Vantage Financial Partners Ltd. Inc. Has $1.23 Million Position in Bank of America Corp (NYSE:BAC)

Vantage Financial Partners Ltd. Inc. lifted its position in Bank of America Corp (NYSE:BAC) by 16.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,700 shares of the financial services provider’s stock after acquiring an additional 6,800 shares during the period. Bank of America comprises approximately 0.9% of Vantage Financial Partners Ltd. Inc.’s holdings, making the stock its 14th largest position. Vantage Financial Partners Ltd. Inc.’s holdings in Bank of America were worth $1,234,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in BAC. Janus Henderson Group PLC lifted its stake in shares of Bank of America by 587.0% in the second quarter. Janus Henderson Group PLC now owns 13,598,678 shares of the financial services provider’s stock worth $329,911,000 after buying an additional 11,619,173 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Bank of America by 27.8% in the second quarter. The Manufacturers Life Insurance Company now owns 44,136,977 shares of the financial services provider’s stock worth $1,070,762,000 after buying an additional 9,612,342 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Bank of America by 1.4% in the second quarter. Vanguard Group Inc. now owns 661,494,339 shares of the financial services provider’s stock worth $16,047,853,000 after buying an additional 9,117,007 shares during the last quarter. Parametric Portfolio Associates LLC lifted its stake in shares of Bank of America by 52.4% in the second quarter. Parametric Portfolio Associates LLC now owns 24,012,218 shares of the financial services provider’s stock worth $582,536,000 after buying an additional 8,261,288 shares during the last quarter. Finally, Investec Asset Management LTD lifted its stake in shares of Bank of America by 68.6% in the second quarter. Investec Asset Management LTD now owns 17,772,325 shares of the financial services provider’s stock worth $431,157,000 after buying an additional 7,231,615 shares during the last quarter. 68.46% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have recently weighed in on BAC. Vetr cut shares of Bank of America from a “strong-buy” rating to a “buy” rating and set a $33.89 price objective for the company. in a research note on Wednesday, January 10th. Robert W. Baird reaffirmed a “hold” rating and set a $24.00 target price on shares of Bank of America in a research report on Sunday, October 1st. Deutsche Bank reaffirmed a “hold” rating and set a $25.00 target price (up previously from $23.00) on shares of Bank of America in a research report on Tuesday, September 26th. BMO Capital Markets reaffirmed a “hold” rating and set a $31.00 target price on shares of Bank of America in a research report on Monday, January 8th. Finally, BidaskClub raised shares of Bank of America from a “sell” rating to a “hold” rating in a research report on Friday, September 22nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $29.14.

Shares of Bank of America Corp (NYSE:BAC) traded up $0.53 during midday trading on Monday, reaching $31.19. 66,257,552 shares of the company traded hands, compared to its average volume of 61,059,457. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.91. Bank of America Corp has a 1-year low of $22.01 and a 1-year high of $31.20. The firm has a market cap of $325,330.00, a P/E ratio of 18.13, a price-to-earnings-growth ratio of 1.70 and a beta of 1.32.

Bank of America (NYSE:BAC) last announced its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. The business had revenue of $22.08 billion for the quarter, compared to the consensus estimate of $22.07 billion. Bank of America had a net margin of 20.66% and a return on equity of 8.33%. Bank of America’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the company posted $0.41 EPS. research analysts predict that Bank of America Corp will post 1.79 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 1st were given a $0.12 dividend. The ex-dividend date was Thursday, November 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.54%. Bank of America’s dividend payout ratio is 27.91%.

Bank of America announced that its Board of Directors has authorized a share repurchase plan on Tuesday, December 5th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

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Bank of America Company 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 (NYSE:BAC)

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