Vigilant Capital Management LLC Has $139,000 Stock Position in Bank of America Co. (NYSE:BAC)

Vigilant Capital Management LLC lifted its holdings in shares of Bank of America Co. (NYSE:BAC) by 108.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 5,780 shares of the financial services provider’s stock after acquiring an additional 3,001 shares during the period. Vigilant Capital Management LLC’s holdings in Bank of America were worth $139,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Lenox Wealth Advisors LLC raised its holdings in shares of Bank of America by 111.9% during the 2nd quarter. Lenox Wealth Advisors LLC now owns 1,106 shares of the financial services provider’s stock worth $26,000 after buying an additional 584 shares in the last quarter. AlphaMark Advisors LLC grew its position in Bank of America by 135.4% during the 2nd quarter. AlphaMark Advisors LLC now owns 1,264 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 727 shares during the last quarter. Crewe Advisors LLC grew its position in Bank of America by 363.3% during the 3rd quarter. Crewe Advisors LLC now owns 1,390 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 1,090 shares during the last quarter. Provident Wealth Management LLC bought a new stake in Bank of America during the 3rd quarter worth $35,000. Finally, Balentine LLC bought a new stake in Bank of America during the 1st quarter worth $63,000. 68.19% of the stock is owned by institutional investors.

BAC has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their price objective on Bank of America from $26.00 to $27.50 and gave the stock an “overweight” rating in a research report on Tuesday, October 6th. Credit Suisse Group restated a “buy” rating and set a $31.00 price objective on shares of Bank of America in a research report on Monday, August 3rd. Seaport Global Securities initiated coverage on Bank of America in a research report on Wednesday, July 8th. They set a “neutral” rating on the stock. DA Davidson lowered Bank of America from a “buy” rating to a “neutral” rating and reduced their price target for the company from $27.00 to $25.00 in a research report on Thursday, July 9th. Finally, Wells Fargo & Company lowered Bank of America to a “sell” rating in a research report on Friday, July 10th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Bank of America presently has a consensus rating of “Buy” and an average price target of $29.31.

In related news, major shareholder Berkshire Hathaway Inc acquired 13,584,301 shares of the stock in a transaction dated Tuesday, August 4th. The stock was purchased at an average cost of $24.81 per share, with a total value of $337,026,507.81. Over the last three months, insiders bought 85,092,006 shares of company stock valued at $2,070,253,228. Company insiders own 0.20% of the company’s stock.

BAC stock opened at $24.24 on Friday. The stock’s 50 day simple moving average is $25.04 and its 200 day simple moving average is $24.25. Bank of America Co. has a fifty-two week low of $17.95 and a fifty-two week high of $35.72. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.92 and a current ratio of 0.93. The company has a market cap of $210.02 billion, a P/E ratio of 11.71, a price-to-earnings-growth ratio of 2.12 and a beta of 1.54.

Bank of America (NYSE:BAC) last posted its quarterly earnings results on Wednesday, October 14th. The financial services provider reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.02). Bank of America had a return on equity of 9.11% and a net margin of 19.09%. The firm had revenue of $20.30 billion for the quarter, compared to analyst estimates of $20.88 billion. During the same period last year, the company posted $0.75 earnings per share. The firm’s quarterly revenue was down 11.6% compared to the same quarter last year. Equities analysts predict that Bank of America Co. will post 1.73 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 4th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend was Thursday, September 3rd. Bank of America’s dividend payout ratio (DPR) is currently 24.49%.

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 Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets segments.

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

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