Consolidated Portfolio Review Corp Has $511,000 Stake in Bank of America Co. (NYSE:BAC)

Consolidated Portfolio Review Corp increased its position in shares of Bank of America Co. (NYSE:BAC) by 3.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 12,871 shares of the financial services provider’s stock after purchasing an additional 419 shares during the quarter. Consolidated Portfolio Review Corp’s holdings in Bank of America were worth $511,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Vicus Capital raised its stake in Bank of America by 15.3% in the 1st quarter. Vicus Capital now owns 12,069 shares of the financial services provider’s stock worth $458,000 after purchasing an additional 1,603 shares in the last quarter. Trilogy Capital Inc. bought a new stake in shares of Bank of America in the first quarter valued at approximately $214,000. LVW Advisors LLC grew its position in Bank of America by 19.9% during the first quarter. LVW Advisors LLC now owns 42,303 shares of the financial services provider’s stock worth $1,604,000 after buying an additional 7,034 shares in the last quarter. Aviance Capital Partners LLC increased its stake in Bank of America by 55.0% during the 1st quarter. Aviance Capital Partners LLC now owns 22,770 shares of the financial services provider’s stock worth $863,000 after acquiring an additional 8,076 shares during the period. Finally, Diversified Trust Co raised its holdings in Bank of America by 18.3% in the 1st quarter. Diversified Trust Co now owns 168,915 shares of the financial services provider’s stock valued at $6,405,000 after acquiring an additional 26,145 shares in the last quarter. 70.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BAC has been the topic of several analyst reports. Jefferies Financial Group increased their target price on Bank of America from $39.00 to $41.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Cfra reiterated a “sell” rating and set a $39.00 price objective on shares of Bank of America in a research note on Tuesday, July 16th. Piper Sandler Companies upgraded shares of Bank of America from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $37.00 to $42.00 in a research report on Tuesday, July 9th. StockNews.com upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, Seaport Res Ptn raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.69.

Insider Buying and Selling

In other Bank of America news, major shareholder Berkshire Hathaway Inc sold 6,993,520 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $40.63, for a total transaction of $284,146,717.60. Following the completion of the transaction, the insider now owns 948,077,805 shares in the company, valued at approximately $38,520,401,217.15. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Berkshire Hathaway Inc sold 6,993,520 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $40.63, for a total value of $284,146,717.60. Following the transaction, the insider now directly owns 948,077,805 shares of the company’s stock, valued at $38,520,401,217.15. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Bernard A. Mensah sold 92,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $39.80, for a total value of $3,661,600.00. Following the sale, the insider now owns 96,082 shares in the company, valued at approximately $3,824,063.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 125,336,839 shares of company stock valued at $5,049,968,704 over the last ninety days. 0.29% of the stock is owned by company insiders.

Bank of America Trading Down 1.8 %

Shares of NYSE BAC opened at $41.89 on Friday. The firm has a 50 day moving average price of $40.24 and a two-hundred day moving average price of $39.59. The stock has a market cap of $325.05 billion, a P/E ratio of 15.23, a price-to-earnings-growth ratio of 1.43 and a beta of 1.33. Bank of America Co. has a 52-week low of $24.96 and a 52-week high of $44.44. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.80 and a current ratio of 0.80.

Bank of America (NYSE:BAC) last posted 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 business had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.25 billion. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. Bank of America’s quarterly revenue was up .4% on a year-over-year basis. During the same period in the prior year, the business posted $0.90 earnings per share. As a group, equities analysts forecast that Bank of America Co. will post 3.26 EPS for the current year.

Bank of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 6th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.48%. Bank of America’s dividend payout ratio (DPR) is 37.82%.

Bank of America declared that its board has initiated a share buyback plan on Wednesday, July 24th that authorizes the company to buyback $25.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 7.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

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.