Trust Co of Kansas Has $467,000 Stock Position in Bank of America Co. (NYSE:BAC)

Trust Co of Kansas lessened its holdings in shares of Bank of America Co. (NYSE:BAC – Get Rating) by 24.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,476 shares of the financial services provider’s stock after selling 4,988 shares during the quarter. Bank of America accounts for approximately 0.3% of Trust Co of Kansas’ holdings, making the stock its 29th largest holding. Trust Co of Kansas’ holdings in Bank of America were worth $467,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its stake in shares of Bank of America by 60.0% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 103,645,596 shares of the financial services provider’s stock valued at $3,130,177,000 after purchasing an additional 38,870,780 shares during the period. Fisher Asset Management LLC raised its position in Bank of America by 1,356.6% in the 3rd quarter. Fisher Asset Management LLC now owns 20,390,322 shares of the financial services provider’s stock valued at $615,788,000 after buying an additional 18,990,473 shares during the last quarter. Snider Financial Group lifted its stake in Bank of America by 9,477.3% in the 1st quarter. Snider Financial Group now owns 14,448,357 shares of the financial services provider’s stock valued at $5,956,000 after acquiring an additional 14,297,496 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Bank of America by 3,474.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 11,658,881 shares of the financial services provider’s stock worth $480,579,000 after acquiring an additional 11,332,721 shares during the last quarter. Finally, Capital Research Global Investors bought a new position in shares of Bank of America during the 1st quarter worth approximately $395,481,000. 68.34% of the stock is owned by institutional investors and hedge funds.

Bank of America Price Performance

Bank of America stock opened at $28.49 on Thursday. The company has a market capitalization of $228.03 billion, a price-to-earnings ratio of 8.93, a PEG ratio of 1.28 and a beta of 1.40. The stock’s 50 day moving average is $34.25 and its 200-day moving average is $34.15. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 1.13. Bank of America Co. has a 12 month low of $27.68 and a 12 month high of $44.63.

Bank of America (NYSE:BAC – Get Rating) last posted its quarterly earnings data on Friday, January 13th. The financial services provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.09. The firm had revenue of $24.50 billion for the quarter, compared to analysts’ expectations of $24.17 billion. Bank of America had a return on equity of 11.41% and a net margin of 23.93%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.82 EPS. Equities research analysts expect that Bank of America Co. will post 3.38 EPS for the current year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 3rd will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, March 2nd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.09%. Bank of America’s payout ratio is presently 27.59%.

Insider Transactions at Bank of America

In related news, insider Matthew M. Koder sold 105,054 shares of the business’s stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of $34.27, for a total value of $3,600,200.58. Following the completion of the sale, the insider now directly owns 319,803 shares in the company, valued at $10,959,648.81. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider Matthew M. Koder sold 214,745 shares of the company’s stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $35.91, for a total transaction of $7,711,492.95. Following the completion of the sale, the insider now owns 214,747 shares of the company’s stock, valued at approximately $7,711,564.77. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Matthew M. Koder sold 105,054 shares of the stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of $34.27, for a total transaction of $3,600,200.58. Following the sale, the insider now owns 319,803 shares in the company, valued at approximately $10,959,648.81. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on BAC shares. StockNews.com started coverage on shares of Bank of America in a research report on Thursday. They issued a “hold” rating for the company. Oppenheimer raised their price target on Bank of America from $50.00 to $53.00 and gave the company an “outperform” rating in a research note on Thursday, February 2nd. Deutsche Bank Aktiengesellschaft cut Bank of America from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $45.00 to $36.00 in a research note on Friday, January 6th. Citigroup raised their target price on shares of Bank of America from $36.00 to $38.00 in a research note on Tuesday, January 17th. Finally, Morgan Stanley dropped their price target on shares of Bank of America from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 15th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Bank of America has a consensus rating of “Hold” and a consensus price target of $40.16.

Bank of America Profile

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Bank of America Corp. is a bank and financial holding company, which engages in the provision of banking and nonbank financial services. It operates through the following segments: Consumer Banking, Global Wealth and Investment Management, Global Banking, Global Markets, and All Other. The Consumer Banking segment offers credit, banking, and investment products and services to consumers and small businesses.