BlackRock Fund Advisors recently announced the acquisition of new stake in Bank Of America Corp. (NYSE:BAC). The institutional investor has increased its shareholding in the Financial company by 1.16% to 309.78 million shares with purchase of 3.54 million shares. This fresh investment now brings its stake to 3.91% valued currently at $10.43 billion. In addition, Geode Capital Management LLC raised its holdings by 2.66 million to 129.89 million shares. And Norges Bank Investment Management has lifted its position by 1.36% or 1.39 million shares – to 103.76 million shares.
Currently, there are 7.91B common shares owned by the public and among those 7.90B shares have been available to trade.
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Insiders at the company have transacted a total of 207 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 103 of these insider trades were purchases, accounting for 3,133,533 shares. Insider sales of the common stock occurred on 104 occasions, with total insider shares sold totaling 2,160,350 shares.
The top 3 mutual fund holders in Bank Of America Corp. are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Government Pension Fund – Global. Vanguard Total Stock Market ETF owns 211.03 million shares of the company’s stock, all valued at over $7.11 billion. The company sold -0.68 million shares recently to bring their total holdings to about 2.67% of the shares outstanding. Vanguard 500 Index Fund sold -0.37 million shares to see its total holdings shrink to 168.13 million shares valued at over $5.66 billion and representing 2.13% of the shares outstanding. Government Pension Fund – Global bought 15.22 million shares to bring its total holdings to over 102.07 million shares at a value of $3.44 billion. Government Pension Fund – Global now owns shares totaling to 1.29% of the shares outstanding.
However, the script later moved the day high at 33.67, up 0.12%. The company’s stock has a 5-day price change of 3.76% and 30.84% over the past three months. BAC shares are trading -0.71% year to date (YTD), with the 12-month market performance down to -4.13% lower. It has a 12-month low price of $24.96 and touched a high of $37.00 over the same period. BAC has an average intraday trading volume of 44.05 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.70%, 4.79%, and 13.52% respectively.
Institutional ownership of Bank Of America Corp. (NYSE: BAC) shares accounts for 70.88% of the company’s 7.91B shares outstanding. Mutual fund holders own 32.16%, while other institutional holders and individual stakeholders account for 38.83% and 13.84% respectively.
It has a market capitalization of $264.56B and a beta (3y monthly) value of 1.40. The stock’s trailing 12-month PE ratio is 10.88, while the earnings-per-share (ttm) stands at $3.07. The company has a PEG of 0.45 and the debt-to-equity ratio at 2.12. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.53% over the week and 1.79% over the month.
Analysts forecast that Bank Of America Corp. (BAC) will achieve an EPS of $BTC for the current quarter, $98.97 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $Bank of America Corporation while analysts give the company a high EPS estimate of $Booz Allen Hamilton Holding Cor. Comparatively, EPS for the current quarter was $Lithium Americas Corp. a year ago. Earnings per share for the fiscal year are expected to increase by 3.11%, and 8.74% over the next financial year. EPS should grow at an annualized rate of 24.37% over the next five years, compared to 3.38% over the past 5-year period.
