Kathmere Capital Management LLC Has $964,000 Holdings in Bank of America Co. (NYSE:BAC)

Kathmere Capital Management LLC boosted its position in shares of Bank of America Co. (NYSE:BAC) by 26.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,417 shares of the financial services provider’s stock after buying an additional 5,264 shares during the period. Kathmere Capital Management LLC’s holdings in Bank of America were worth $964,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of BAC. Rossmore Private Capital lifted its stake in shares of Bank of America by 1.2% during the 4th quarter. Rossmore Private Capital now owns 26,537 shares of the financial services provider’s stock valued at $894,000 after buying an additional 303 shares in the last quarter. Chemistry Wealth Management LLC boosted its position in shares of Bank of America by 0.3% in the first quarter. Chemistry Wealth Management LLC now owns 109,541 shares of the financial services provider’s stock valued at $4,154,000 after acquiring an additional 310 shares during the period. Regent Peak Wealth Advisors LLC grew its stake in Bank of America by 3.2% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 9,976 shares of the financial services provider’s stock valued at $336,000 after acquiring an additional 314 shares in the last quarter. Kennedy Investment Group increased its holdings in Bank of America by 0.6% during the 4th quarter. Kennedy Investment Group now owns 58,007 shares of the financial services provider’s stock worth $1,953,000 after acquiring an additional 321 shares during the period. Finally, Private Ocean LLC lifted its stake in Bank of America by 34.0% in the 4th quarter. Private Ocean LLC now owns 1,281 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 325 shares in the last quarter. 70.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BAC has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price target on shares of Bank of America from $39.50 to $40.50 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. UBS Group reaffirmed a “neutral” rating and issued a $40.00 target price (up from $39.00) on shares of Bank of America in a research note on Thursday, April 4th. Oppenheimer boosted their price target on shares of Bank of America from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 30th. Piper Sandler raised their price objective on shares of Bank of America from $35.00 to $37.00 and gave the company an “underweight” rating in a research report on Tuesday, June 4th. Finally, Wolfe Research upgraded shares of Bank of America from a “peer perform” rating to an “outperform” rating and set a $42.00 target price for the company in a research report on Friday, April 19th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $39.79.

Bank of America Trading Up 1.3 %

NYSE:BAC opened at $39.77 on Friday. The firm has a market capitalization of $311.02 billion, a P/E ratio of 13.76, a P/E/G ratio of 1.50 and a beta of 1.36. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.12. The company has a fifty day moving average of $38.91 and a 200 day moving average of $36.06. Bank of America Co. has a 52 week low of $24.96 and a 52 week high of $40.34.

Bank of America (NYSE:BAC) last posted its earnings results on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.06. Bank of America had a net margin of 13.94% and a return on equity of 10.88%. The company had revenue of $25.82 billion during the quarter, compared to analyst estimates of $25.49 billion. During the same period in the prior year, the business posted $0.94 earnings per share. Bank of America’s revenue for the quarter was down 1.7% on a year-over-year basis. On average, research analysts predict that Bank of America Co. will post 3.22 earnings per share for the current year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were paid a dividend of $0.24 per share. The ex-dividend date was Friday, June 7th. This represents a $0.96 annualized dividend and a dividend yield of 2.41%. Bank of America’s dividend payout ratio (DPR) is presently 33.22%.

About Bank of America

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.