V Wealth Management LLC Raises Position in Bank of America Corporation (BAC)

V Wealth Management LLC raised its stake in shares of Bank of America Corporation (NYSE:BAC) by 43.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 85,199 shares of the financial services provider’s stock after buying an additional 25,693 shares during the period. Bank of America Corporation makes up 1.2% of V Wealth Management LLC’s portfolio, making the stock its 21st largest position. V Wealth Management LLC’s holdings in Bank of America Corporation were worth $2,010,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Glassman Wealth Services increased its stake in Bank of America Corporation by 0.7% in the fourth quarter. Glassman Wealth Services now owns 14,295 shares of the financial services provider’s stock valued at $316,000 after buying an additional 100 shares during the period. Horrell Capital Management Inc. increased its position in shares of Bank of America Corporation by 0.3% in the first quarter. Horrell Capital Management Inc. now owns 37,950 shares of the financial services provider’s stock worth $895,000 after buying an additional 100 shares in the last quarter. McQueen Ball & Associates Inc. increased its position in shares of Bank of America Corporation by 0.6% in the first quarter. McQueen Ball & Associates Inc. now owns 28,381 shares of the financial services provider’s stock worth $670,000 after buying an additional 158 shares in the last quarter. LVM Capital Management Ltd. MI increased its position in shares of Bank of America Corporation by 1.9% in the first quarter. LVM Capital Management Ltd. MI now owns 10,467 shares of the financial services provider’s stock worth $247,000 after buying an additional 194 shares in the last quarter. Finally, Koshinski Asset Management Inc. increased its position in shares of Bank of America Corporation by 2.4% in the first quarter. Koshinski Asset Management Inc. now owns 10,805 shares of the financial services provider’s stock worth $255,000 after buying an additional 258 shares in the last quarter. Hedge funds and other institutional investors own 65.84% of the company’s stock.

Institutional Ownership by Quarter for Bank of America Corporation (NYSE:BAC)

Bank of America Corporation (NYSE:BAC) traded up 2.05% on Monday, hitting $23.91. The company had a trading volume of 58,570,966 shares. The company has a market capitalization of $251.45 billion, a P/E ratio of 14.71 and a beta of 1.32. The stock’s 50-day moving average price is $23.35 and its 200 day moving average price is $23.32. Bank of America Corporation has a one year low of $12.05 and a one year high of $25.80.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 2nd will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend is Wednesday, May 31st. Bank of America Corporation’s dividend payout ratio (DPR) is presently 18.99%.

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Several equities research analysts have issued reports on BAC shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Bank of America Corporation in a research note on Thursday, April 6th. Vetr cut shares of Bank of America Corporation from a “strong-buy” rating to a “buy” rating and set a $26.62 price target on the stock. in a research note on Thursday, March 30th. Vining Sparks raised shares of Bank of America Corporation to a “strong-buy” rating and set a $28.00 target price on the stock in a research report on Wednesday, April 19th. Nomura reissued a “buy” rating on shares of Bank of America Corporation in a research report on Wednesday, April 19th. Finally, Zacks Investment Research upgraded shares of Bank of America Corporation from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research report on Tuesday, March 21st. One analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $22.81.

In other Bank of America Corporation news, Director Thomas D. Woods bought 25,000 shares of Bank of America Corporation stock in a transaction dated Thursday, April 27th. The stock was bought at an average cost of $23.81 per share, with a total value of $595,250.00. Following the completion of the acquisition, the director now directly owns 40,830 shares in the company, valued at approximately $972,162.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.18% of the company’s stock.

About Bank of America Corporation

Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers and others with a range of banking, investing, asset management and other financial and risk management products and services. The Company, through its banking and various non-bank subsidiaries, throughout the United States and in international markets, provides a range of banking and non-bank financial services and products through four business segments: Consumer Banking, which comprises Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S.

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