Commerzbank Aktiengesellschaft FI Has $9.87 Million Holdings in Bank of America Corporation (NYSE:BAC)

Commerzbank Aktiengesellschaft FI boosted its position in shares of Bank of America Corporation (NYSE:BAC) by 185.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 236,596 shares of the financial services provider’s stock after buying an additional 153,749 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Bank of America were worth $9,873,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of BAC. Graney & King LLC acquired a new position in Bank of America during the 4th quarter worth $25,000. Vega Investment Solutions bought a new stake in shares of Bank of America during the 4th quarter valued at $30,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Bank of America in the 4th quarter valued at $31,000. Spurstone Advisory Services LLC bought a new stake in shares of Bank of America in the 4th quarter valued at $34,000. Finally, Glass Jacobson Investment Advisors llc increased its position in shares of Bank of America by 53.0% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 797 shares of the financial services provider’s stock valued at $35,000 after buying an additional 276 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on BAC shares. Evercore ISI reduced their price objective on shares of Bank of America from $51.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, April 1st. JPMorgan Chase & Co. lowered their price target on shares of Bank of America from $49.50 to $43.50 and set an “overweight” rating on the stock in a report on Thursday, April 3rd. Baird R W cut shares of Bank of America from a “strong-buy” rating to a “hold” rating in a report on Friday, June 27th. Morgan Stanley increased their price target on shares of Bank of America from $47.00 to $49.00 and gave the company an “overweight” rating in a report on Monday, June 23rd. Finally, Hsbc Global Res cut shares of Bank of America from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bank of America presently has a consensus rating of “Moderate Buy” and an average price target of $49.55.

Bank of America Stock Down 0.3%

NYSE:BAC opened at $46.00 on Thursday. Bank of America Corporation has a fifty-two week low of $33.07 and a fifty-two week high of $49.31. The stock has a market capitalization of $346.49 billion, a P/E ratio of 13.69, a P/E/G ratio of 1.26 and a beta of 1.30. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.78 and a current ratio of 0.79. The company’s 50-day simple moving average is $45.32 and its 200-day simple moving average is $43.60.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.03. Bank of America had a net margin of 14.56% and a return on equity of 10.25%. The business had revenue of ($22,273.00) million for the quarter, compared to analysts’ expectations of $26.79 billion. During the same period last year, the business earned $0.83 EPS. The company’s revenue was up 4.3% compared to the same quarter last year. On average, equities analysts anticipate that Bank of America Corporation will post 3.7 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 6th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend was Friday, June 6th. Bank of America’s dividend payout ratio is currently 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.