Aviva PLC grew its position in shares of Bank of America Corporation (NYSE:BAC) by 1.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,177,002 shares of the financial services provider’s stock after buying an additional 104,708 shares during the quarter. Bank of America Corporation accounts for 1.0% of Aviva PLC’s investment portfolio, making the stock its 14th largest holding. Aviva PLC owned 0.07% of Bank of America Corporation worth $174,186,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Victory Capital Management Inc. raised its position in Bank of America Corporation by 135.1% during the 2nd quarter. Victory Capital Management Inc. now owns 799,419 shares of the financial services provider’s stock worth $19,394,000 after buying an additional 459,365 shares during the last quarter. MAI Capital Management raised its position in Bank of America Corporation by 11.2% during the 2nd quarter. MAI Capital Management now owns 436,799 shares of the financial services provider’s stock worth $10,597,000 after buying an additional 43,844 shares during the last quarter. First National Trust Co. raised its position in Bank of America Corporation by 10.2% during the 2nd quarter. First National Trust Co. now owns 116,988 shares of the financial services provider’s stock worth $2,838,000 after buying an additional 10,810 shares during the last quarter. Twin Capital Management Inc. raised its position in Bank of America Corporation by 2.6% during the 2nd quarter. Twin Capital Management Inc. now owns 978,400 shares of the financial services provider’s stock worth $23,736,000 after buying an additional 24,426 shares during the last quarter. Finally, Lincoln National Corp raised its position in Bank of America Corporation by 24.0% during the 2nd quarter. Lincoln National Corp now owns 36,639 shares of the financial services provider’s stock worth $889,000 after buying an additional 7,087 shares during the last quarter. Institutional investors own 61.58% of the company’s stock.

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In other Bank of America Corporation news, Director Frank P. Bramble sold 86,763 shares of Bank of America Corporation stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $24.16, for a total transaction of $2,096,194.08. Following the transaction, the director now owns 50,000 shares of the company’s stock, valued at approximately $1,208,000. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.18% of the company’s stock.

BAC has been the topic of a number of recent analyst reports. BidaskClub raised shares of Bank of America Corporation from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 23rd. Citigroup Inc. reaffirmed a “neutral” rating and set a $27.00 price target (up from $25.00) on shares of Bank of America Corporation in a research note on Monday, October 9th. Vetr cut shares of Bank of America Corporation from a “hold” rating to a “sell” rating and set a $25.08 price target on the stock. in a research note on Wednesday, October 4th. Zacks Investment Research cut shares of Bank of America Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Finally, Credit Suisse Group reaffirmed an “outperform” rating on shares of Bank of America Corporation in a research note on Tuesday, October 10th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have assigned a buy rating and three have given a strong buy rating to the stock. Bank of America Corporation presently has a consensus rating of “Buy” and an average target price of $25.47.

Bank of America Corporation (NYSE:BAC) opened at 27.60 on Tuesday. The stock’s 50 day moving average is $25.76 and its 200 day moving average is $24.25. The stock has a market capitalization of $290.25 billion, a price-to-earnings ratio of 15.80 and a beta of 1.25. Bank of America Corporation has a one year low of $16.28 and a one year high of $27.98.

Bank of America Corporation (NYSE:BAC) last released its earnings results on Friday, October 13th. The financial services provider reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.02. Bank of America Corporation had a return on equity of 8.33% and a net margin of 20.66%. The company had revenue of $22.08 billion for the quarter, compared to analysts’ expectations of $22.07 billion. During the same quarter in the previous year, the business posted $0.41 EPS. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities analysts forecast that Bank of America Corporation will post $1.82 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.48 annualized dividend and a yield of 1.74%. Bank of America Corporation’s dividend payout ratio (DPR) is presently 27.43%.

About Bank of America Corporation

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 Corporation (NYSE:BAC)

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