Unison Asset Management LLC Sells 257 Shares of Bank of America Co. (NYSE:BAC)

Unison Asset Management LLC reduced its stake in Bank of America Co. (NYSE:BAC) by 0.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 166,718 shares of the financial services provider’s stock after selling 257 shares during the period. Bank of America makes up approximately 3.1% of Unison Asset Management LLC’s investment portfolio, making the stock its 14th biggest position. Unison Asset Management LLC’s holdings in Bank of America were worth $6,615,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. McAdam LLC grew its holdings in shares of Bank of America by 2.1% during the second quarter. McAdam LLC now owns 11,434 shares of the financial services provider’s stock valued at $455,000 after buying an additional 238 shares during the last quarter. Integrity Financial Corp WA boosted its holdings in Bank of America by 1.6% in the third quarter. Integrity Financial Corp WA now owns 14,875 shares of the financial services provider’s stock worth $590,000 after purchasing an additional 240 shares during the last quarter. BTC Capital Management Inc. boosted its holdings in Bank of America by 1.2% in the second quarter. BTC Capital Management Inc. now owns 20,248 shares of the financial services provider’s stock worth $805,000 after purchasing an additional 248 shares during the last quarter. Central Bank & Trust Co. boosted its holdings in Bank of America by 15.1% in the second quarter. Central Bank & Trust Co. now owns 1,892 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 248 shares during the last quarter. Finally, SNS Financial Group LLC boosted its holdings in Bank of America by 3.3% in the second quarter. SNS Financial Group LLC now owns 7,783 shares of the financial services provider’s stock worth $310,000 after purchasing an additional 248 shares during the last quarter. 70.71% of the stock is currently owned by institutional investors.

Bank of America Price Performance

BAC stock opened at $47.54 on Monday. Bank of America Co. has a 12 month low of $29.32 and a 12 month high of $47.54. The company has a 50-day moving average price of $42.24 and a 200 day moving average price of $40.69. The stock has a market cap of $364.77 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 current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.09.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.81 earnings per share for the quarter, beating 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 company 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 posted $0.90 EPS. The firm’s revenue for the quarter was up .4% on a year-over-year basis. Equities research analysts anticipate that Bank of America Co. will post 3.27 earnings per share for the current year.

Bank of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 6th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.04 annualized dividend and a dividend yield of 2.19%. Bank of America’s dividend payout ratio is currently 37.82%.

Analyst Ratings Changes

Several brokerages recently issued reports on BAC. Keefe, Bruyette & Woods raised their target price on shares of Bank of America from $48.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $46.00 price target on shares of Bank of America in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Tuesday, September 3rd. Morgan Stanley increased their price target on shares of Bank of America from $47.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, Oppenheimer increased their price target on shares of Bank of America from $50.00 to $56.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $44.26.

Insider Buying and Selling

In other Bank of America news, major shareholder Berkshire Hathaway Inc sold 7,081,075 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $39.95, for a total transaction of $282,888,946.25. Following the sale, the insider now owns 896,719,301 shares of the company’s stock, valued at approximately $35,823,936,074.95. The trade was a 0.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Bernard A. Mensah sold 92,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $39.80, for a total transaction 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 trade represents a 48.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 85,119,690 shares of company stock worth $3,438,777,236 in the last 90 days. 0.29% of the stock is owned by corporate insiders.

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.