Wesbanco Bank Inc. boosted its position in shares of Bank of America Corporation (NYSE:BAC) by 2.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 63,244 shares of the financial services provider’s stock after buying an additional 1,248 shares during the period. Wesbanco Bank Inc.’s holdings in Bank of America Corporation were worth $1,492,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of BAC. Moloney Securities Asset Management LLC increased its stake in shares of Bank of America Corporation by 10.2% in the first quarter. Moloney Securities Asset Management LLC now owns 18,264 shares of the financial services provider’s stock worth $431,000 after buying an additional 1,696 shares during the period. iAB Financial Bank purchased a new stake in shares of Bank of America Corporation during the first quarter worth $207,000. Hudock Capital Group LLC increased its stake in shares of Bank of America Corporation by 46.1% in the first quarter. Hudock Capital Group LLC now owns 29,979 shares of the financial services provider’s stock worth $707,000 after buying an additional 9,459 shares during the period. Greenwich Wealth Management LLC increased its stake in shares of Bank of America Corporation by 2.0% in the first quarter. Greenwich Wealth Management LLC now owns 139,143 shares of the financial services provider’s stock worth $3,282,000 after buying an additional 2,768 shares during the period. Finally, Argyle Capital Management Inc. increased its stake in shares of Bank of America Corporation by 0.7% in the first quarter. Argyle Capital Management Inc. now owns 142,836 shares of the financial services provider’s stock worth $3,370,000 after buying an additional 1,000 shares during the period. Institutional investors and hedge funds own 65.85% of the company’s stock.

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

Shares of Bank of America Corporation (NYSE BAC) opened at 23.43 on Friday. The stock’s 50 day moving average price is $23.35 and its 200-day moving average price is $23.32. The firm has a market capitalization of $246.40 billion, a price-to-earnings ratio of 14.42 and a beta of 1.32. Bank of America Corporation has a 12 month low of $12.05 and a 12 month high of $25.80.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 2nd will be given a $0.075 dividend. The ex-dividend date of this dividend is Wednesday, May 31st. This represents a $0.30 annualized dividend and a dividend yield of 1.28%. Bank of America Corporation’s dividend payout ratio is currently 18.99%.

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A number of brokerages have recently weighed in on BAC. Vetr upgraded Bank of America Corporation from a “hold” rating to a “buy” rating and set a $24.52 price target for the company in a report on Thursday. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $27.00 price target on shares of Bank of America Corporation in a report on Wednesday, June 7th. Credit Suisse Group reiterated a “buy” rating on shares of Bank of America Corporation in a report on Sunday, June 4th. Jefferies Group LLC reiterated a “buy” rating and issued a $28.00 price target on shares of Bank of America Corporation in a report on Friday, May 5th. Finally, Zacks Investment Research downgraded Bank of America Corporation from a “buy” rating to a “hold” rating in a report on Monday, April 24th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the stock. Bank of America Corporation presently has an average rating of “Buy” and an average target price of $22.81.

In related news, Director Thomas D. Woods purchased 25,000 shares of Bank of America Corporation stock in a transaction dated Thursday, April 27th. The shares were acquired at an average cost of $23.81 per share, for a total transaction of $595,250.00. Following the transaction, the director now directly owns 40,830 shares of the company’s stock, valued at $972,162.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is owned by company insiders.

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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