Bank of America Corporation (NYSE:BAC) Shares Sold by Hoertkorn Richard Charles

Hoertkorn Richard Charles lowered its holdings in shares of Bank of America Corporation (NYSE:BAC - Free Report) by 2.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 288,813 shares of the financial services provider's stock after selling 8,330 shares during the period. Bank of America accounts for approximately 5.6% of Hoertkorn Richard Charles' holdings, making the stock its 7th largest position. Hoertkorn Richard Charles' holdings in Bank of America were worth $12,052,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of BAC. Graney & King LLC acquired a new stake in shares of Bank of America during the 4th quarter worth about $25,000. Fairway Wealth LLC bought a new position in Bank of America in the 4th quarter valued at about $29,000. Vega Investment Solutions bought a new position in Bank of America in the 4th quarter valued at about $30,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Bank of America during the fourth quarter worth approximately $31,000. Finally, Spurstone Advisory Services LLC bought a new stake in shares of Bank of America during the fourth quarter worth approximately $34,000. Institutional investors and hedge funds own 70.71% of the company's stock.

Analyst Upgrades and Downgrades

BAC has been the topic of a number of recent research reports. The Goldman Sachs Group increased their target price on Bank of America from $46.00 to $52.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Royal Bank Of Canada lowered their price objective on Bank of America from $50.00 to $45.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 16th. Citigroup boosted their target price on shares of Bank of America from $50.00 to $54.00 and gave the company a "buy" rating in a research report on Thursday. Cfra Research upped their price target on shares of Bank of America to $47.00 and gave the company a "buy" rating in a research note on Wednesday, April 16th. Finally, Baird R W upgraded shares of Bank of America from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, Bank of America currently has a consensus rating of "Moderate Buy" and an average price target of $47.65.

Bank of America Trading Down 0.7%

Shares of BAC stock opened at $47.11 on Friday. The stock's fifty day moving average price is $43.31 and its two-hundred day moving average price is $43.35. The company has a market cap of $354.85 billion, a PE ratio of 14.02, a P/E/G ratio of 1.28 and a beta of 1.30. Bank of America Corporation has a fifty-two week low of $33.07 and a fifty-two week high of $48.08. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.78 and a current ratio of 0.79.

Bank of America (NYSE:BAC - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $27.37 billion during the quarter, compared to the consensus estimate of $26.83 billion. Bank of America had a return on equity of 10.25% and a net margin of 14.56%. Equities analysts predict that Bank of America Corporation will post 3.7 EPS for the current fiscal year.

Bank of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 6th were issued a $0.26 dividend. The ex-dividend date was Friday, June 6th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.21%. Bank of America's dividend payout ratio (DPR) is currently 30.95%.

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.

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