Bank of America Corporation (BAC) Position Trimmed by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lessened its stake in Bank of America Corporation (NYSE:BAC) by 1.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,928,311 shares of the financial services provider’s stock after selling 331,288 shares during the quarter. Bank of America Corporation accounts for 1.0% of Mitsubishi UFJ Trust & Banking Corp’s investment portfolio, making the stock its 12th largest position. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.20% of Bank of America Corporation worth $507,721,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also bought and sold shares of the company. Alpha Cubed Investments LLC boosted its position in shares of Bank of America Corporation by 70.3% in the first quarter. Alpha Cubed Investments LLC now owns 86,831 shares of the financial services provider’s stock worth $2,048,000 after acquiring an additional 35,852 shares during the last quarter. Capital One National Association lifted its position in Bank of America Corporation by 31.0% during the first quarter. Capital One National Association now owns 542,232 shares of the financial services provider’s stock valued at $12,791,000 after buying an additional 128,430 shares in the last quarter. Wealth Architects LLC lifted its position in Bank of America Corporation by 2.3% during the first quarter. Wealth Architects LLC now owns 11,395 shares of the financial services provider’s stock valued at $269,000 after buying an additional 252 shares in the last quarter. Eagle Ridge Investment Management lifted its position in Bank of America Corporation by 4.3% during the first quarter. Eagle Ridge Investment Management now owns 369,452 shares of the financial services provider’s stock valued at $8,715,000 after buying an additional 15,232 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in Bank of America Corporation by 2.5% during the first quarter. Rhumbline Advisers now owns 17,373,765 shares of the financial services provider’s stock valued at $409,847,000 after buying an additional 419,734 shares in the last quarter. Hedge funds and other institutional investors own 62.19% of the company’s stock.

Bank of America Corporation (NYSE BAC) opened at $26.30 on Tuesday. The stock has a market capitalization of $275,370.00, a P/E ratio of 15.15, a price-to-earnings-growth ratio of 1.84 and a beta of 1.31. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.91. Bank of America Corporation has a fifty-two week low of $19.40 and a fifty-two week high of $27.98.

Bank of America Corporation (NYSE:BAC) last announced its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.02. The business had revenue of $22.08 billion for the quarter, compared to analyst estimates of $22.07 billion. Bank of America Corporation had a return on equity of 8.33% and a net margin of 20.66%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 earnings per share. equities analysts expect that Bank of America Corporation will post 1.8 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 1st will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date is Thursday, November 30th. Bank of America Corporation’s payout ratio is 27.91%.

A number of analysts have recently issued reports on the stock. BidaskClub lowered shares of Bank of America Corporation from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 9th. Vetr upgraded shares of Bank of America Corporation from a “sell” rating to a “strong-buy” rating and set a $33.96 price target for the company in a research note on Tuesday, November 7th. J P Morgan Chase & Co boosted their target price on shares of Bank of America Corporation from $27.50 to $28.50 and gave the company an “overweight” rating in a research note on Wednesday, November 1st. UBS AG set a $27.00 price target on shares of Bank of America Corporation and gave the company a “hold” rating in a report on Monday, October 16th. Finally, Nomura boosted their price target on shares of Bank of America Corporation from $28.00 to $30.00 and gave the company a “buy” rating in a report on Monday, October 16th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-four have assigned a buy rating and three have given a strong buy rating to the stock. Bank of America Corporation has a consensus rating of “Buy” and an average target price of $25.82.

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Bank of America Corporation Profile

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.

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

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