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Unusual put option trade at Bank of America (BAC) worth $540.01K

On March 22, 2023 at 10:12:24 a.m. ET, an unusually large $540,01,000 block of Bank of America (BAC) Put contracts was purchased, with a strike price of $35.00/share, expiring in 303 days (January 19, 2024). Fintel tracks all large option trades, and the premium spent on this trade was 1.63 sigma above the average, placing it in the 94.53 percentile of all recent large options trades made in BAC options. .

This trade was first detected on Fintel’s real-time unusual options trades tool, where unusual options trades are highlighted.

Analyst price forecast suggests 45.54% upside

As of March 22, 2023, the one-year average price target for Bank of America was $41.61. The predictions range from a low of $33.33 to a high of $55.65. The average price target represents a 45.54% increase from its last reported closing price of $28.59.

Check out our ranking of companies with the biggest upward price target.

Bank of America’s projected annual revenue is $104,670 million, an increase of 13.27%. Expected non-GAAP annual EPS is $3.72.

What is fund sentiment?

There are 4010 funds or institutions reporting positions in Bank of America. This is an increase of 115 owner(s) or 2.95% over the last quarter. Average portfolio weight of all funds dedicated to the BAC is 0.75%, a decrease of 2.52%. The total number of shares held by institutions has increased over the past three months by 1.12% to 6,341,799,000 shares. BAC’s put/call ratio is 0.99, indicating a bullish outlook.

What do major shareholders do?

Berkshire Hathaway owns 1,010,101,000 shares representing 12.63% ownership of the company. No change in the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares owns 207,270,000 shares representing 2.59% ownership of the company. In its previous filing, the company stated that it holds 203,766,000 shares, representing
a raise
of 1.69%. The company


its portfolio allocation in BAC by 3.02% over the last quarter.

VFINX – Vanguard 500 Index Fund Investor Shares owns 161,347,000 shares representing 2.02% ownership of the company. In its previous filing, the company stated that it holds 158,472,000 shares, representing
a raise
1.78%. The company


its portfolio allocation in BAC by 2.87% over the last quarter.

Jpmorgan Chase & holds 141,761,000 shares representing 1.77% ownership of the company. No change in the last quarter.

Price T Rowe Associates owns 127,178,000 shares representing 1.59% ownership of the company. In its previous filing, the company said it held 103,646,000 shares, representing
a raise
of 18.50%. The company


its BAC portfolio allocation of 32.13% in the last quarter.

Bank of America declares $0.22 dividend

On February 1, 2023, the company declared a regular quarterly dividend of $0.22 per share ($0.88 annualized). Shareholders of record as of March 3, 2023 will receive payment on March 31, 2023. Previously, the company paid $0.22 per share.

At the current share price of $28.59/share, the dividend yield of the stock is 3.08%. Looking back five years and taking a sample each week, the average dividend yield was 2.27%, the low 1.54% and the high 3.98%. The standard deviation of returns is 0.44 (n=237).

The current dividend yield is 1.81 standard deviations above the historical average.

Additionally, the company’s dividend payout ratio is 0.26. The payout ratio tells us how much of a company’s income is paid out as dividends. A payout ratio of one (1.0) means that 100% of the company’s income is paid out as dividends. A payout ratio above one means the company is dipping into its savings to maintain its dividend, which is not a healthy situation. Companies with little growth prospects should pay most of their income in the form of dividends, which generally means a payout ratio between 0.5 and 1.0. Companies with good growth prospects should retain part of their profits in order to invest in these growth prospects, which translates into a payout ratio of zero to 0.5.

The company’s 3-year dividend growth rate is 0.22%, demonstrating that it has increased its dividend over time.

General information about the Bank of America
(This description is provided by the company.)

Bank of America is one of the world’s leading financial institutions, serving individuals, small and medium-sized businesses, and large corporations with a full range of banking, investment, asset management, and banking products and services. other financial and risk management products and services. The company offers unparalleled convenience in the United States, serving approximately 66 million consumer and small business customers with approximately 4,300 retail financial centers, including approximately 2,900 lending centers, 2,500 financial centers with a financial solutions advisor from investment for consumers and about 2,300 business centers; approximately 17,000 ATMs; and award-winning digital banking services with approximately 39 million active users, including approximately 31 million mobile users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving businesses, governments, institutions and individuals worldwide. whole world. Bank of America provides industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves customers through operations across the United States, its territories and approximately 35 countries. Bank of America Corporation (NYSE: BAC) shares are listed on the New York Stock Exchange.

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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