Integrity Financial Corp WA Has $582,000 Holdings in Bank of America Co. (NYSE:BAC)

Integrity Financial Corp WA lifted its position in shares of Bank of America Co. (NYSE:BAC) by 17.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,635 shares of the financial services provider’s stock after acquiring an additional 2,178 shares during the quarter. Integrity Financial Corp WA’s holdings in Bank of America were worth $582,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Delos Wealth Advisors LLC lifted its holdings in Bank of America by 402.2% in the first quarter. Delos Wealth Advisors LLC now owns 683 shares of the financial services provider’s stock valued at $26,000 after buying an additional 547 shares during the period. Livelsberger Financial Advisory bought a new position in shares of Bank of America in the 4th quarter worth about $28,000. POM Investment Strategies LLC lifted its stake in shares of Bank of America by 839.0% in the 2nd quarter. POM Investment Strategies LLC now owns 723 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 646 shares during the period. Bbjs Financial Advisors LLC acquired a new stake in Bank of America during the second quarter worth approximately $30,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of Bank of America during the 1st quarter worth approximately $33,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Insider Activity at Bank of America

In other Bank of America news, major shareholder Berkshire Hathaway Inc sold 12,690,693 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $44.07, for a total value of $559,278,840.51. Following the sale, the insider now owns 1,020,161,313 shares of the company’s stock, valued at approximately $44,958,509,063.91. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, major shareholder Berkshire Hathaway Inc sold 12,690,693 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $44.07, for a total value of $559,278,840.51. Following the completion of the transaction, the insider now directly owns 1,020,161,313 shares in the company, valued at approximately $44,958,509,063.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lindsay D. Hans sold 10,901 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $36.91, for a total value of $402,355.91. Following the transaction, the insider now owns 10,907 shares in the company, valued at $402,577.37. The disclosure for this sale can be found here. Over the last quarter, insiders sold 99,609,567 shares of company stock valued at $4,122,483,669. Company insiders own 0.29% of the company’s stock.

Bank of America Stock Performance

Shares of NYSE BAC traded up $0.58 during mid-day trading on Friday, hitting $40.75. The company had a trading volume of 49,098,180 shares, compared to its average volume of 39,229,773. The stock’s 50-day moving average price is $40.23 and its 200-day moving average price is $38.26. The company has a market capitalization of $318.68 billion, a price-to-earnings ratio of 14.10, a P/E/G ratio of 1.41 and a beta of 1.35. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.09. Bank of America Co. has a 1 year low of $24.96 and a 1 year high of $44.44.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.04. The company had revenue of $25.38 billion during the quarter, compared to analyst estimates of $25.22 billion. Bank of America had a net margin of 13.28% and a return on equity of 10.56%. Bank of America’s revenue was up .7% compared to the same quarter last year. During the same period last year, the business earned $0.88 earnings per share. On average, sell-side analysts forecast that Bank of America Co. will post 3.27 earnings per share for the current year.

Bank of America declared that its Board of Directors has approved a stock repurchase program on Wednesday, July 24th that permits the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 7.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Bank of America Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 6th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend is Friday, September 6th. This is an increase from Bank of America’s previous quarterly dividend of $0.24. Bank of America’s dividend payout ratio (DPR) is 35.99%.

Analysts Set New Price Targets

BAC has been the topic of several research analyst reports. Morgan Stanley increased their target price on shares of Bank of America from $46.00 to $49.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Cfra reaffirmed a “sell” rating and issued a $39.00 target price on shares of Bank of America in a research report on Tuesday, July 16th. Barclays increased their price target on Bank of America from $43.00 to $49.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Royal Bank of Canada upped their target price on Bank of America from $39.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Finally, StockNews.com upgraded Bank of America from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $42.07.

Bank of America Company Profile

Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. It operates in four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.