Bank of America Corporation (NYSE:BAC) Holdings Raised by Brown Advisory Inc.

Brown Advisory Inc. increased its holdings in shares of Bank of America Corporation (NYSE:BAC - Free Report) by 0.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,372,376 shares of the financial services provider's stock after buying an additional 13,943 shares during the quarter. Brown Advisory Inc.'s holdings in Bank of America were worth $140,729,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in BAC. Graney & King LLC acquired a new stake in shares of Bank of America in the fourth quarter valued at about $25,000. Fairway Wealth LLC acquired a new stake in shares of Bank of America in the fourth quarter valued at about $29,000. Vega Investment Solutions acquired a new stake in shares of Bank of America in the fourth quarter valued at about $30,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Bank of America in the fourth quarter valued at about $31,000. Finally, Spurstone Advisory Services LLC acquired a new stake in shares of Bank of America in the fourth quarter valued at about $34,000. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Bank of America Stock Performance

BAC stock traded down $1.49 during mid-day trading on Tuesday, reaching $47.17. The company had a trading volume of 88,051,022 shares, compared to its average volume of 40,352,283. The company has a quick ratio of 0.78, a current ratio of 0.79 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $355.28 billion, a P/E ratio of 14.04, a P/E/G ratio of 1.33 and a beta of 1.30. Bank of America Corporation has a one year low of $33.07 and a one year high of $49.31. The stock's 50-day simple moving average is $44.46 and its two-hundred day simple moving average is $43.47.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.80 by $0.10. Bank of America had a return on equity of 10.25% and a net margin of 14.56%. The company had revenue of $27.37 billion for the quarter, compared to analysts' expectations of $26.83 billion. Research analysts anticipate that Bank of America Corporation will post 3.7 EPS for the current year.

Bank of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 6th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend was Friday, June 6th. Bank of America's dividend payout ratio is currently 30.95%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Wall Street Zen lowered Bank of America from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Oppenheimer reiterated an "outperform" rating on shares of Bank of America in a research note on Thursday, May 22nd. Argus lowered their target price on Bank of America from $53.00 to $47.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Citigroup raised their price objective on Bank of America from $50.00 to $54.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Finally, HSBC lowered Bank of America from a "buy" rating to a "hold" rating and raised their price objective for the company from $47.00 to $51.00 in a research note on Monday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.33.

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.