SNS Financial Group LLC lessened its stake in Bank of America Corporation (NYSE:BAC) by 20.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,001 shares of the financial services provider’s stock after selling 2,817 shares during the quarter. SNS Financial Group LLC’s holdings in Bank of America Corporation were worth $266,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC acquired a new stake in Bank of America Corporation during the 2nd quarter valued at $100,000. Armbruster Capital Management Inc. lifted its holdings in Bank of America Corporation by 10.8% during the 1st 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 during the last quarter. Chicago Partners Investment Group LLC lifted its holdings in Bank of America Corporation by 11.0% during the 2nd 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 during the last quarter. Tarbox Family Office Inc. lifted its holdings in Bank of America Corporation by 0.4% during the 2nd 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 during the last quarter. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its holdings in Bank of America Corporation by 47.1% during the 2nd 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 during the last quarter. 62.19% of the stock is owned by institutional investors.

BAC has been the subject of several research reports. BidaskClub downgraded Bank of America Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Royal Bank Of Canada reissued a “buy” rating and set a $26.00 target price on shares of Bank of America Corporation in a report on Thursday, July 20th. UBS AG reissued a “neutral” rating and set a $26.00 target price on shares of Bank of America Corporation in a report on Friday, July 21st. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $30.00 target price (up previously from $29.00) on shares of Bank of America Corporation in a report on Friday, July 21st. Finally, Instinet reissued a “buy” rating and set a $27.00 target price on shares of Bank of America Corporation in a report on Saturday, July 22nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-four have given a buy rating and three have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $25.82.

Bank of America Corporation (NYSE BAC) opened at $26.24 on Wednesday. Bank of America Corporation has a 12 month low of $19.60 and a 12 month high of $27.98. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $275,368.09, a P/E ratio of 15.09, a P/E/G ratio of 1.83 and a beta of 1.31.

Bank of America Corporation (NYSE:BAC) last issued its quarterly 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 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 period in the previous year, the firm earned $0.41 earnings per share. The company’s revenue was up 2.1% compared to the same quarter last year. analysts predict 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. Shareholders of record on Friday, December 1st will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend is Thursday, November 30th. Bank of America Corporation’s dividend payout ratio (DPR) is presently 27.43%.

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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.

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

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