Bank of America Corporation (NYSE:BAC) Shares Acquired by Boston Trust Walden Corp

Boston Trust Walden Corp boosted its position in Bank of America Corporation (NYSE:BAC) by 7.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 42,162 shares of the financial services provider’s stock after purchasing an additional 2,954 shares during the quarter. Boston Trust Walden Corp’s holdings in Bank of America were worth $1,759,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Graney & King LLC acquired a new position in shares of Bank of America in the fourth quarter valued at approximately $25,000. Fairway Wealth LLC purchased a new stake in Bank of America in the 4th quarter worth approximately $29,000. Vega Investment Solutions acquired a new position in Bank of America in the 4th quarter valued at $30,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Bank of America during the 4th quarter worth $31,000. Finally, Spurstone Advisory Services LLC acquired a new stake in shares of Bank of America during the fourth quarter worth $34,000. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on BAC shares. Wall Street Zen lowered Bank of America from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Citigroup dropped their price objective on shares of Bank of America from $54.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, March 24th. TD Cowen initiated coverage on shares of Bank of America in a research report on Thursday, May 15th. They issued a “buy” rating and a $53.00 target price on the stock. Cowen assumed coverage on shares of Bank of America in a research report on Wednesday, May 14th. They set a “buy” rating for the company. Finally, Robert W. Baird raised shares of Bank of America from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $45.00 to $50.00 in a research note on Friday, March 7th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.69.

Bank of America Stock Up 1.0%

NYSE BAC opened at $45.51 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.79 and a debt-to-equity ratio of 1.11. Bank of America Corporation has a fifty-two week low of $33.07 and a fifty-two week high of $48.08. The business has a 50 day moving average price of $42.36 and a two-hundred day moving average price of $43.33. The stock has a market cap of $342.78 billion, a PE ratio of 13.54, a P/E/G ratio of 1.22 and a beta of 1.30.

Bank of America (NYSE:BAC) last announced its earnings results 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 during the quarter, compared to the consensus estimate of $26.83 billion. Bank of America had a net margin of 14.56% and a return on equity of 10.25%. As a group, sell-side analysts predict that Bank of America Corporation will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.04 annualized dividend and a dividend yield of 2.29%. Bank of America’s dividend payout ratio is presently 30.95%.

Bank of America Company 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.