Nottingham Advisors Inc. Buys New Shares in Bank of America Co. (NYSE:BAC)

Nottingham Advisors Inc. purchased a new stake in Bank of America Co. (NYSE:BAC) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 25,266 shares of the financial services provider’s stock, valued at approximately $1,003,000.

Several other institutional investors have also recently made changes to their positions in BAC. Delos Wealth Advisors LLC lifted its holdings in shares of 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 purchasing an additional 547 shares in the last quarter. Fairway Wealth LLC bought a new stake in shares of Bank of America in the second quarter valued at approximately $27,000. POM Investment Strategies LLC lifted its stake in shares of Bank of America by 839.0% during the 2nd quarter. POM Investment Strategies LLC now owns 723 shares of the financial services provider’s stock valued at $29,000 after buying an additional 646 shares in the last quarter. Bbjs Financial Advisors LLC bought a new position in Bank of America in the 2nd quarter worth approximately $30,000. Finally, Northwest Investment Counselors LLC bought a new stake in Bank of America during the 1st quarter valued at $33,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Trading Up 0.1 %

Shares of BAC traded up $0.03 during trading hours on Thursday, reaching $42.83. 2,053,093 shares of the company traded hands, compared to its average volume of 38,758,441. The stock’s fifty day moving average price is $39.72 and its 200 day moving average price is $39.35. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.09. The firm has a market cap of $334.95 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 1.39 and a beta of 1.33. Bank of America Co. has a 12-month low of $24.96 and a 12-month high of $44.44.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.03. The company had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.25 billion. Bank of America had a return on equity of 10.56% and a net margin of 13.28%. During the same quarter last year, the company earned $0.90 earnings per share. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. Sell-side analysts forecast that Bank of America Co. will post 3.25 earnings per share for the current year.

Bank of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 6th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.43%. Bank of America’s dividend payout ratio (DPR) is currently 35.99%.

Bank of America declared that its Board of Directors has initiated a stock buyback program on Wednesday, July 24th that allows the company to buyback $25.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 7.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. StockNews.com upgraded Bank of America from a “sell” rating to a “hold” rating in a research report on Wednesday. Jefferies Financial Group boosted their price objective on shares of Bank of America from $39.00 to $41.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Deutsche Bank Aktiengesellschaft raised shares of Bank of America from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Tuesday, September 3rd. BMO Capital Markets raised their price objective on Bank of America from $38.00 to $40.00 and gave the company a “market perform” rating in a research report on Thursday, July 18th. Finally, Seaport Res Ptn raised Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.62.

Insider Buying and Selling

In other Bank of America news, insider Lindsay D. Hans sold 10,901 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $36.91, for a total transaction of $402,355.91. Following the transaction, the insider now owns 10,907 shares in the company, valued at approximately $402,577.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Lindsay D. Hans sold 10,901 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $36.91, for a total transaction of $402,355.91. Following the completion of the sale, the insider now owns 10,907 shares in the company, valued at $402,577.37. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Berkshire Hathaway Inc sold 6,349,021 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $42.41, for a total value of $269,261,980.61. Following the completion of the transaction, the insider now owns 992,612,058 shares in the company, valued at $42,096,677,379.78. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 148,230,389 shares of company stock valued at $6,023,064,684 over the last 90 days. Insiders own 0.29% of the company’s stock.

Bank of America 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.