Vantage Investment Advisors LLC lifted its holdings in shares of Bank of America Corporation (NYSE:BAC) by 5.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 140,738 shares of the financial services provider’s stock after acquiring an additional 7,493 shares during the period. Vantage Investment Advisors LLC’s holdings in Bank of America Corporation were worth $3,414,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Northwest Investment Counselors LLC acquired a new stake in shares of Bank of America Corporation during the 2nd quarter worth about $100,000. Armbruster Capital Management Inc. grew its stake in Bank of America Corporation by 10.8% during the 1st quarter. Armbruster Capital Management Inc. now owns 4,323 shares of the financial services provider’s stock worth $102,000 after buying an additional 423 shares during the last quarter. Chicago Partners Investment Group LLC grew its stake in Bank of America Corporation by 11.0% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 4,531 shares of the financial services provider’s stock worth $103,000 after buying an additional 450 shares during the last quarter. Tarbox Family Office Inc. grew its stake in 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 worth $117,000 after buying an additional 21 shares during the last quarter. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. grew its stake in Bank of America Corporation by 47.1% during the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 5,780 shares of the financial services provider’s stock worth $140,000 after buying an additional 1,850 shares during the last quarter. 62.04% of the stock is currently owned by institutional investors and hedge funds.

Bank of America Corporation (BAC) opened at $26.73 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.91. Bank of America Corporation has a one year low of $20.12 and a one year high of $27.98. The company has a market capitalization of $278,914.53, a PE ratio of 15.28, a P/E/G ratio of 1.85 and a beta of 1.31.

Bank of America Corporation (NYSE:BAC) last released its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. Bank of America Corporation had a return on equity of 8.33% and a net margin of 20.66%. The business had revenue of $22.08 billion for the quarter, compared to analysts’ expectations of $22.07 billion. During the same quarter in the previous year, the firm posted $0.41 earnings per share. The company’s revenue was up 2.1% compared to the same quarter last year. analysts forecast that Bank of America Corporation will post 1.81 EPS for the current year.

The company 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 dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend is Thursday, November 30th. Bank of America Corporation’s payout ratio is currently 27.43%.

BAC has been the topic of a number of research reports. Jefferies Group LLC restated a “buy” rating and set a $28.00 price target on shares of Bank of America Corporation in a research note on Friday, August 11th. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of Bank of America Corporation in a research note on Friday, October 13th. Vetr upgraded Bank of America Corporation from a “hold” rating to a “buy” rating and set a $26.59 price target on the stock in a research note on Monday, October 16th. Nomura lifted their target price on Bank of America Corporation from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, October 16th. Finally, BidaskClub downgraded Bank of America Corporation from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 9th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-four have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $25.82.

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About Bank of America Corporation

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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