Capital Investment Advisors LLC boosted its position in Bank of America Co. (NYSE:BAC – Get Rating) by 0.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 495,219 shares of the financial services provider’s stock after purchasing an additional 3,099 shares during the quarter. Capital Investment Advisors LLC’s holdings in Bank of America were worth $20,413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently bought and sold shares of BAC. New World Advisors LLC bought a new position in shares of Bank of America in the 3rd quarter worth $471,000. EagleClaw Capital Managment LLC increased its holdings in shares of Bank of America by 0.8% in the 3rd quarter. EagleClaw Capital Managment LLC now owns 92,730 shares of the financial services provider’s stock worth $3,934,000 after buying an additional 778 shares during the last quarter. Verition Fund Management LLC bought a new position in shares of Bank of America in the 3rd quarter worth $551,000. Summit Trail Advisors LLC increased its holdings in shares of Bank of America by 12.0% in the 3rd quarter. Summit Trail Advisors LLC now owns 31,958 shares of the financial services provider’s stock worth $1,357,000 after buying an additional 3,420 shares during the last quarter. Finally, Studio Investment Management LLC bought a new position in shares of Bank of America in the 3rd quarter worth $2,626,000. Institutional investors and hedge funds own 70.46% of the company’s stock.
Shares of BAC stock opened at $32.60 on Thursday. The company has a 50 day moving average price of $35.77 and a 200-day moving average price of $41.44. Bank of America Co. has a 52 week low of $30.86 and a 52 week high of $50.11. The firm has a market capitalization of $262.65 billion, a PE ratio of 9.31, a P/E/G ratio of 1.40 and a beta of 1.38. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.16.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 24th. Stockholders of record on Friday, June 3rd will be paid a $0.21 dividend. The ex-dividend date is Thursday, June 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.58%. Bank of America’s dividend payout ratio is presently 24.00%.
Several equities analysts recently commented on the stock. Oppenheimer reduced their target price on shares of Bank of America from $52.00 to $50.00 in a report on Tuesday, May 3rd. Robert W. Baird raised shares of Bank of America from an “underperform” rating to a “neutral” rating and set a $42.00 target price on the stock in a report on Tuesday, March 8th. StockNews.com assumed coverage on shares of Bank of America in a report on Thursday, March 31st. They set a “hold” rating on the stock. The Goldman Sachs Group reduced their target price on shares of Bank of America from $52.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, April 20th. Finally, BMO Capital Markets cut their price target on shares of Bank of America from $48.00 to $46.00 and set a “market perform” rating on the stock in a report on Tuesday, April 19th. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Bank of America currently has an average rating of “Moderate Buy” and a consensus target price of $50.10.
Bank of America Company Profile (Get Rating)
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. Its Consumer Banking segment offers traditional and money market savings accounts, certificates of deposit and IRAs, noninterest-and interest-bearing checking accounts, and investment accounts and products; and credit and debit cards, residential mortgages, and home equity loans, as well as direct and indirect loans, such as automotive, recreational vehicle, and consumer personal loans.
- Get a free copy of the StockNews.com research report on Bank of America (BAC)
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