Coldstream Capital Management Inc. Raises Holdings in Bank of America Co. (NYSE:BAC)

Coldstream Capital Management Inc. lifted its position in Bank of America Co. (NYSE:BAC - Free Report) by 10.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,286 shares of the financial services provider's stock after acquiring an additional 11,075 shares during the quarter. Coldstream Capital Management Inc.'s holdings in Bank of America were worth $4,563,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in BAC. Fairway Wealth LLC purchased a new position in Bank of America in the second quarter worth $27,000. POM Investment Strategies LLC grew its position in Bank of America by 839.0% during the second quarter. POM Investment Strategies LLC now owns 723 shares of the financial services provider's stock valued at $29,000 after buying an additional 646 shares during the period. Kennebec Savings Bank purchased a new stake in Bank of America during the third quarter worth about $29,000. Christopher J. Hasenberg Inc raised its position in Bank of America by 525.9% in the third quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider's stock worth $40,000 after acquiring an additional 852 shares during the period. Finally, TruNorth Capital Management LLC boosted its stake in Bank of America by 740.7% in the second quarter. TruNorth Capital Management LLC now owns 1,135 shares of the financial services provider's stock valued at $45,000 after acquiring an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company's stock.

Insider Buying and Selling at Bank of America

In other Bank of America news, major shareholder Berkshire Hathaway Inc sold 11,422,560 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $40.78, for a total transaction of $465,811,996.80. Following the transaction, the insider now directly owns 835,908,435 shares in the company, valued at $34,088,345,979.30. This trade represents a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 55,223,897 shares of company stock worth $2,232,505,985 over the last 90 days. Corporate insiders own 0.29% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. StockNews.com raised shares of Bank of America from a "sell" rating to a "hold" rating in a report on Wednesday, October 16th. Oppenheimer upped their price target on Bank of America from $50.00 to $56.00 and gave the company an "outperform" rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised Bank of America from a "hold" rating to a "buy" rating and set a $45.00 price objective for the company in a report on Tuesday, September 3rd. Morgan Stanley lowered shares of Bank of America from an "overweight" rating to an "equal weight" rating and increased their target price for the stock from $48.00 to $55.00 in a research report on Monday. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Bank of America from $50.00 to $57.00 and gave the company an "outperform" rating in a research report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $45.92.

Bank of America Price Performance

Shares of NYSE:BAC traded up $0.31 on Wednesday, hitting $46.06. The company's stock had a trading volume of 36,787,279 shares, compared to its average volume of 38,303,875. The company has a market capitalization of $353.41 billion, a PE ratio of 16.59, a PEG ratio of 1.58 and a beta of 1.33. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.80 and a quick ratio of 0.80. The company has a 50-day simple moving average of $44.00 and a 200 day simple moving average of $41.37. Bank of America Co. has a 1 year low of $30.45 and a 1 year high of $48.08.

Bank of America (NYSE:BAC - Get Free Report) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $0.81 earnings per share for the quarter, beating analysts' consensus estimates of $0.78 by $0.03. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. The business had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.25 billion. During the same period last year, the firm posted $0.90 earnings per share. Bank of America's quarterly revenue was up .4% on a year-over-year basis. Sell-side analysts forecast that Bank of America Co. will post 3.27 EPS for the current fiscal year.

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 6th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.04 dividend on an annualized basis and a yield of 2.26%. Bank of America's dividend payout ratio is presently 37.82%.

About Bank of America

Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. It operates in four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.