First Financial Corp IN Has $413,000 Stock Holdings in Bank of America Co. (NYSE:BAC)

First Financial Corp IN lowered its holdings in shares of Bank of America Co. (NYSE:BAC) by 12.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,906 shares of the financial services provider’s stock after selling 1,620 shares during the quarter. First Financial Corp IN’s holdings in Bank of America were worth $413,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Fortis Group Advisors LLC acquired a new stake in shares of Bank of America in the third quarter worth about $25,000. Livelsberger Financial Advisory acquired a new stake in Bank of America in the 4th quarter worth approximately $28,000. Criterion Capital Advisors LLC bought a new stake in Bank of America during the fourth quarter worth approximately $32,000. Northwest Investment Counselors LLC acquired a new position in Bank of America during the first quarter valued at approximately $33,000. Finally, Mark Sheptoff Financial Planning LLC raised its position in shares of Bank of America by 431.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 1,062 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 862 shares during the period. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Price Performance

Shares of BAC traded down $0.83 during mid-day trading on Wednesday, reaching $38.55. The company had a trading volume of 23,006,906 shares, compared to its average volume of 38,763,258. The company’s 50-day moving average is $38.71 and its 200-day moving average is $35.95. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.79 and a quick ratio of 0.79. The company has a market capitalization of $301.48 billion, a P/E ratio of 13.37, a P/E/G ratio of 1.50 and a beta of 1.36. Bank of America Co. has a twelve month low of $24.96 and a twelve month high of $40.34.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. Bank of America had a return on equity of 10.88% and a net margin of 13.94%. The company had revenue of $25.82 billion during the quarter, compared to analysts’ expectations of $25.49 billion. During the same period last year, the business earned $0.94 earnings per share. The business’s revenue was down 1.7% on a year-over-year basis. On average, equities analysts anticipate that Bank of America Co. will post 3.22 EPS for the current year.

Bank of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.24 per share. The ex-dividend date is Friday, June 7th. This represents a $0.96 annualized dividend and a yield of 2.49%. Bank of America’s dividend payout ratio is 33.22%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on BAC shares. UBS Group reiterated a “neutral” rating and issued a $40.00 target price (up from $39.00) on shares of Bank of America in a research note on Thursday, April 4th. Oppenheimer boosted their price objective on Bank of America from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 30th. Wolfe Research raised Bank of America from a “peer perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a report on Friday, April 19th. StockNews.com cut Bank of America from a “hold” rating to a “sell” rating in a research report on Monday, May 20th. Finally, Jefferies Financial Group upped their target price on shares of Bank of America from $36.00 to $39.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $39.79.

Bank of America Company Profile

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.