Bank of America Co. (NYSE:BAC) Stock Holdings Lowered by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. lowered its position in shares of Bank of America Co. (NYSE:BAC) by 81.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 24,923 shares of the financial services provider’s stock after selling 106,906 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Bank of America were worth $989,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of BAC. AMF Tjanstepension AB grew its position in shares of Bank of America by 959.6% during the second quarter. AMF Tjanstepension AB now owns 9,327,332 shares of the financial services provider’s stock worth $370,948,000 after acquiring an additional 8,447,091 shares during the last quarter. 1832 Asset Management L.P. grew its position in Bank of America by 1,432.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 6,151,042 shares of the financial services provider’s stock valued at $244,627,000 after buying an additional 5,749,567 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in Bank of America by 193.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,608,305 shares of the financial services provider’s stock valued at $301,898,000 after buying an additional 5,015,378 shares in the last quarter. International Assets Investment Management LLC grew its position in Bank of America by 3,550.7% in the 3rd quarter. International Assets Investment Management LLC now owns 4,547,788 shares of the financial services provider’s stock valued at $1,804,560,000 after buying an additional 4,423,215 shares in the last quarter. Finally, D1 Capital Partners L.P. bought a new position in Bank of America in the 3rd quarter valued at about $174,858,000. Institutional investors own 70.71% of the company’s stock.

Insider Buying and Selling at Bank of America

In other Bank of America news, major shareholder Berkshire Hathaway Inc sold 8,694,538 shares of Bank of America stock in a transaction that occurred 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 directly owns 766,305,462 shares in the company, valued at $32,606,297,408.10. The trade was a 1.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 70,007,916 shares of company stock worth $2,829,836,123 over the last ninety days. 0.29% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

BAC has been the subject of a number of recent analyst reports. Oppenheimer increased their target price 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. Deutsche Bank Aktiengesellschaft raised shares of Bank of America from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a report on Tuesday, September 3rd. StockNews.com raised shares of Bank of America from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $46.00 price target on shares of Bank of America in a report on Wednesday, October 9th. Finally, Evercore ISI upped their price target on shares of Bank of America from $44.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Bank of America currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.82.

Bank of America Stock Performance

BAC stock opened at $47.51 on Monday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market cap of $364.54 billion, a P/E ratio of 17.28, a P/E/G ratio of 1.61 and a beta of 1.32. The firm has a 50 day simple moving average of $43.02 and a 200 day simple moving average of $41.02. Bank of America Co. has a 52 week low of $30.04 and a 52 week high of $48.08.

Bank of America (NYSE:BAC) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.78 by $0.03. The business 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%. The firm’s quarterly revenue was up .4% compared to the same quarter last year. During the same period last year, the company posted $0.90 earnings per share. Research analysts anticipate that Bank of America Co. will post 3.27 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 6th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Friday, December 6th. Bank of America’s dividend payout ratio (DPR) is presently 37.82%.

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.