $28.50 and gave the inventory an “overweight” score in a report on Wednesday, November 1st. UBS AG set a $27.00 value goal on Bank of America Corporation and gave the inventory a “hold” score in a report on Monday, October 16th. Finally, Nomura boosted their goal value on Bank of America Corporation from $28.00 to $30.00 and gave the corporate a “buy” score in a badysis report on Monday, October 16th. Two funding badysts have rated the inventory with a promote score, 9 have given a maintain score, twenty-four have issued a purchase score and three have issued a powerful purchase score to the corporate. Bank of America Corporation has a mean score of “Buy” and a mean goal value of $25.82.

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About Bank of America Corporation

Bank of America Corporation is a financial institution holding firm and a monetary holding firm. The Company is a monetary establishment, serving particular person customers and others with a variety of banking, investing, badet administration and different monetary and threat administration services and products. The Company, by means of its banking and numerous non-bank subsidiaries, all through the United States and in worldwide markets, gives a variety of banking and non-bank monetary providers and merchandise by means of 4 enterprise segments: Consumer Banking, which includes Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two major companies: Merrill Lynch Global Wealth Management and U.S.

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




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