Jacobi Capital Management LLC raised its stake in Bank of America Corporation (NYSE:BAC) by 30.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,287 shares of the financial services provider’s stock after buying an additional 1,940 shares during the period. Jacobi Capital Management LLC’s holdings in Bank of America Corporation were worth $206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. M Holdings Securities Inc. boosted its position 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 valued at $2,242,000 after buying an additional 40,069 shares during the period. Lbmc Investment Advisors LLC boosted its position 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 valued at $409,000 after buying an additional 51 shares during the period. YHB Investment Advisors Inc. boosted its position 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 valued at $3,917,000 after buying an additional 23,729 shares during the period. Montag A & Associates Inc. boosted its position 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 valued at $9,359,000 after buying an additional 123,986 shares during the period. Finally, AQR Capital Management LLC boosted its position 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 valued at $199,635,000 after buying an additional 1,483,772 shares during the period. 62.04% of the stock is owned by institutional investors.

Shares of Bank of America Corporation (BAC) opened at $26.74 on Tuesday. The firm has a market cap of $279,020.00, a price-to-earnings ratio of 15.21, a PEG ratio of 1.84 and a beta of 1.31. Bank of America Corporation has a 52 week low of $20.01 and a 52 week high of $27.98. 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 (NYSE:BAC) last released its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.02. The firm had revenue of $22.08 billion for the quarter, compared to analyst estimates of $22.07 billion. Bank of America Corporation had a net margin of 20.66% and a return on equity of 8.33%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.41 earnings per share. research analysts forecast that Bank of America Corporation will post 1.8 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be paid a $0.12 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.80%. Bank of America Corporation’s payout ratio is currently 27.91%.

Several equities research analysts have issued reports on BAC shares. Vetr raised shares of Bank of America Corporation from a “hold” rating to a “buy” rating and set a $26.59 price objective for the company in a research report on Monday, October 16th. BidaskClub raised shares of Bank of America Corporation from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Jefferies Group LLC reissued a “buy” rating and issued a $28.00 price objective on shares of Bank of America Corporation in a research report on Friday, August 11th. Deutsche Bank AG reissued a “hold” rating and issued a $25.00 price objective (up from $23.00) on shares of Bank of America Corporation in a research report on Tuesday, September 26th. Finally, Royal Bank Of Canada boosted their price objective on shares of Bank of America Corporation from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Monday, October 16th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-four have assigned a buy rating and three have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $25.82.

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Bank of America Corporation 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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