Security National Trust Co. boosted its stake in Bank of America Corp. (NYSE:BAC) by 0.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,519 shares of the financial services provider’s stock after buying an additional 99 shares during the period. Security National Trust Co.’s holdings in Bank of America Corp. were worth $206,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Dodge & Cox raised its stake in shares of Bank of America Corp. by 15.4% in the first quarter. Dodge & Cox now owns 215,803,933 shares of the financial services provider’s stock valued at $2,917,669,000 after buying an additional 28,729,070 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Bank of America Corp. by 1.5% in the first quarter. Geode Capital Management LLC now owns 87,569,260 shares of the financial services provider’s stock valued at $1,181,634,000 after buying an additional 1,269,999 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of Bank of America Corp. by 8.4% in the first quarter. TIAA CREF Investment Management LLC now owns 60,367,312 shares of the financial services provider’s stock valued at $816,166,000 after buying an additional 4,683,007 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Bank of America Corp. by 2.2% in the first quarter. Legal & General Group Plc now owns 48,567,933 shares of the financial services provider’s stock valued at $656,688,000 after buying an additional 1,066,593 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in shares of Bank of America Corp. by 16.8% in the first quarter. Canada Pension Plan Investment Board now owns 47,215,349 shares of the financial services provider’s stock valued at $638,352,000 after buying an additional 6,801,200 shares in the last quarter. Institutional investors and hedge funds own 60.86% of the company’s stock.

Shares of Bank of America Corp. (NYSE:BAC) traded down 1.15% on Friday, hitting $15.49. 90,926,246 shares of the stock traded hands. The stock has a market cap of $162.90 billion, a price-to-earnings ratio of 12.98 and a beta of 1.67. The stock has a 50 day moving average price of $15.24 and a 200-day moving average price of $14.21. Bank of America Corp. has a 52 week low of $10.99 and a 52 week high of $18.09.

Bank of America Corp. (NYSE:BAC) last issued its quarterly earnings data on Monday, July 18th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. The firm earned $20.60 million during the quarter, compared to analysts’ expectations of $20.41 billion. Bank of America Corp. had a net margin of 16.31% and a return on equity of 6.23%. The business’s revenue was down 7.2% on a year-over-year basis. During the same period last year, the company earned $0.45 earnings per share. On average, equities research analysts forecast that Bank of America Corp. will post $1.26 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, September 2nd will be issued a dividend of $0.075 per share. This is a boost from Bank of America Corp.’s previous quarterly dividend of $0.05. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Wednesday, August 31st. Bank of America Corp.’s dividend payout ratio (DPR) is currently 24.59%.

BAC has been the subject of several recent research reports. Raymond James Financial Inc. reiterated an “outperform” rating on shares of Bank of America Corp. in a report on Friday, June 3rd. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $15.00 price objective on shares of Bank of America Corp. in a report on Wednesday, July 20th. Deutsche Bank AG reiterated a “buy” rating on shares of Bank of America Corp. in a report on Saturday, June 4th. Jefferies Group reiterated a “buy” rating on shares of Bank of America Corp. in a report on Sunday, July 10th. Finally, Wells Fargo & Co. reiterated a “buy” rating on shares of Bank of America Corp. in a report on Saturday, July 9th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $25.04.

In other Bank of America Corp. news, Director Thomas D. Woods acquired 25,000 shares of Bank of America Corp. stock in a transaction dated Tuesday, August 2nd. The stock was purchased at an average cost of $14.13 per share, for a total transaction of $353,250.00. Following the completion of the acquisition, the director now directly owns 32,459 shares of the company’s stock, valued at $458,645.67. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.18% of the company’s stock.

Bank of America Corp. Company Profile

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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