Bank of America (NYSE:BAC) Trading Down 0.1%

Bank of America Co. (NYSE:BAC)’s stock price traded down 0.1% during trading on Monday . The stock traded as low as $39.74 and last traded at $39.74. 8,833,333 shares were traded during trading, a decline of 77% from the average session volume of 38,725,973 shares. The stock had previously closed at $39.77.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Citigroup upped their price target on Bank of America from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. StockNews.com lowered Bank of America from a “hold” rating to a “sell” rating in a research note on Monday, May 20th. Jefferies Financial Group upped their price target on Bank of America from $36.00 to $39.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Wolfe Research upgraded Bank of America from a “peer perform” rating to an “outperform” rating and set a $42.00 price target for the company in a research note on Friday, April 19th. Finally, Erste Group Bank upgraded Bank of America from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Bank of America presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.79.

Bank of America Trading Up 2.3 %

The business has a 50 day simple moving average of $38.95 and a two-hundred day simple moving average of $36.17. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.12. The stock has a market cap of $320.09 billion, a price-to-earnings ratio of 14.16, 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 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $25.49 billion. During the same quarter last year, the business posted $0.94 EPS. Bank of America’s quarterly revenue was down 1.7% compared to the same quarter last year. As a group, equities analysts anticipate that Bank of America Co. will post 3.22 EPS for the current year.

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend was Friday, June 7th. Bank of America’s dividend payout ratio is presently 33.22%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of BAC. Fortis Group Advisors LLC bought a new stake in shares of Bank of America in the 3rd quarter worth approximately $25,000. Delos Wealth Advisors LLC lifted its holdings in shares of Bank of America by 402.2% in the 1st quarter. Delos Wealth Advisors LLC now owns 683 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 547 shares during the last quarter. Livelsberger Financial Advisory bought a new stake in shares of Bank of America in the 4th quarter worth approximately $28,000. Criterion Capital Advisors LLC bought a new stake in shares of Bank of America in the 4th quarter worth approximately $32,000. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Bank of America in the 1st quarter worth approximately $33,000. Institutional investors own 70.71% of the company’s stock.

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.