57,500 Shares in Bank of America Co. (NYSE:BAC) Acquired by Anson Funds Management LP

Anson Funds Management LP bought a new position in shares of Bank of America Co. (NYSE:BAC) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 57,500 shares of the financial services provider’s stock, valued at approximately $2,282,000.

Several other large investors have also recently added to or reduced their stakes in the business. Fairway Wealth LLC purchased a new stake in shares of Bank of America in the 2nd quarter valued at approximately $27,000. POM Investment Strategies LLC increased its position 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 last quarter. Kennebec Savings Bank purchased a new stake in shares of Bank of America in the 3rd quarter valued at approximately $29,000. Bbjs Financial Advisors LLC purchased a new stake in shares of Bank of America in the 2nd quarter valued at approximately $30,000. Finally, Christopher J. Hasenberg Inc increased its position in shares of Bank of America by 525.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 852 shares during the last quarter. 70.71% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Bank of America

In other news, major shareholder Berkshire Hathaway Inc sold 8,694,538 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $42.55, for a total value of $369,952,591.90. Following the completion of the sale, the insider now owns 766,305,462 shares in the company, valued at approximately $32,606,297,408.10. This trade represents a 1.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders sold 56,945,263 shares of company stock worth $2,300,620,438. Company insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

BAC has been the topic of a number of recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $46.00 price objective on shares of Bank of America in a research report on Wednesday, October 9th. StockNews.com raised shares of Bank of America from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Oppenheimer increased their price objective on shares of Bank of America from $50.00 to $56.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Evercore ISI increased their price objective on shares of Bank of America from $44.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft upgraded 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 report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $45.57.

Bank of America Stock Up 0.0 %

Shares of NYSE:BAC opened at $46.75 on Friday. The stock has a market cap of $358.71 billion, a P/E ratio of 17.00, a P/E/G ratio of 1.57 and a beta of 1.33. The firm has a fifty day moving average price of $43.75 and a 200 day moving average price of $41.27. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.80 and a quick ratio of 0.80. Bank of America Co. has a 1-year low of $30.45 and a 1-year high of $48.08.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.03. The firm had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.25 billion. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. Bank of America’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.90 EPS. Sell-side analysts predict that Bank of America Co. will post 3.27 EPS for the current year.

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 6th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend is Friday, December 6th. Bank of America’s dividend payout ratio (DPR) is presently 37.82%.

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.