Nottingham Advisors Inc. Buys Shares of 25,266 Bank of America Co. (NYSE:BAC)

Nottingham Advisors Inc. acquired a new position in shares of Bank of America Co. (NYSE:BAC) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 25,266 shares of the financial services provider’s stock, valued at approximately $1,003,000.

Several other large investors have also made changes to their positions in the company. Consolidated Capital Management LLC boosted its holdings in Bank of America by 1.9% in the 3rd quarter. Consolidated Capital Management LLC now owns 119,657 shares of the financial services provider’s stock worth $4,748,000 after acquiring an additional 2,206 shares during the period. Mezzasalma Advisors LLC boosted its holdings in Bank of America by 4.9% in the third quarter. Mezzasalma Advisors LLC now owns 8,922 shares of the financial services provider’s stock worth $354,000 after purchasing an additional 418 shares during the period. Hengehold Capital Management LLC increased its stake in Bank of America by 24.8% during the third quarter. Hengehold Capital Management LLC now owns 7,813 shares of the financial services provider’s stock valued at $310,000 after purchasing an additional 1,555 shares during the last quarter. Probity Advisors Inc. lifted its position in shares of Bank of America by 2.1% in the 3rd quarter. Probity Advisors Inc. now owns 47,486 shares of the financial services provider’s stock worth $1,884,000 after buying an additional 985 shares during the last quarter. Finally, Kowal Investment Group LLC boosted its holdings in shares of Bank of America by 6.7% in the 3rd quarter. Kowal Investment Group LLC now owns 16,365 shares of the financial services provider’s stock valued at $649,000 after buying an additional 1,021 shares during the period. 70.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BAC has been the subject of a number of research reports. Piper Sandler Companies upgraded Bank of America from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $37.00 to $42.00 in a research note on Tuesday, July 9th. Evercore ISI increased their target price on shares of Bank of America from $44.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday. Morgan Stanley lifted their target price on shares of Bank of America from $47.00 to $48.00 and gave the company an “overweight” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft raised shares of Bank of America from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research report on Tuesday, September 3rd. Finally, Barclays upped their price target on shares of Bank of America from $49.00 to $53.00 and gave the company an “overweight” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $42.62.

Insider Buying and Selling

In other Bank of America news, insider Lindsay D. Hans sold 10,901 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $36.91, for a total transaction of $402,355.91. Following the sale, the insider now owns 10,907 shares in the company, valued at $402,577.37. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Lindsay D. Hans sold 10,901 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $36.91, for a total value of $402,355.91. Following the completion of the sale, the insider now directly owns 10,907 shares of the company’s stock, valued at approximately $402,577.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Berkshire Hathaway Inc sold 12,291,807 shares of the business’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $43.13, for a total value of $530,145,635.91. Following the completion of the transaction, the insider now owns 998,961,079 shares in the company, valued at $43,085,191,337.27. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 148,230,389 shares of company stock worth $6,023,064,684. 0.29% of the stock is owned by corporate insiders.

Bank of America Stock Up 0.1 %

Shares of BAC traded up $0.03 during trading hours on Thursday, hitting $42.83. The company had a trading volume of 2,053,093 shares, compared to its average volume of 38,758,441. The company has a market capitalization of $334.95 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 1.39 and a beta of 1.33. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.09. The company’s fifty day moving average price is $39.72 and its two-hundred day moving average price is $39.35. Bank of America Co. has a one year low of $24.96 and a one year high of $44.44.

Bank of America (NYSE:BAC) last released its earnings results on Tuesday, October 15th. The financial services provider reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.03. The company had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.25 billion. Bank of America had a net margin of 13.28% and a return on equity of 10.56%. Bank of America’s revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.90 EPS. As a group, equities analysts forecast that Bank of America Co. will post 3.25 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 6th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.43%. Bank of America’s payout ratio is presently 35.99%.

Bank of America declared that its board has approved a share repurchase program on Wednesday, July 24th that permits the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 7.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

About Bank of America

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.