Diversified Trust Co Has $6.41 Million Stock Position in Bank of America Co. (NYSE:BAC)

Diversified Trust Co lifted its stake in shares of Bank of America Co. (NYSE:BAC) by 18.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 168,915 shares of the financial services provider’s stock after purchasing an additional 26,145 shares during the quarter. Diversified Trust Co’s holdings in Bank of America were worth $6,405,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of BAC. Sherbrooke Park Advisers LLC bought a new stake in shares of Bank of America during the 3rd quarter worth $410,000. Caisse DE Depot ET Placement DU Quebec raised its position in Bank of America by 103.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,650,335 shares of the financial services provider’s stock valued at $45,186,000 after purchasing an additional 839,635 shares during the last quarter. United Services Automobile Association raised its position in Bank of America by 11.1% in the third quarter. United Services Automobile Association now owns 184,523 shares of the financial services provider’s stock valued at $5,052,000 after purchasing an additional 18,504 shares during the last quarter. Quadrature Capital Ltd raised its position in Bank of America by 25.0% in the third quarter. Quadrature Capital Ltd now owns 612,159 shares of the financial services provider’s stock valued at $16,761,000 after purchasing an additional 122,501 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in Bank of America by 231.8% in the third quarter. AQR Capital Management LLC now owns 4,502,265 shares of the financial services provider’s stock valued at $123,272,000 after purchasing an additional 3,145,432 shares during the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BAC has been the subject of several research reports. Jefferies Financial Group increased their target price on Bank of America from $36.00 to $39.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Erste Group Bank raised Bank of America from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Oppenheimer increased their price target on Bank of America from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Tuesday, April 30th. StockNews.com cut Bank of America from a “hold” rating to a “sell” rating in a research note on Monday, May 20th. Finally, Evercore ISI increased their price target on Bank of America from $37.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $39.79.

Bank of America Trading Up 0.0 %

Shares of NYSE BAC traded up $0.01 during midday trading on Monday, reaching $39.78. The company had a trading volume of 10,534,236 shares, compared to its average volume of 38,739,578. Bank of America Co. has a one year low of $24.96 and a one year high of $40.34. 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 firm’s fifty day moving average price is $38.91 and its 200-day moving average price is $36.12. The stock has a market cap of $311.09 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 1.52 and a beta of 1.35.

Bank of America (NYSE:BAC) last released its earnings results on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. Bank of America had a return on equity of 10.88% and a net margin of 13.94%. The company had revenue of $25.82 billion during the quarter, compared to analyst estimates of $25.49 billion. During the same quarter in the previous year, the company posted $0.94 EPS. Bank of America’s revenue for the quarter was down 1.7% on a year-over-year basis. On average, equities research analysts anticipate 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 declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date was Friday, June 7th. Bank of America’s payout ratio is 33.22%.

Bank of America Company 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.