Moody Lynn & Lieberson LLC Has $19.41 Million Stake in Bank of America Corporation (BAC)

Moody Lynn & Lieberson LLC lowered its stake in shares of Bank of America Corporation (NYSE:BAC) by 10.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 799,935 shares of the financial services provider’s stock after selling 93,156 shares during the period. Bank of America Corporation comprises 2.5% of Moody Lynn & Lieberson LLC’s portfolio, making the stock its 5th largest holding. Moody Lynn & Lieberson LLC’s holdings in Bank of America Corporation were worth $19,406,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Tarbox Family Office Inc. lifted its holdings in shares of Bank of America Corporation by 0.4% in the second quarter. Tarbox Family Office Inc. now owns 4,809 shares of the financial services provider’s stock valued at $117,000 after purchasing an additional 21 shares in the last quarter. Capital Management Corp VA raised its position in shares of Bank of America Corporation by 0.3% in the first quarter. Capital Management Corp VA now owns 10,352 shares of the financial services provider’s stock valued at $244,000 after buying an additional 33 shares during the last quarter. Welch Group LLC raised its position in shares of Bank of America Corporation by 0.4% in the first quarter. Welch Group LLC now owns 10,035 shares of the financial services provider’s stock valued at $237,000 after buying an additional 42 shares during the last quarter. Arbor Investment Advisors LLC raised its position in shares of Bank of America Corporation by 0.3% in the second quarter. Arbor Investment Advisors LLC now owns 14,328 shares of the financial services provider’s stock valued at $348,000 after buying an additional 46 shares during the last quarter. Finally, Tiemann Investment Advisors LLC raised its position in shares of Bank of America Corporation by 0.3% in the first quarter. Tiemann Investment Advisors LLC now owns 19,903 shares of the financial services provider’s stock valued at $470,000 after buying an additional 52 shares during the last quarter. 61.66% of the stock is currently owned by hedge funds and other institutional investors.

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Several equities analysts recently commented on the stock. BidaskClub raised shares of 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. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating on shares of Bank of America Corporation in a research report on Tuesday, July 11th. Buckingham Research reaffirmed a “buy” rating and set a $30.00 price target (up previously from $27.00) on shares of Bank of America Corporation in a research report on Monday, July 10th. Finally, Jefferies Group LLC reaffirmed a “buy” rating on shares of Bank of America Corporation in a research report on Friday, July 7th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $24.41.

In other Bank of America Corporation news, Director Frank P. Bramble sold 86,763 shares of the business’s 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 completion of the sale, the director now directly owns 50,000 shares of the company’s stock, valued at approximately $1,208,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.18% of the company’s stock.

Bank of America Corporation (BAC) opened at 24.38 on Friday. The stock’s 50 day moving average is $24.00 and its 200 day moving average is $23.82. Bank of America Corporation has a 52-week low of $14.81 and a 52-week high of $25.80. The company has a market cap of $256.39 billion, a price-to-earnings ratio of 14.52 and a beta of 1.26.

Bank of America Corporation (NYSE:BAC) last announced its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.03. The firm had revenue of $22.80 billion during the quarter, compared to analysts’ expectations of $21.84 billion. Bank of America Corporation had a return on equity of 8.11% and a net margin of 20.28%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.41 EPS. Equities research analysts forecast that Bank of America Corporation will post $1.81 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be issued a dividend of $0.12 per share. This is a boost from Bank of America Corporation’s previous quarterly dividend of $0.08. This represents a $0.48 annualized dividend and a yield of 1.97%. The ex-dividend date is Wednesday, August 30th. Bank of America Corporation’s payout ratio is currently 28.57%.

Bank of America Corporation announced that its Board of Directors has authorized a stock buyback program on Wednesday, June 28th that permits the company to buyback $12.00 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 4.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

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.

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

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