Dubuque Bank & Trust Co. reduced its position in Bank of America Corp (NYSE:BAC) by 22.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,601 shares of the financial services provider’s stock after selling 2,773 shares during the quarter. Dubuque Bank & Trust Co.’s holdings in Bank of America were worth $288,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Abbrea Capital LLC boosted its stake in shares of Bank of America by 2.6% in the 4th quarter. Abbrea Capital LLC now owns 61,950 shares of the financial services provider’s stock valued at $1,829,000 after buying an additional 1,566 shares during the period. Brinker Capital Inc. boosted its stake in shares of Bank of America by 3.5% in the 1st quarter. Brinker Capital Inc. now owns 48,885 shares of the financial services provider’s stock valued at $1,466,000 after buying an additional 1,653 shares during the period. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Bank of America by 4.9% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 35,372 shares of the financial services provider’s stock valued at $1,044,000 after buying an additional 1,660 shares during the period. Proficio Capital Partners LLC lifted its stake in Bank of America by 15.9% during the fourth quarter. Proficio Capital Partners LLC now owns 12,126 shares of the financial services provider’s stock worth $358,000 after purchasing an additional 1,667 shares during the last quarter. Finally, Wetherby Asset Management Inc. lifted its stake in Bank of America by 1.1% during the fourth quarter. Wetherby Asset Management Inc. now owns 151,271 shares of the financial services provider’s stock worth $4,465,000 after purchasing an additional 1,694 shares during the last quarter. 66.94% of the stock is owned by institutional investors.
Several equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods restated a “buy” rating and set a $35.00 target price on shares of Bank of America in a research note on Thursday, April 5th. Vining Sparks assumed coverage on Bank of America in a research note on Monday, April 16th. They set a “buy” rating and a $35.00 target price for the company. Vetr upgraded Bank of America from a “buy” rating to a “strong-buy” rating and set a $34.96 target price for the company in a research note on Friday, March 23rd. Credit Suisse Group boosted their target price on Bank of America from $35.00 to $36.00 and gave the stock an “outperform” rating in a research note on Friday, March 16th. Finally, Citigroup boosted their target price on Bank of America from $32.00 to $34.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 24th. Nine analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $32.13.
Bank of America opened at $28.99 on Friday, according to Marketbeat. The company has a market cap of $300.04 billion, a price-to-earnings ratio of 15.84, a PEG ratio of 1.45 and a beta of 1.34. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96. Bank of America Corp has a 52 week low of $22.73 and a 52 week high of $33.05.
Bank of America (NYSE:BAC) last released its earnings results on Monday, April 16th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.03. The business had revenue of $23.10 billion for the quarter, compared to analyst estimates of $23.04 billion. Bank of America had a return on equity of 9.40% and a net margin of 19.65%. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 earnings per share. equities analysts predict that Bank of America Corp will post 2.53 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 1st will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date is Thursday, May 31st. Bank of America’s payout ratio is currently 26.23%.
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 through four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.
Receive News & Ratings for Bank of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of America and related companies with MarketBeat.com's FREE daily email newsletter.