Bank of America Co. (NYSE:BAC) Stock Holdings Lifted by CVA Family Office LLC

CVA Family Office LLC raised its stake in Bank of America Co. (NYSE:BAC) by 21.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 8,932 shares of the financial services provider’s stock after acquiring an additional 1,557 shares during the period. CVA Family Office LLC’s holdings in Bank of America were worth $373,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Life Planning Partners Inc grew its position in Bank of America by 3,883.2% during the 4th quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 545,936 shares in the last quarter. Graney & King LLC purchased a new position in shares of Bank of America during the 4th quarter valued at $25,000. Fairway Wealth LLC purchased a new position in shares of Bank of America during the 4th quarter valued at $29,000. Vega Investment Solutions purchased a new position in shares of Bank of America during the 4th quarter valued at $30,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Bank of America during the 4th quarter valued at $31,000. Institutional investors own 70.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on BAC shares. Argus lowered their price target on shares of Bank of America from $53.00 to $47.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Barclays decreased their price objective on shares of Bank of America from $58.00 to $54.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. UBS Group upped their price objective on shares of Bank of America from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, April 16th. Robert W. Baird upgraded shares of Bank of America from a “neutral” rating to an “outperform” rating and upped their price target for the company from $45.00 to $50.00 in a report on Friday, March 7th. Finally, The Goldman Sachs Group upped their price target on shares of Bank of America from $46.00 to $52.00 and gave the company a “buy” rating in a report on Tuesday, June 10th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $47.69.

Bank of America Price Performance

Shares of NYSE:BAC opened at $44.04 on Friday. The firm has a 50 day moving average of $41.50 and a 200-day moving average of $43.39. The stock has a market capitalization of $331.67 billion, a PE ratio of 13.68, a PEG ratio of 1.21 and a beta of 1.30. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. Bank of America Co. has a 12 month low of $33.07 and a 12 month high of $48.08.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.10. The business had revenue of $27.37 billion for the quarter, compared to analyst estimates of $26.83 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. On average, equities research analysts predict that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend is Friday, June 6th. Bank of America’s dividend payout ratio is 30.95%.

Bank of America 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.