Aprio Wealth Management LLC Has $586,000 Stock Holdings in Bank of America Co. (NYSE:BAC)

Aprio Wealth Management LLC lifted its holdings in Bank of America Co. (NYSE:BAC) by 38.7% during the 3rd quarter, Holdings Channel reports. The fund owned 13,803 shares of the financial services provider’s stock after acquiring an additional 3,850 shares during the quarter. Aprio Wealth Management LLC’s holdings in Bank of America were worth $586,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Macquarie Group Ltd. raised its position in shares of Bank of America by 58.0% during the 2nd quarter. Macquarie Group Ltd. now owns 2,559,970 shares of the financial services provider’s stock valued at $105,547,000 after acquiring an additional 939,511 shares during the last quarter. Arden Trust Co raised its position in shares of Bank of America by 12.5% during the 2nd quarter. Arden Trust Co now owns 93,322 shares of the financial services provider’s stock valued at $3,847,000 after acquiring an additional 10,343 shares during the last quarter. Galvin Gaustad & Stein LLC raised its position in shares of Bank of America by 2.0% during the 2nd quarter. Galvin Gaustad & Stein LLC now owns 168,175 shares of the financial services provider’s stock valued at $6,934,000 after acquiring an additional 3,275 shares during the last quarter. NEXT Financial Group Inc raised its position in shares of Bank of America by 15.6% during the 2nd quarter. NEXT Financial Group Inc now owns 65,919 shares of the financial services provider’s stock valued at $2,718,000 after acquiring an additional 8,905 shares during the last quarter. Finally, Moody Lynn & Lieberson LLC grew its holdings in shares of Bank of America by 1.2% in the 2nd quarter. Moody Lynn & Lieberson LLC now owns 541,994 shares of the financial services provider’s stock valued at $22,346,000 after buying an additional 6,624 shares during the period. Hedge funds and other institutional investors own 70.67% of the company’s stock.

In related news, insider Dean C. Athanasia sold 108,478 shares of Bank of America stock in a transaction on Friday, October 15th. The shares were sold at an average price of $45.77, for a total transaction of $4,965,038.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Frank P. Bramble sold 2,200 shares of Bank of America stock in a transaction on Tuesday, November 2nd. The stock was sold at an average price of $48.22, for a total transaction of $106,084.00. The disclosure for this sale can be found here. Company insiders own 0.22% of the company’s stock.

BAC has been the subject of several research analyst reports. Royal Bank of Canada boosted their price target on shares of Bank of America from $44.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, October 15th. Odeon Capital Group raised shares of Bank of America from a “hold” rating to a “buy” rating and set a $46.50 target price for the company in a research note on Monday, September 13th. The Goldman Sachs Group upped their target price on shares of Bank of America from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, October 15th. Wolfe Research lowered shares of Bank of America from an “outperform” rating to a “market perform” rating and set a $44.00 target price for the company. in a research note on Wednesday, October 13th. Finally, Wells Fargo & Company restated an “overweight” rating and set a $60.00 price objective (up from $55.00) on shares of Bank of America in a research note on Monday, October 25th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $44.04.

Bank of America stock opened at $47.63 on Thursday. The stock has a market cap of $389.81 billion, a P/E ratio of 14.30, a P/E/G ratio of 1.86 and a beta of 1.53. The company has a quick ratio of 0.73, a current ratio of 0.74 and a debt-to-equity ratio of 1.12. Bank of America Co. has a twelve month low of $28.10 and a twelve month high of $48.69. The company’s 50-day moving average price is $45.21 and its two-hundred day moving average price is $42.33.

Bank of America (NYSE:BAC) last announced its earnings results on Thursday, October 14th. The financial services provider reported $0.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.14. Bank of America had a net margin of 33.10% and a return on equity of 12.16%. The company had revenue of $22.77 billion for the quarter, compared to analysts’ expectations of $21.60 billion. During the same period last year, the firm earned $0.51 earnings per share. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. Equities analysts anticipate that Bank of America Co. will post 3.49 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 31st. Investors of record on Friday, December 3rd will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, December 2nd. This represents a $0.84 annualized dividend and a dividend yield of 1.76%. Bank of America’s dividend payout ratio is 25.23%.

Bank of America Company Profile

Bank of America Corp. is a bank and financial holding company, which engages in the provision of banking and nonbank financial services. It operates through the following segments: Consumer Banking, Global Wealth and Investment Management, Global Banking, Global Markets, and All Other. The Consumer Banking segment offers credit, banking, and investment products and services to consumers and small businesses.

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

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