Bank of America Co. (NYSE:BAC) Shares Acquired by Czech National Bank

Czech National Bank increased its stake in shares of Bank of America Co. (NYSE:BAC - Free Report) by 5.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,520,845 shares of the financial services provider's stock after buying an additional 73,485 shares during the quarter. Bank of America comprises 0.6% of Czech National Bank's holdings, making the stock its 26th largest position. Czech National Bank's holdings in Bank of America were worth $63,465,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in Bank of America by 30.0% in the fourth quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider's stock valued at $4,785,000 after acquiring an additional 25,143 shares during the last quarter. New Wave Wealth Advisors LLC acquired a new position in shares of Bank of America in the 4th quarter valued at $165,000. Heck Capital Advisors LLC purchased a new position in shares of Bank of America during the 4th quarter worth $429,000. Waldron Private Wealth LLC increased its position in shares of Bank of America by 96.6% during the 4th quarter. Waldron Private Wealth LLC now owns 111,122 shares of the financial services provider's stock worth $4,884,000 after purchasing an additional 54,587 shares during the last quarter. Finally, Concord Asset Management LLC VA raised its holdings in Bank of America by 9.2% in the 4th quarter. Concord Asset Management LLC VA now owns 17,326 shares of the financial services provider's stock valued at $761,000 after buying an additional 1,458 shares during the period. Institutional investors and hedge funds own 70.71% of the company's stock.

Bank of America Stock Down 0.3%

Bank of America stock traded down $0.12 during midday trading on Wednesday, reaching $44.53. The company's stock had a trading volume of 16,581,805 shares, compared to its average volume of 39,661,097. The company has a market cap of $335.39 billion, a P/E ratio of 13.83, a P/E/G ratio of 1.21 and a beta of 1.27. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. The business has a 50-day simple moving average of $40.53 and a 200-day simple moving average of $43.52. Bank of America Co. has a fifty-two week low of $33.07 and a fifty-two week high of $48.08.

Bank of America (NYSE:BAC - Get Free Report) last posted its earnings results on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.10. The firm had revenue of $27.37 billion during the quarter, compared to analysts' expectations of $26.83 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. On average, research analysts expect that Bank of America Co. will post 3.7 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 6th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend is Friday, June 6th. Bank of America's payout ratio is 30.95%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on BAC shares. Evercore ISI lowered their target price on shares of Bank of America from $51.00 to $48.00 and set an "outperform" rating for the company in a research note on Tuesday, April 1st. UBS Group increased their price objective on shares of Bank of America from $46.00 to $50.00 and gave the stock a "buy" rating in a research report on Wednesday, April 16th. Keefe, Bruyette & Woods cut their target price on Bank of America from $55.00 to $52.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 16th. Phillip Securities upgraded Bank of America from a "moderate buy" rating to a "strong-buy" rating in a research report on Thursday, April 17th. Finally, Cowen began coverage on Bank of America in a research note on Wednesday, May 14th. They set a "buy" rating on the stock. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $47.50.

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.