Old Mutual Global Investors UK Ltd. trimmed its holdings in Bank of America Corporation (NYSE:BAC) by 98.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 92,469 shares of the financial services provider’s stock after selling 7,259,588 shares during the quarter. Old Mutual Global Investors UK Ltd.’s holdings in Bank of America Corporation were worth $2,243,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. M Holdings Securities Inc. raised its position in shares of Bank of America Corporation by 72.9% in the first quarter. M Holdings Securities Inc. now owns 95,018 shares of the financial services provider’s stock worth $2,242,000 after acquiring an additional 40,069 shares during the period. Lbmc Investment Advisors LLC raised its position in shares of Bank of America Corporation by 0.3% in the second quarter. Lbmc Investment Advisors LLC now owns 16,851 shares of the financial services provider’s stock worth $409,000 after acquiring an additional 51 shares during the period. YHB Investment Advisors Inc. raised its position in shares of Bank of America Corporation by 17.2% in the second quarter. YHB Investment Advisors Inc. now owns 161,450 shares of the financial services provider’s stock worth $3,917,000 after acquiring an additional 23,729 shares during the period. Montag A & Associates Inc. raised its position in shares of Bank of America Corporation by 47.4% in the second quarter. Montag A & Associates Inc. now owns 385,764 shares of the financial services provider’s stock worth $9,359,000 after acquiring an additional 123,986 shares during the period. Finally, AQR Capital Management LLC raised its position in shares of Bank of America Corporation by 21.3% in the first quarter. AQR Capital Management LLC now owns 8,462,687 shares of the financial services provider’s stock worth $199,635,000 after acquiring an additional 1,483,772 shares during the period. 62.19% of the stock is currently owned by institutional investors.

Several research firms recently weighed in on BAC. UBS AG restated a “neutral” rating and set a $26.00 price target on shares of Bank of America Corporation in a research report on Friday, July 21st. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $30.00 price target (up previously from $29.00) on shares of Bank of America Corporation in a research report on Friday, July 21st. Instinet restated a “buy” rating and set a $27.00 price target on shares of Bank of America Corporation in a research report on Saturday, July 22nd. BidaskClub downgraded shares of Bank of America Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Finally, Wells Fargo & Company began coverage on shares of Bank of America Corporation in a report on Wednesday, August 9th. They issued an “outperform” rating and a $30.00 price objective for the company. Two analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-four have given a buy rating and three have given a strong buy rating to the company’s stock. Bank of America Corporation presently has a consensus rating of “Buy” and an average target price of $25.82.

Shares of Bank of America Corporation (NYSE BAC) opened at $26.62 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.91 and a quick ratio of 0.90. Bank of America Corporation has a twelve month low of $19.87 and a twelve month high of $27.98. The firm has a market cap of $279,120.00, a PE ratio of 14.99, a P/E/G ratio of 1.82 and a beta of 1.31.

Bank of America Corporation (NYSE:BAC) last announced its earnings results on Friday, October 13th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.02. The firm had revenue of $22.08 billion during the quarter, compared to analyst estimates of $22.07 billion. Bank of America Corporation had a net margin of 20.66% and a return on equity of 8.33%. Bank of America Corporation’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.41 EPS. analysts expect that Bank of America Corporation will post 1.8 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 1st will be given a $0.12 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.48 dividend on an annualized basis and a yield of 1.80%. Bank of America Corporation’s dividend payout ratio is presently 27.91%.

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Bank of America Corporation Company 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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