Members Trust Co Has $201,000 Stake in Bank of America Corporation (NYSE:BAC)

Members Trust Co lessened its stake in shares of Bank of America Corporation (NYSE:BAC) by 14.2% in the 1st quarter, HoldingsChannel.com reports. The fund owned 4,819 shares of the financial services provider’s stock after selling 795 shares during the period. Members Trust Co’s holdings in Bank of America were worth $201,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. TAGStone Capital Inc. lifted its position in Bank of America by 1.2% in the fourth quarter. TAGStone Capital Inc. now owns 19,802 shares of the financial services provider’s stock worth $870,000 after purchasing an additional 227 shares during the period. Hayek Kallen Investment Management increased its holdings in Bank of America by 2.0% in the 4th quarter. Hayek Kallen Investment Management now owns 12,022 shares of the financial services provider’s stock valued at $528,000 after buying an additional 233 shares during the period. Continuum Advisory LLC lifted its holdings in shares of Bank of America by 1.4% during the 4th quarter. Continuum Advisory LLC now owns 16,707 shares of the financial services provider’s stock worth $734,000 after acquiring an additional 237 shares during the period. Menard Financial Group LLC boosted its position in shares of Bank of America by 1.2% during the 4th quarter. Menard Financial Group LLC now owns 20,620 shares of the financial services provider’s stock valued at $906,000 after acquiring an additional 240 shares in the last quarter. Finally, Hancock Whitney Corp increased its stake in Bank of America by 0.3% in the fourth quarter. Hancock Whitney Corp now owns 89,203 shares of the financial services provider’s stock valued at $3,920,000 after acquiring an additional 260 shares during the period. Institutional investors and hedge funds own 70.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Robert W. Baird restated a “neutral” rating and set a $52.00 target price on shares of Bank of America in a research report on Friday, June 27th. Keefe, Bruyette & Woods dropped their price objective on shares of Bank of America from $55.00 to $52.00 and set an “outperform” rating for the company in a report on Wednesday, April 16th. Hsbc Global Res cut shares of Bank of America from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 8th. Barclays decreased their price target on Bank of America from $58.00 to $54.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Finally, Cowen assumed coverage on Bank of America in a research report on Wednesday, May 14th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $49.36.

Bank of America Stock Performance

BAC stock opened at $46.00 on Thursday. 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 twelve month low of $33.07 and a twelve month high of $49.31. The business’s fifty day moving average is $45.32 and its 200-day moving average is $43.60. The company has a market cap of $346.49 billion, a P/E ratio of 13.69, a price-to-earnings-growth ratio of 1.26 and a beta of 1.30.

Bank of America (NYSE:BAC) last posted its earnings results on Wednesday, July 16th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.03. The company had revenue of ($22,273.00) million during the quarter, compared to analyst estimates of $26.79 billion. Bank of America had a return on equity of 10.25% and a net margin of 14.56%. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.83 EPS. Equities research analysts forecast that Bank of America Corporation will post 3.7 EPS for the current year.

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 6th were issued a $0.26 dividend. The ex-dividend date was Friday, June 6th. This represents a $1.04 annualized dividend and a yield of 2.26%. Bank of America’s dividend payout ratio (DPR) is presently 30.95%.

Bank of America 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.