First Interstate Bank held its position in Bank of America Corp. (NYSE:BAC) during the second quarter, Holdings Channel reports. The fund owned 30,562 shares of the financial services provider’s stock at the end of the second quarter. First Interstate Bank’s holdings in Bank of America Corp. were worth $406,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. CrestPoint Capital Management LLC boosted its position in shares of Bank of America Corp. by 172.5% in the first quarter. CrestPoint Capital Management LLC now owns 37,600 shares of the financial services provider’s stock valued at $508,000 after buying an additional 23,800 shares in the last quarter. Iberiabank Corp boosted its position in shares of Bank of America Corp. by 4.0% in the first quarter. Iberiabank Corp now owns 86,080 shares of the financial services provider’s stock valued at $1,164,000 after buying an additional 3,283 shares in the last quarter. Capital Investment Advisors LLC boosted its position in shares of Bank of America Corp. by 3.2% in the first quarter. Capital Investment Advisors LLC now owns 347,464 shares of the financial services provider’s stock valued at $4,698,000 after buying an additional 10,823 shares in the last quarter. Burke & Herbert Bank & Trust Co. boosted its position in shares of Bank of America Corp. by 25.0% in the first quarter. Burke & Herbert Bank & Trust Co. now owns 52,782 shares of the financial services provider’s stock valued at $713,000 after buying an additional 10,568 shares in the last quarter. Finally, Berkshire Asset Management LLC PA boosted its position in shares of Bank of America Corp. by 16.6% in the first quarter. Berkshire Asset Management LLC PA now owns 172,712 shares of the financial services provider’s stock valued at $2,335,000 after buying an additional 24,584 shares in the last quarter. Hedge funds and other institutional investors own 60.86% of the company’s stock.

Bank of America Corp. (NYSE:BAC) traded down 0.1681% during trading on Tuesday, reaching $15.5638. 38,665,034 shares of the company’s stock traded hands. Bank of America Corp. has a one year low of $10.99 and a one year high of $18.09. The firm has a market cap of $163.68 billion, a price-to-earnings ratio of 13.0459 and a beta of 1.67. The company has a 50 day moving average of $15.36 and a 200 day moving average of $14.28.

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, topping the consensus estimate 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 return on equity of 6.23% and a net margin of 16.31%. Bank of America Corp.’s revenue was down 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.45 earnings per share. Equities research analysts predict that Bank of America Corp. will post $1.26 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Friday, September 2nd will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Wednesday, August 31st. This is a boost from Bank of America Corp.’s previous quarterly dividend of $0.05. This represents a $0.30 annualized dividend and a yield of 1.92%. Bank of America Corp.’s payout ratio is currently 24.59%.

A number of equities analysts have commented on the stock. Deutsche Bank AG reissued a “buy” rating on shares of Bank of America Corp. in a research note on Saturday, June 4th. 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. Finally, Vetr cut shares of Bank of America Corp. from a “strong-buy” rating to a “buy” rating and set a $14.20 price target for the company. in a research note on Tuesday, June 28th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-one have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $25.04.

In related news, Director Thomas D. Woods purchased 25,000 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The stock was bought at an average cost of $14.13 per share, with a total value of $353,250.00. Following the completion of the acquisition, the director now directly owns 32,459 shares in the company, valued at approximately $458,645.67. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate 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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