Bank of America Corporation (BAC) Shares Bought by Aveo Capital Partners LLC

Aveo Capital Partners LLC lifted its stake in Bank of America Corporation (NYSE:BAC) by 1.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,944 shares of the financial services provider’s stock after purchasing an additional 149 shares during the quarter. Aveo Capital Partners LLC’s holdings in Bank of America Corporation were worth $217,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in BAC. Waldron LP raised its position in shares of Bank of America Corporation by 112.2% in the 1st quarter. Waldron LP now owns 24,550 shares of the financial services provider’s stock valued at $578,000 after purchasing an additional 12,978 shares during the last quarter. First Midwest Bank Trust Division raised its position in shares of Bank of America Corporation by 1.0% in the 1st quarter. First Midwest Bank Trust Division now owns 100,762 shares of the financial services provider’s stock valued at $2,377,000 after purchasing an additional 958 shares during the last quarter. Breton Hill Capital Ltd. raised its position in shares of Bank of America Corporation by 112.4% in the 1st quarter. Breton Hill Capital Ltd. now owns 171,131 shares of the financial services provider’s stock valued at $4,037,000 after purchasing an additional 90,576 shares during the last quarter. Argyle Capital Management Inc. raised its position in shares of Bank of America Corporation by 0.7% in the 1st quarter. Argyle Capital Management Inc. now owns 142,836 shares of the financial services provider’s stock valued at $3,370,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Greenwich Wealth Management LLC raised its position in shares of Bank of America Corporation by 2.0% in the 1st quarter. Greenwich Wealth Management LLC now owns 139,143 shares of the financial services provider’s stock valued at $3,282,000 after purchasing an additional 2,768 shares during the last quarter. 61.64% of the stock is owned by hedge funds and other institutional investors.

In other Bank of America Corporation news, Director Frank P. Bramble sold 86,763 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $24.16, for a total value of $2,096,194.08. Following the sale, the director now owns 50,000 shares of the company’s stock, valued at $1,208,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

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Several equities analysts recently commented on BAC shares. Vetr lowered shares of Bank of America Corporation from a “hold” rating to a “sell” rating and set a $23.52 price objective for the company. in a research report on Tuesday, July 4th. Deutsche Bank AG reaffirmed a “hold” rating on shares of Bank of America Corporation in a research report on Monday, July 3rd. CIBC reaffirmed an “outperform” rating on shares of Bank of America Corporation in a research report on Tuesday, July 11th. Robert W. Baird reaffirmed a “hold” rating and issued a $24.00 price objective on shares of Bank of America Corporation in a research report on Friday, August 25th. Finally, BidaskClub raised shares of Bank of America Corporation from a “hold” rating to a “buy” rating in a research report on Friday, July 7th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $24.88.

Bank of America Corporation (NYSE:BAC) last posted its earnings results on Tuesday, July 18th. The financial services provider reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.03. The company had revenue of $22.80 billion for the quarter, compared to analyst estimates of $21.84 billion. Bank of America Corporation had a return on equity of 8.11% and a net margin of 20.28%. Bank of America Corporation’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.41 earnings per share.

The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 1st were issued a $0.12 dividend. This is a positive change from Bank of America Corporation’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.48 annualized dividend and a yield of 1.89%. Bank of America Corporation’s dividend payout ratio is 28.57%.

Bank of America Corporation announced that its board has authorized a stock buyback plan on Wednesday, June 28th that permits the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 4.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

About Bank of America Corporation

Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers and others with a range of banking, investing, asset management and other financial and risk management products and services. The Company, through its banking and various non-bank subsidiaries, throughout the United States and in international markets, provides a range of banking and non-bank financial services and products through four business segments: Consumer Banking, which comprises Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S.

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

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