Standard Life Investments LTD raised its position in Bank of America Corp. (NYSE:BAC) by 0.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,910,734 shares of the financial services provider’s stock after buying an additional 1,905 shares during the period. Bank of America Corp. accounts for about 1.5% of Standard Life Investments LTD’s holdings, making the stock its 21st largest position. Standard Life Investments LTD owned approximately 0.24% of Bank of America Corp. worth $330,441,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Security National Trust Co. boosted its position in shares of Bank of America Corp. by 0.6% in the second quarter. Security National Trust Co. now owns 15,519 shares of the financial services provider’s stock worth $206,000 after buying an additional 99 shares during the last quarter. Ropes Wealth Advisors LLC boosted its position in shares of Bank of America Corp. by 1.1% in the first quarter. Ropes Wealth Advisors LLC now owns 13,259 shares of the financial services provider’s stock worth $179,000 after buying an additional 145 shares during the last quarter. Accredited Investors Inc. boosted its position in shares of Bank of America Corp. by 2.1% in the first quarter. Accredited Investors Inc. now owns 11,805 shares of the financial services provider’s stock worth $160,000 after buying an additional 243 shares during the last quarter. North American Management Corp boosted its position in shares of Bank of America Corp. by 1.3% in the second quarter. North American Management Corp now owns 21,015 shares of the financial services provider’s stock worth $279,000 after buying an additional 263 shares during the last quarter. Finally, Wagner Bowman Management Corp boosted its position in shares of Bank of America Corp. by 2.2% in the second quarter. Wagner Bowman Management Corp now owns 12,973 shares of the financial services provider’s stock worth $172,000 after buying an additional 277 shares during the last quarter. 60.68% of the stock is owned by institutional investors and hedge funds.

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

Shares of Bank of America Corp. (NYSE:BAC) traded up 1.09% on Tuesday, hitting $15.80. 98,501,076 shares of the stock were exchanged. Bank of America Corp. has a 52-week low of $10.99 and a 52-week high of $18.09. The company’s 50 day moving average is $15.58 and its 200-day moving average is $14.43. The stock has a market cap of $166.16 billion, a PE ratio of 13.24 and a beta of 1.50.

Bank of America Corp. (NYSE:BAC) last announced its quarterly earnings data on Monday, July 18th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.03. Bank of America Corp. had a net margin of 16.31% and a return on equity of 6.23%. The firm earned $20.60 million during the quarter, compared to analyst estimates of $20.41 billion. During the same quarter in the prior year, the firm posted $0.45 earnings per share. Bank of America Corp.’s quarterly revenue was down 7.2% on a year-over-year basis. Analysts predict that Bank of America Corp. will post $1.26 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Friday, September 2nd were issued a $0.075 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.90%. This is a positive change from Bank of America Corp.’s previous quarterly dividend of $0.05. Bank of America Corp.’s dividend payout ratio is currently 24.59%.

A number of brokerages have commented on BAC. Wells Fargo & Co. reissued a “buy” rating on shares of Bank of America Corp. in a research note on Saturday, July 9th. Royal Bank Of Canada reissued a “buy” rating on shares of Bank of America Corp. in a research note on Saturday, July 9th. Jefferies Group reissued a “buy” rating on shares of Bank of America Corp. in a research note on Sunday, July 10th. Vetr cut shares of Bank of America Corp. from a “strong-buy” rating to a “buy” rating and set a $14.20 price objective for the company. in a research note on Tuesday, June 28th. Finally, Deutsche Bank AG reissued a “buy” rating on shares of Bank of America Corp. in a research note on Wednesday, June 15th. Nine research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. Bank of America Corp. currently has an average rating of “Buy” and a consensus target price of $24.82.

In other news, Director Thomas D. Woods acquired 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was purchased at an average price of $14.13 per share, with a total value of $353,250.00. Following the completion of the acquisition, the director now owns 32,459 shares of the company’s stock, valued at approximately $458,645.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

About Bank of America Corp.

Bank of America Corporation is a bank holding and financial holding company. The Company is a financial institution, serving individual consumers, small- and middle-market businesses, institutional investors, corporations and governments with various banking, investing, asset management and other financial and risk management products and services.

5 Day Chart for NYSE:BAC

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