Hara Capital LLC Has $677,000 Stock Position in Bank of America Co. (NYSE:BAC)

Hara Capital LLC reduced its position in Bank of America Co. (NYSE:BAC) by 3.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,051 shares of the financial services provider’s stock after selling 680 shares during the period. Hara Capital LLC’s holdings in Bank of America were worth $677,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quent Capital LLC raised its stake in shares of Bank of America by 3.6% in the first quarter. Quent Capital LLC now owns 29,760 shares of the financial services provider’s stock worth $1,129,000 after purchasing an additional 1,037 shares during the last quarter. Advisory Alpha LLC boosted its holdings in Bank of America by 6.0% during the 1st quarter. Advisory Alpha LLC now owns 24,461 shares of the financial services provider’s stock worth $928,000 after acquiring an additional 1,379 shares during the last quarter. Tweedy Browne Co LLC grew its stake in shares of Bank of America by 0.6% in the 1st quarter. Tweedy Browne Co LLC now owns 521,151 shares of the financial services provider’s stock worth $19,762,000 after acquiring an additional 3,125 shares in the last quarter. Concord Investment Counsel Inc. bought a new position in shares of Bank of America during the first quarter valued at about $6,075,000. Finally, CFO4Life Group LLC boosted its holdings in Bank of America by 18.7% during the first quarter. CFO4Life Group LLC now owns 14,066 shares of the financial services provider’s stock worth $533,000 after purchasing an additional 2,215 shares during the last quarter. Institutional investors own 70.71% of the company’s stock.

Bank of America Price Performance

BAC traded down $0.24 on Thursday, reaching $45.17. The company had a trading volume of 10,435,113 shares, compared to its average volume of 38,544,438. Bank of America Co. has a 52-week low of $27.34 and a 52-week high of $45.55. The company has a market cap of $346.58 billion, a price-to-earnings ratio of 16.51, a P/E/G ratio of 1.40 and a beta of 1.32. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.80 and a current ratio of 0.80. The business has a 50 day simple moving average of $40.72 and a 200 day simple moving average of $39.96.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.03. The company had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.25 billion. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. The firm’s revenue was up .4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.90 EPS. As a group, sell-side analysts anticipate that Bank of America Co. will post 3.26 EPS for the current year.

Bank of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 6th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.04 annualized dividend and a dividend yield of 2.30%. Bank of America’s dividend payout ratio (DPR) is presently 37.82%.

Bank of America declared that its Board of Directors has approved a stock repurchase plan on Wednesday, July 24th that permits the company to buyback $25.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 7.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several research firms have commented on BAC. BMO Capital Markets lifted their target price on shares of Bank of America from $38.00 to $40.00 and gave the stock a “market perform” rating in a research report on Thursday, July 18th. Cfra reissued a “sell” rating and issued a $39.00 price objective on shares of Bank of America in a research report on Tuesday, July 16th. StockNews.com upgraded Bank of America from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Morgan Stanley increased their price target on shares of Bank of America from $47.00 to $48.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Finally, Phillip Securities raised shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price objective on the stock in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $42.97.

Insider Activity at Bank of America

In other Bank of America news, insider Bernard A. Mensah sold 92,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 96,082 shares of the company’s stock, valued at $3,824,063.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Bernard A. Mensah sold 92,000 shares of Bank of America stock in a transaction 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 transaction, the insider now owns 96,082 shares in the company, valued at $3,824,063.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Berkshire Hathaway Inc sold 11,422,560 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,067,817 shares of company stock valued at $4,548,518,070. Corporate insiders own 0.29% of the company’s stock.

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.