Thompson Siegel & Walmsley LLC Decreases Holdings in Bank of America Co. (NYSE:BAC)

Thompson Siegel & Walmsley LLC trimmed its position in shares of Bank of America Co. (NYSE:BAC) by 3.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 278,583 shares of the financial services provider’s stock after selling 11,412 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in Bank of America were worth $11,054,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fairway Wealth LLC purchased a new position in Bank of America during the second quarter valued at approximately $27,000. POM Investment Strategies LLC raised its stake in Bank of America by 839.0% in the 2nd quarter. POM Investment Strategies LLC now owns 723 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 646 shares during the last quarter. Kennebec Savings Bank purchased a new position in shares of Bank of America in the third quarter worth about $29,000. Bbjs Financial Advisors LLC acquired a new stake in Bank of America during the 2nd quarter valued at approximately $30,000. Finally, Christopher J. Hasenberg Inc boosted its holdings in Bank of America by 525.9% in the third quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 852 shares during the last quarter. 70.71% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Bernard A. Mensah sold 92,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $39.80, for a total value of $3,661,600.00. Following the sale, the insider now directly owns 96,082 shares in the company, valued at $3,824,063.60. This represents a 48.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Berkshire Hathaway Inc sold 11,422,560 shares of Bank of America stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $40.78, for a total transaction of $465,811,996.80. Following the sale, the insider now owns 835,908,435 shares of the company’s stock, valued at approximately $34,088,345,979.30. This trade represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 96,094,698 shares of company stock worth $3,876,350,805 in the last quarter. Company insiders own 0.29% of the company’s stock.

Bank of America Trading Up 1.1 %

NYSE BAC opened at $46.55 on Friday. The firm’s fifty day moving average price is $42.07 and its 200 day moving average price is $40.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.80 and a quick ratio of 0.80. Bank of America Co. has a 12 month low of $29.32 and a 12 month high of $47.05. The company has a market capitalization of $357.13 billion, a price-to-earnings ratio of 16.93, a price-to-earnings-growth ratio of 1.57 and a beta of 1.32.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.78 by $0.03. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. The firm had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.25 billion. During the same quarter in the prior year, the firm earned $0.90 EPS. Bank of America’s revenue for the quarter was up .4% on a year-over-year basis. On average, sell-side analysts expect that Bank of America Co. will post 3.27 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 6th will be given a dividend of $0.26 per share. The ex-dividend date is Friday, December 6th. This represents a $1.04 annualized dividend and a yield of 2.23%. Bank of America’s payout ratio is currently 37.82%.

Analysts Set New Price Targets

Several research firms recently issued reports on BAC. StockNews.com upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Morgan Stanley upped their target price on shares of Bank of America from $47.00 to $48.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft upgraded Bank of America from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a report on Tuesday, September 3rd. Evercore ISI boosted their price objective 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. Finally, Phillip Securities upgraded Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price target for the company in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.26.

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.