Alliance Wealth Management Group boosted its holdings in shares of Bank of America Corporation (NYSE:BAC) by 20.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,380 shares of the financial services provider’s stock after buying an additional 1,908 shares during the period. Alliance Wealth Management Group’s holdings in Bank of America Corporation were worth $275,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the stock. RFG Advisory Group LLC acquired a new position in Bank of America Corporation during the second quarter valued at $857,000. Point View Wealth Management Inc. increased its position in Bank of America Corporation by 2.8% in the 2nd quarter. Point View Wealth Management Inc. now owns 53,016 shares of the financial services provider’s stock worth $1,286,000 after purchasing an additional 1,442 shares during the last quarter. Aviva PLC increased its position in Bank of America Corporation by 1.5% in the 2nd quarter. Aviva PLC now owns 7,177,002 shares of the financial services provider’s stock worth $174,186,000 after purchasing an additional 104,708 shares during the last quarter. Victory Capital Management Inc. increased its position in Bank of America Corporation by 135.1% in the 2nd quarter. Victory Capital Management Inc. now owns 799,419 shares of the financial services provider’s stock worth $19,394,000 after purchasing an additional 459,365 shares during the last quarter. Finally, MAI Capital Management increased its position in Bank of America Corporation by 11.2% in the 2nd quarter. MAI Capital Management now owns 436,799 shares of the financial services provider’s stock worth $10,597,000 after purchasing an additional 43,844 shares during the last quarter. 61.58% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Frank P. Bramble sold 86,763 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $24.16, for a total value of $2,096,194.08. Following the completion of the sale, the director now directly owns 50,000 shares in the company, valued at $1,208,000. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.18% of the company’s stock.

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Bank of America Corporation (BAC) opened at 27.39 on Wednesday. Bank of America Corporation has a one year low of $16.28 and a one year high of $27.98. The stock has a 50 day moving average price of $25.88 and a 200-day moving average price of $24.28. The firm has a market capitalization of $288.05 billion, a PE ratio of 15.68 and a beta of 1.25.

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

The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 1st will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Thursday, November 30th. Bank of America Corporation’s dividend payout ratio (DPR) is currently 27.43%.

BAC has been the topic of several research reports. Vetr raised Bank of America Corporation from a “hold” rating to a “buy” rating and set a $26.59 target price on the stock in a research report on Monday, October 16th. BidaskClub raised Bank of America Corporation from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. CIBC reaffirmed an “outperform” rating on shares of Bank of America Corporation in a research report on Tuesday, July 11th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Bank of America Corporation in a research report on Tuesday, July 4th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $28.00 target price on shares of Bank of America Corporation in a research report on Friday, August 11th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-three have given a buy rating and three have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $25.47.

Bank of America Corporation 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.

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

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