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First National Trust Company acquires 7,749 shares of Bank of America Corporation (NYSE:BAC)

First National Trust Company acquires 7,749 shares of Bank of America Corporation (NYSE:BAC)

The most recent filing that the company has made with the Securities and Exchange Commission indicates that during the third quarter, First National Trust Co. increased its holdings in Bank of America Co. (NYSE: BAC). The total number of shares of the stock of the financial services provider that the fund owns has increased to 243,211 as a result of an increase of 7,749 shares that occurred over the most recent quarter. The most recent filing that First National Trust Co. made with the SEC revealed that the value of the company’s ownership stake in Bank of America was $7,345,000. The company provided this information.

Recent events have resulted in several other hedge funds reducing or increasing the size of their positions in the stock. The existing holdings of Legal & General Group Plc were bolstered by an increase of 2.9% in the number of Bank of America common stock shares during the second quarter. Legal & General Group Plc is now the owner of 52,475,574 shares of the company it serves as a financial services provider after purchasing an additional 1,493,089 shares during the most recent quarter. The price per share of the stock is currently $1,633,568,000. During the second quarter, Dodge & Cox increased the amount of Bank of America’s stock by 3.5%, bringing the total to 100%. Dodge & Cox now holds a total of 44,434,589 shares of the common stock of the financial services provider, which have a market value of $1,383,249,000 following the acquisition of 1,511,600 additional shares during the most recent fiscal quarter. These shares have a market value of $1,383,249,000. Charles Schwab Investment Management Inc. increased the proportion of Bank of America stock that is owned by 1.7% over the first three months of the year. Charles Schwab Investment Management Inc. now has a total of 36,940,776 shares of the financial services provider’s stock. These shares have a value of $1,522,699,000 thanks to the acquisition of an additional 603,512 shares during the most recent quarter. During the second quarter of the fiscal year, UBS Asset Management Americas Inc. increased the percentage of Bank of America stock it held in its portfolio by 8.7%.

UBS Asset Management Americas Inc. now has 31,464,323 shares of the financial services provider’s stock following the purchase of an additional 2,531,320 shares during the most recent quarter. The stock is currently valued at $979,484,000. And finally, during the period covered by this report, Clearbridge Investments LLC saw a growth of 6.1% in the size of its holdings in Bank of America shares. This was the final point. Clearbridge Investments LLC now has 29,933,227 shares held by the financial services provider. These shares are currently valued at $931,821,000 after purchasing an additional 1,713,789 shares during the most recent quarter. As a result of their ownership of the company’s common shares, institutional investors control 68.34% of the company’s voting power.

Various researchers and analysts in the relevant industry have recently published reports on BAC stock. In a research note published on January 3, Barclays announced that they had reduced their target price for shares of Bank of America from $51.00 to $48.00. Barclays has maintained its “overweight” rating on the stock despite this change. Citigroup raised its price target on Bank of America shares on Tuesday, moving it from $36.00 to $38.00. The announcement was made in a research note that was released on Tuesday. BMO Capital Markets announced in a research note made public on Tuesday, October 18, that they would be increasing their price objective on Bank of America shares from $41.00 to $42.00. The “buy” rating and price objective on shares of Bank of America that were previously set at $42.00 have been lowered to $40.00 by Goldman Sachs Group in a research note published on Tuesday, October 4. The target price has not changed since we set it. Piper Sandler lowered their price objective for Bank of America from $36.00 to $33.00 and downgraded the company from “neutral” to “underweight” in a research note published on Tuesday. Seven research analysts have provided the company with a recommendation to buy its stock, six research analysts have provided a

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