Financial Engines Advisors L.L.C. Has $225,000 Stock Position in Bank of America Co. (NYSE:BAC)

Financial Engines Advisors L.L.C. cut its holdings in shares of Bank of America Co. (NYSE:BAC) by 9.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,231 shares of the financial services provider’s stock after selling 752 shares during the quarter. Financial Engines Advisors L.L.C.’s holdings in Bank of America were worth $225,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Oliver Lagore Vanvalin Investment Group acquired a new stake in Bank of America during the 1st quarter worth about $26,000. Richelieu Gestion PLC acquired a new stake in Bank of America during the 2nd quarter worth about $27,000. Truvestments Capital LLC acquired a new stake in Bank of America during the 2nd quarter worth about $29,000. Capital Management Associates NY acquired a new stake in Bank of America during the 1st quarter worth about $31,000. Finally, Foster Dykema Cabot & Co. Inc. MA acquired a new stake in Bank of America during the 2nd quarter worth about $31,000. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Bank of America

In other news, major shareholder Of America Corp /De/ Bank sold 4 shares of Bank of America stock in a transaction that occurred on Wednesday, November 16th. The stock was sold at an average price of $23,750.00, for a total transaction of $95,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.26% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

BAC has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft cut their price target on Bank of America from $51.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, September 12th. JPMorgan Chase & Co. raised their price target on Bank of America from $35.50 to $39.00 in a research note on Wednesday, November 2nd. StockNews.com initiated coverage on Bank of America in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Citigroup downgraded Bank of America from a “buy” rating to a “neutral” rating and set a $40.00 price target for the company. in a research note on Monday, November 14th. Finally, The Goldman Sachs Group cut their price target on Bank of America from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, October 4th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $44.68.

Bank of America Stock Performance

BAC opened at $37.61 on Thursday. The firm has a market capitalization of $301.72 billion, a P/E ratio of 11.90, a price-to-earnings-growth ratio of 1.68 and a beta of 1.38. The stock’s 50 day moving average price is $34.26 and its two-hundred day moving average price is $34.06. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.12. Bank of America Co. has a 12-month low of $29.31 and a 12-month high of $50.11.

Bank of America (NYSE:BACGet Rating) last released its earnings results on Monday, October 17th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.02. The firm had revenue of $24.50 billion for the quarter, compared to analyst estimates of $23.46 billion. Bank of America had a return on equity of 11.36% and a net margin of 26.52%. The company’s revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.85 EPS. On average, equities analysts forecast that Bank of America Co. will post 3.19 earnings per share for the current year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Friday, December 2nd will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend is Thursday, December 1st. Bank of America’s dividend payout ratio (DPR) is currently 27.85%.

Bank of America Profile

(Get Rating)

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. Its Consumer Banking segment offers traditional and money market savings accounts, certificates of deposit and IRAs, noninterest-and interest-bearing checking accounts, and investment accounts and products; and credit and debit cards, residential mortgages, and home equity loans, as well as direct and indirect loans, such as automotive, recreational vehicle, and consumer personal loans.

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

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