Matthew Goff Investment Advisor LLC boosted its holdings in shares of Bank of America Corporation (NYSE:BAC) by 8.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 151,585 shares of the financial services provider’s stock after purchasing an additional 12,240 shares during the quarter. Bank of America Corporation comprises about 3.3% of Matthew Goff Investment Advisor LLC’s investment portfolio, making the stock its 13th largest position. Matthew Goff Investment Advisor LLC’s holdings in Bank of America Corporation were worth $3,677,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Northwest Investment Counselors LLC purchased a new stake in shares of Bank of America Corporation in the second quarter valued at $100,000. Armbruster Capital Management Inc. raised its stake in shares of Bank of America Corporation by 10.8% in the first quarter. Armbruster Capital Management Inc. now owns 4,323 shares of the financial services provider’s stock valued at $102,000 after acquiring an additional 423 shares during the period. Chicago Partners Investment Group LLC raised its stake in shares of Bank of America Corporation by 11.0% in the second quarter. Chicago Partners Investment Group LLC now owns 4,531 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 450 shares during the period. Tarbox Family Office Inc. raised its stake in shares of Bank of America Corporation by 0.4% in the second quarter. Tarbox Family Office Inc. now owns 4,809 shares of the financial services provider’s stock valued at $117,000 after acquiring an additional 21 shares during the period. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. raised its stake in shares of Bank of America Corporation by 47.1% in the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 5,780 shares of the financial services provider’s stock valued at $140,000 after acquiring an additional 1,850 shares during the period. 62.04% of the stock is currently owned by institutional investors.

Bank of America Corporation (BAC) opened at $26.59 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.91. Bank of America Corporation has a 1-year low of $20.25 and a 1-year high of $27.98. The stock has a market cap of $278,080.06, a PE ratio of 15.23, a price-to-earnings-growth ratio of 1.84 and a beta of 1.31.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.81%. The ex-dividend date is Thursday, November 30th. Bank of America Corporation’s payout ratio is 27.43%.

Several equities research analysts have recently weighed in on the stock. BidaskClub raised shares of Bank of America Corporation from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. Robert W. Baird reissued 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. Deutsche Bank AG reissued 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. Jefferies Group LLC restated a “buy” rating and issued a $28.00 price target on shares of Bank of America Corporation in a report on Friday, August 11th. Finally, Citigroup Inc. restated a “neutral” rating and issued a $27.00 price target (up from $25.00) on shares of Bank of America Corporation in a report on Monday, October 9th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-four have issued a buy rating and three have given a strong buy rating to the company. Bank of America Corporation currently has an average rating of “Buy” and a consensus target price 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.

Institutional Ownership by Quarter for Bank of America Corporation (NYSE:BAC)

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