Modera Wealth Management LLC boosted its holdings in shares of Bank of America Corporation (NYSE:BAC) by 2.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 53,458 shares of the financial services provider’s stock after acquiring an additional 1,427 shares during the quarter. Modera Wealth Management LLC’s holdings in Bank of America Corporation were worth $1,297,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in BAC. Tarbox Family Office Inc. lifted its holdings in shares of Bank of America Corporation by 0.4% during the 2nd quarter. Tarbox Family Office Inc. now owns 4,809 shares of the financial services provider’s stock valued at $117,000 after buying an additional 21 shares during the last quarter. Capital Management Corp VA lifted its holdings in shares of Bank of America Corporation by 0.3% during the 2nd quarter. Capital Management Corp VA now owns 10,385 shares of the financial services provider’s stock valued at $252,000 after buying an additional 33 shares during the last quarter. Gateway Advisory LLC lifted its holdings in shares of Bank of America Corporation by 0.4% during the 2nd quarter. Gateway Advisory LLC now owns 10,053 shares of the financial services provider’s stock valued at $244,000 after buying an additional 45 shares during the last quarter. Arbor Investment Advisors LLC lifted its holdings in shares of Bank of America Corporation by 0.3% during the 2nd quarter. Arbor Investment Advisors LLC now owns 14,328 shares of the financial services provider’s stock valued at $348,000 after buying an additional 46 shares during the last quarter. Finally, Lbmc Investment Advisors LLC lifted its holdings in shares of Bank of America Corporation by 0.3% during the 2nd quarter. Lbmc Investment Advisors LLC now owns 16,851 shares of the financial services provider’s stock valued at $409,000 after buying an additional 51 shares during the last quarter. Hedge funds and other institutional investors own 62.04% of the company’s stock.

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Shares of Bank of America Corporation (BAC) opened at $26.74 on Tuesday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.91 and a quick ratio of 0.90. The company has a market capitalization of $279,020.00, a price-to-earnings ratio of 15.21, a P/E/G ratio of 1.84 and a beta of 1.31. Bank of America Corporation has a one year low of $20.01 and a one year high of $27.98.

Bank of America Corporation (NYSE:BAC) last announced its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.02. The business had revenue of $22.08 billion for the quarter, compared to analyst estimates of $22.07 billion. Bank of America Corporation had a return on equity of 8.33% and a net margin of 20.66%. Bank of America Corporation’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.41 EPS. equities analysts forecast that Bank of America Corporation will post 1.8 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Thursday, November 30th. Bank of America Corporation’s dividend payout ratio is currently 27.91%.

Several equities research analysts have recently issued reports on the company. BidaskClub upgraded Bank of America Corporation from a “sell” rating to a “hold” rating in a report on Friday, September 22nd. BMO Capital Markets reiterated a “market perform” rating and set a $29.00 price target (up from $27.00) on shares of Bank of America Corporation in a report on Monday, October 16th. UBS AG set a $27.00 price target on Bank of America Corporation and gave the company a “hold” rating in a report on Monday, October 16th. Robert W. Baird reiterated a “hold” rating and set a $24.00 price target on shares of Bank of America Corporation in a report on Sunday, October 1st. Finally, Wells Fargo & Company assumed coverage on Bank of America Corporation in a report on Wednesday, August 9th. They set an “outperform” rating and a $30.00 price target for the company. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-four have assigned a buy rating and three have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $25.82.

Bank of America Corporation Profile

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

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