Bank of America Corporation

The institutional investor owned 3,096,240 shares of the financial services provider's stock after acquiring an additional 16,040 shares during the period. Investec Asset Management North America Inc acquired 80,597 shares as Bank Of America Corp (BAC)'s stock declined 6.00%. For the income oriented investors, the existing payout ratio will be observed closely, providing a valuable insight into Bank of America Corporation's dividend policy. The Maryland-based Financial Consulate Incorporated has invested 0.27% in M&T Bank Corporation (NYSE:MTB). Bank of America Corp (NYSE:BAC) has risen 58.64% since October 13, 2016 and is uptrending. Crystal Rock Management holds 202,400 shares. Welch Group LLC increased its position in Bank of America Corporation by 0.4% in the first quarter. Canaccord Genuity maintained the stock with "Hold" rating in Wednesday, June 29 report. Finally, Arbor Investment Advisors LLC grew its holdings in Bank of America Corporation by 0.3% during the second quarter. Hedge funds and other institutional investors own 61.64% of the company's stock. The firm has a 50-day moving average of $24.65 and a 200-day moving average of $23.91. Citigroup reported revenue of $18.2 billion and an EPS of $1.42. Bank of America Corporation accounts for approximately 1.1% of New Mexico Educational Retirement Board's holdings, making the stock its 12th largest position.

Bank of America Corp, the second-largest US bank by assets, reported a 15 percent rise in quarterly profit as the lender kept a tight leash on costs and benefited from higher interest rates. Earnings also beat estimates of $0.45 by Thomson Reuters.

The company reported earnings per share of 41 cents on revenue of $21.64 billion in the third quarter of 2016. The Crestwood Advisors Llc holds 876,550 shares with $21.06 million value, up from 813,087 last quarter. The Corvex Management Lp holds 5.20 million shares with $126.20M value, up from 3.00M last quarter. During the same quarter in the prior year, the business posted $0.41 EPS. Its up 0.08, from 0.82 in 2017Q1. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.89%. This is a boost from Bank of America Corporation's previous quarterly dividend of $0.08. Bank of America Corporation's dividend payout ratio is now 28.57%. Us Bank De holds 0.46% of its portfolio in Bank of America Corp (NYSE:BAC) for 5.63 million shares. This buyback authorization authorizes the financial services provider to buy up to 4.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's leadership believes its shares are undervalued. The stock rose 2.04% or $0.52 reaching $25.95. About 20.52M shares traded.


The stock decreased 0.89% or $0.07 during the last trading session, reaching $7.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.18% of the company's stock. If you are viewing this news story on another domain, it was illegally stolen and republished in violation of United States and global copyright & trademark laws. The original version of this story can be read at https://www.dispatchtribunal.com/2017/10/13/kovitz-investment-group-partners-llc-has-75-12-million-stake-in-bank-of-america-corporation-bac.html.

Other equities research analysts have also issued reports about the company. Baird reiterated a hold rating and set a $24.00 price target on shares of Bank of America Corporation in a research report on Sunday, October 1st. Public Storage had 52 analyst reports since July 21, 2015 according to SRatingsIntel. Deutsche Bank maintained the shares of BAC in report on Tuesday, August 25 with "Buy" rating. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company. Rosenblatt upgraded it to "Buy" rating and $47 target in Tuesday, October 27 report. Dimensional Fund Advsr LP has invested 0.64% in Bank of America Corp (NYSE:BAC). This led to growth in profits from consumer banking, wealth and investment management and global banking.


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