Flagship Harbor Advisors LLC grew its holdings in shares of Bank of America Corporation (NYSE:BAC) by 17.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,712 shares of the financial services provider’s stock after purchasing an additional 5,119 shares during the period. Flagship Harbor Advisors LLC’s holdings in Bank of America Corporation were worth $836,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. M Holdings Securities Inc. raised its stake in Bank of America Corporation by 72.9% in the 1st quarter. M Holdings Securities Inc. now owns 95,018 shares of the financial services provider’s stock worth $2,242,000 after acquiring an additional 40,069 shares during the last quarter. Lbmc Investment Advisors LLC raised its stake in Bank of America Corporation by 0.3% in the 2nd quarter. Lbmc Investment Advisors LLC now owns 16,851 shares of the financial services provider’s stock worth $409,000 after acquiring an additional 51 shares during the last quarter. YHB Investment Advisors Inc. raised its stake in Bank of America Corporation by 17.2% in the 2nd quarter. YHB Investment Advisors Inc. now owns 161,450 shares of the financial services provider’s stock worth $3,917,000 after acquiring an additional 23,729 shares during the last quarter. Montag A & Associates Inc. raised its stake in Bank of America Corporation by 47.4% in the 2nd quarter. Montag A & Associates Inc. now owns 385,764 shares of the financial services provider’s stock worth $9,359,000 after acquiring an additional 123,986 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in Bank of America Corporation by 21.3% in the 1st quarter. AQR Capital Management LLC now owns 8,462,687 shares of the financial services provider’s stock worth $199,635,000 after acquiring an additional 1,483,772 shares during the last quarter. Hedge funds and other institutional investors own 62.19% of the company’s stock.

Bank of America Corporation (NYSE:BAC) opened at $26.24 on Wednesday. The company has a market cap of $275,368.09, a price-to-earnings ratio of 15.09, a price-to-earnings-growth ratio of 1.83 and a beta of 1.31. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.91 and a quick ratio of 0.90. Bank of America Corporation has a 12 month low of $19.60 and a 12 month high of $27.98.

Bank of America Corporation (NYSE:BAC) last posted 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. The business had revenue of $22.08 billion during the quarter, compared to the consensus estimate of $22.07 billion. Bank of America Corporation had a net margin of 20.66% and a return on equity of 8.33%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.41 earnings per share. sell-side analysts forecast that Bank of America Corporation will post 1.8 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 1st will be paid a dividend of $0.12 per share. The ex-dividend date is Thursday, November 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.83%. Bank of America Corporation’s payout ratio is currently 27.43%.

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A number of equities analysts recently issued reports on the company. BidaskClub lowered Bank of America Corporation from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 9th. Robert W. Baird restated a “hold” rating and issued a $24.00 target price on shares of Bank of America Corporation in a research note on Sunday, October 1st. Vetr lowered Bank of America Corporation from a “hold” rating to a “sell” rating and set a $26.67 target price for the company. in a research note on Monday, November 6th. Deutsche Bank AG restated a “hold” rating and issued a $25.00 target price (up previously from $23.00) on shares of Bank of America Corporation in a research note on Tuesday, September 26th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $28.00 target price on shares of Bank of America Corporation in a research note on Friday, August 11th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-four have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $25.82.

Bank of America Corporation Company Profile

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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