Cahill Financial Advisors Inc. Has $485,000 Stock Holdings in Bank of America Co. (NYSE:BAC)

Cahill Financial Advisors Inc. lifted its holdings in shares of Bank of America Co. (NYSE:BAC) by 2.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 12,231 shares of the financial services provider’s stock after buying an additional 249 shares during the period. Cahill Financial Advisors Inc.’s holdings in Bank of America were worth $485,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Legal & General Group Plc increased its stake in Bank of America by 1.6% during the second quarter. Legal & General Group Plc now owns 57,539,506 shares of the financial services provider’s stock valued at $2,288,347,000 after acquiring an additional 895,884 shares during the period. Diamond Hill Capital Management Inc. grew its holdings in shares of Bank of America by 0.4% during the third quarter. Diamond Hill Capital Management Inc. now owns 17,042,952 shares of the financial services provider’s stock worth $676,264,000 after purchasing an additional 59,853 shares during the last quarter. Clearbridge Investments LLC increased its position in Bank of America by 23.6% in the 2nd quarter. Clearbridge Investments LLC now owns 16,260,822 shares of the financial services provider’s stock valued at $646,693,000 after acquiring an additional 3,109,197 shares in the last quarter. Principal Financial Group Inc. raised its position in Bank of America by 3.8% in the 3rd quarter. Principal Financial Group Inc. now owns 15,415,630 shares of the financial services provider’s stock worth $611,692,000 after purchasing an additional 569,385 shares during the last quarter. Finally, National Pension Service lifted its stake in shares of Bank of America by 15.2% during the third quarter. National Pension Service now owns 13,502,778 shares of the financial services provider’s stock valued at $535,790,000 after acquiring an additional 1,783,631 shares during the period. Institutional investors own 70.71% of the company’s stock.

Wall Street Analyst Weigh In

BAC has been the topic of several recent research reports. Oppenheimer raised their price target on Bank of America from $50.00 to $56.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $46.00 price objective on shares of Bank of America in a research report on Wednesday, October 9th. Citigroup raised shares of Bank of America from a “neutral” rating to a “buy” rating and raised their price target for the stock from $46.00 to $54.00 in a research note on Friday, November 8th. Deutsche Bank Aktiengesellschaft raised Bank of America from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research report on Tuesday, September 3rd. Finally, Keefe, Bruyette & Woods lifted their price target on Bank of America from $48.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.26.

Insider Transactions at Bank of America

In other Bank of America news, insider Bernard A. Mensah sold 92,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Berkshire Hathaway Inc sold 8,694,538 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $42.55, for a total transaction of $369,952,591.90. Following the transaction, the insider now owns 766,305,462 shares of the company’s stock, valued at $32,606,297,408.10. This trade represents a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 85,119,690 shares of company stock valued at $3,438,777,236 over the last three months. Company insiders own 0.29% of the company’s stock.

Bank of America Stock Up 1.2 %

Shares of NYSE BAC opened at $47.00 on Monday. The business’s fifty day moving average price is $42.24 and its 200-day moving average price is $40.69. Bank of America Co. has a one year low of $29.32 and a one year high of $47.22. The stock has a market capitalization of $360.63 billion, a PE ratio of 17.09, a P/E/G ratio of 1.59 and a beta of 1.32. 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 (NYSE:BAC) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $25.25 billion. During the same quarter last year, the business earned $0.90 earnings per share. The company’s quarterly revenue was up .4% on a year-over-year basis. On average, equities research analysts anticipate that Bank of America Co. will post 3.27 EPS for the current year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.26 per share. The ex-dividend date is Friday, December 6th. This represents a $1.04 dividend on an annualized basis and a yield of 2.21%. Bank of America’s payout ratio is 37.82%.

Bank of America 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.