Bank of America Corp (BAC) Holdings Cut by Verition Fund Management LLC

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Verition Fund Administration LLC lowered its stake in shares of Financial institution of America Corp (NYSE:BAC) by 6.7% in the course of the third quarter, in accordance with its most up-to-date Type 13F submitting with the Securities and Change Fee. The agency owned 231,621 shares of the monetary providers supplier’s inventory after promoting 16,745 shares in the course of the interval. Verition Fund Administration LLC’s holdings in Financial institution of America had been value $6,824,000 as of its most up-to-date submitting with the Securities and Change Fee.

A number of different hedge funds and different institutional buyers additionally just lately made adjustments to their positions in BAC. CSat Funding Advisory L.P. purchased a brand new stake in Financial institution of America within the 2nd quarter value about $103,000. Cardinal Capital Administration Inc. purchased a brand new stake in Financial institution of America within the third quarter value about $106,000. Quad Cities Funding Group LLC purchased a brand new stake in Financial institution of America within the 2nd quarter value about $112,000. Arlington Companions LLC purchased a brand new stake in Financial institution of America within the third quarter value about $118,000. Lastly, Stelac Advisory Companies LLC grew its place in Financial institution of America by 50.2% within the third quarter. Stelac Advisory Companies LLC now owns 5,750 shares of the monetary providers supplier’s inventory value $169,000 after buying an extra 1,922 shares within the final quarter. Hedge funds and different institutional buyers personal 64.38% of the corporate’s inventory.

Shares of BAC inventory opened at $24.39 on Monday. The corporate has a market cap of $249.84 billion, a P/E ratio of 13.33, a price-to-earnings-growth ratio of 1.20 and a beta of 1.27. The corporate has a debt-to-equity ratio of zero.98, a fast ratio of zero.91 and a present ratio of zero.91. Financial institution of America Corp has a 12 month low of $22.66 and a 12 month excessive of $33.05.

Financial institution of America (NYSE:BAC) final posted its earnings outcomes on Monday, October 15th. The monetary providers supplier reported $zero.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $zero.62 by $zero.04. Financial institution of America had a web margin of 21.85% and a return on fairness of 10.82%. The enterprise had income of $22.78 billion for the quarter, in comparison with analysts’ expectations of $22.63 billion. Throughout the identical interval within the prior 12 months, the corporate posted $zero.48 EPS. The enterprise’s income for the quarter was up three.2% in comparison with the identical quarter final 12 months. As a gaggle, analysis analysts forecast that Financial institution of America Corp will publish 2.55 EPS for the present 12 months.

The corporate additionally just lately introduced a quarterly dividend, which was paid on Friday, December 28th. Shareholders of file on Friday, December seventh had been paid a $zero.15 dividend. This represents a $zero.60 annualized dividend and a yield of two.46%. The ex-dividend date of this dividend was Thursday, December sixth. Financial institution of America’s dividend payout ratio is presently 32.79%.

A variety of equities analysis analysts have issued reviews on BAC shares. Wolfe Analysis began protection on shares of Financial institution of America in a analysis report on Tuesday, September 25th. They issued an “outperform” score for the corporate. BMO Capital Markets upped their worth goal on shares of Financial institution of America from $35.00 to $36.00 and gave the inventory a “market carry out” score in a analysis report on Tuesday, October 16th. ValuEngine downgraded shares of Financial institution of America from a “maintain” score to a “promote” score in a analysis report on Tuesday, October 23rd. Credit score Suisse Group lowered their goal worth on shares of Financial institution of America from $36.00 to $35.00 and set an “outperform” score for the corporate in a analysis report on Friday, December seventh. Lastly, Keefe, Bruyette & Woods downgraded shares of Financial institution of America from an “outperform” score to a “maintain” score and lowered their goal worth for the corporate from $34.00 to $29.00 in a analysis report on Tuesday, December 11th. Seven analysis analysts have rated the inventory with a maintain score and 7 have given a purchase score to the corporate. Financial institution of America has a mean score of “Purchase” and a mean worth goal of $34.01.

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Financial institution of America Firm Profile

Financial institution of America Company, by way of its subsidiaries, gives banking and monetary services and products for particular person customers, small- and middle-market companies, institutional buyers, massive companies, and governments worldwide. It operates by way of 4 segments: Client Banking, International Wealth & Funding Administration (GWIM), International Banking, and International Markets.

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

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