White Pine Capital LLC cut its position in Bank of America Corporation (NYSE:BAC) by 2.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 52,175 shares of the financial services provider’s stock after selling 1,350 shares during the quarter. White Pine Capital LLC’s holdings in Bank of America Corporation were worth $1,266,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Northwest Investment Counselors LLC bought a new position in Bank of America Corporation in the second quarter worth about $100,000. Armbruster Capital Management Inc. raised its holdings in Bank of America Corporation by 10.8% in the first quarter. Armbruster Capital Management Inc. now owns 4,323 shares of the financial services provider’s stock worth $102,000 after purchasing an additional 423 shares in the last quarter. Chicago Partners Investment Group LLC raised its holdings in Bank of America Corporation by 11.0% in the second quarter. Chicago Partners Investment Group LLC now owns 4,531 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 450 shares in the last quarter. Tarbox Family Office Inc. raised its holdings in Bank of America Corporation by 0.4% in the second quarter. Tarbox Family Office Inc. now owns 4,809 shares of the financial services provider’s stock worth $117,000 after purchasing an additional 21 shares in the last quarter. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. raised its holdings in Bank of America Corporation by 47.1% in the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 5,780 shares of the financial services provider’s stock worth $140,000 after purchasing an additional 1,850 shares in the last quarter. Institutional investors and hedge funds own 62.04% of the company’s stock.

Bank of America Corporation (NYSE BAC) opened at $26.73 on Wednesday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.90 and a current ratio of 0.91. The firm has a market capitalization of $278,914.53, a P/E ratio of 15.28, a PEG 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.

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 for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. The business had revenue of $22.08 billion during the quarter, compared to the consensus estimate of $22.07 billion. Bank of America Corporation had a return on equity of 8.33% and a net margin of 20.66%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 EPS. research analysts anticipate that Bank of America Corporation will post 1.81 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be paid a dividend of $0.12 per share. 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 payout ratio is 27.43%.

A number of equities analysts have commented on BAC shares. Jefferies Group LLC reiterated a “buy” rating and issued a $28.00 target price on shares of Bank of America Corporation in a report on Friday, August 11th. Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of Bank of America Corporation in a report on Friday, October 13th. Vetr upgraded shares of Bank of America Corporation from a “hold” rating to a “buy” rating and set a $26.59 target price for the company in a report on Monday, October 16th. Nomura boosted their target price on shares of Bank of America Corporation from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, October 16th. Finally, BidaskClub downgraded shares of Bank of America Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 9th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-four have given a buy rating and three have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $25.82.

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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.

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

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