The Independent Portfolio Consultants Inc. Has $1.81 Million Stake in Bank of America Corp (BAC)

The Independent Portfolio Consultants Inc. Has $1.81 Million Stake in Bank of America Corp (BAC)

Several other hedge funds also recently bought and sold shares of the company. Integrated Investment Consultants LLC increased its position in Bank of America Corp by 12.9% in the first quarter. Integrated Investment Consultants LLC now owns 4,368 shares of the financial services provider’s stock worth $103,000 after buying an additional 500 shares in the last quarter. Gradient Investments LLC increased its position in Bank of America Corp by 18.2% in the first quarter. Gradient Investments LLC now owns 4,542 shares of the financial services provider’s stock worth $107,000 after buying an additional 700 shares in the last quarter. Empirical Finance LLC purchased a new position in Bank of America Corp during the fourth quarter worth approximately $103,000. Tortoise Investment Management LLC increased its position in Bank of America Corp by 27.0% in the fourth quarter. Tortoise Investment Management LLC now owns 4,700 shares of the financial services provider’s stock worth $104,000 after buying an additional 1,000 shares in the last quarter. Finally, Pinnacle Bank purchased a new position in Bank of America Corp during the first quarter worth approximately $122,000. 63.95% of the stock is owned by institutional investors and hedge funds.

Independent Portfolio Consultants Inc. cut its position in Bank of America Corp (NYSE:BAC) by 44.9% during the first quarter, Holdings Channel reports. The firm owned 76,811 shares of the financial services provider’s stock after selling 62,642 shares during the period. Bank of America Corp comprises approximately 0.6% of Independent Portfolio Consultants Inc.’s holdings, making the stock its 20th largest position. Independent Portfolio Consultants Inc.’s holdings in Bank of America Corp were worth $1,812,000 as of its most recent SEC filing.

Shares of Bank of America Corp (NYSE:BAC) opened at 22.45 on Monday. The firm has a 50-day moving average price of $23.36 and a 200-day moving average price of $23.12. Bank of America Corp has a 52 week low of $12.05 and a 52 week high of $25.80. The firm has a market cap of $236.09 billion, a PE ratio of 13.82 and a beta of 1.47.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 2nd will be issued a dividend of $0.075 per share. The ex-dividend date is Wednesday, May 31st. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.34%. Bank of America Corp’s dividend payout ratio (DPR) is 21.74%.

A number of equities analysts recently commented on the company. Nomura restated a “buy” rating on shares of Bank of America Corp in a report on Wednesday, April 19th. Macquarie upgraded Bank of America Corp from a “neutral” rating to an “outperform” rating and set a $28.00 price objective on the stock in a report on Thursday, February 16th. Compass Point downgraded Bank of America Corp from a “neutral” rating to a “sell” rating and set a $20.00 price objective on the stock. in a report on Thursday, March 16th. Barclays PLC restated an “equal weight” rating and issued a $28.00 price objective (up previously from $26.00) on shares of Bank of America Corp in a report on Saturday, April 22nd. Finally, BMO Capital Markets restated a “hold” rating and issued a $21.00 price objective on shares of Bank of America Corp in a report on Tuesday, April 11th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Bank of America Corp has an average rating of “Buy” and an average price target of $22.73.

In other news, Director Thomas D. Woods bought 25,000 shares of Bank of America Corp stock in a transaction on Thursday, April 27th. The shares were purchased at an average price of $23.81 per share, for a total transaction of $595,250.00. Following the acquisition, the director now owns 40,830 shares of the company’s stock, valued at $972,162.30. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.18% of the stock is currently owned by corporate insiders. About Bank of America Corp

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “BAC”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

Want to see what other hedge funds are holding BAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of America Corp (NYSE:BAC). Receive News & Ratings for Bank of America Corp Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Bank of America Corp and related companies with MarketBeat.com’s FREE daily email newsletter.

Want to see what other hedge funds are holding BAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of America Corp (NYSE:BAC).

Related posts

Leave a Comment