Continuum Advisory LLC Has $926,000 Position in Bank of America Corporation (NYSE:BAC)

Continuum Advisory LLC raised its stake in shares of Bank of America Corporation (NYSE:BAC - Free Report) by 32.9% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 22,196 shares of the financial services provider's stock after acquiring an additional 5,489 shares during the period. Continuum Advisory LLC's holdings in Bank of America were worth $926,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC increased its holdings in Bank of America by 30.0% in the 4th quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider's stock worth $4,785,000 after acquiring an additional 25,143 shares in the last quarter. Bank Pictet & Cie Europe AG grew its holdings in Bank of America by 35.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 860,005 shares of the financial services provider's stock valued at $37,797,000 after buying an additional 226,246 shares in the last quarter. TCW Group Inc. grew its holdings in Bank of America by 1.4% during the 4th quarter. TCW Group Inc. now owns 93,594 shares of the financial services provider's stock valued at $4,113,000 after buying an additional 1,301 shares in the last quarter. Howard Capital Management Inc. grew its holdings in Bank of America by 5.4% during the 4th quarter. Howard Capital Management Inc. now owns 47,054 shares of the financial services provider's stock valued at $2,068,000 after buying an additional 2,406 shares in the last quarter. Finally, MONECO Advisors LLC grew its holdings in Bank of America by 49.7% during the 4th quarter. MONECO Advisors LLC now owns 32,973 shares of the financial services provider's stock valued at $1,449,000 after buying an additional 10,940 shares in the last quarter. Institutional investors own 70.71% of the company's stock.

Bank of America Stock Up 0.4%

Shares of NYSE BAC traded up $0.19 during trading hours on Wednesday, hitting $46.85. The company had a trading volume of 33,529,657 shares, compared to its average volume of 39,882,650. The stock has a market capitalization of $352.87 billion, a P/E ratio of 13.94, a price-to-earnings-growth ratio of 1.26 and a beta of 1.30. The company has a quick ratio of 0.78, a current ratio of 0.79 and a debt-to-equity ratio of 1.11. Bank of America Corporation has a 1-year low of $33.07 and a 1-year high of $48.08. The firm's 50 day moving average is $42.91 and its 200-day moving average is $43.33.

Bank of America (NYSE:BAC - Get Free Report) last posted 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 firm had revenue of $27.37 billion for the quarter, compared to analysts' expectations of $26.83 billion. Bank of America had a return on equity of 10.25% and a net margin of 14.56%. On average, analysts expect that Bank of America Corporation will post 3.7 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 6th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Friday, June 6th. Bank of America's dividend payout ratio is presently 30.95%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Baird R W raised shares of Bank of America from a "hold" rating to a "strong-buy" rating in a report on Friday, March 7th. UBS Group raised their target price on shares of Bank of America from $46.00 to $50.00 and gave the company a "buy" rating in a report on Wednesday, April 16th. Citigroup cut their target price on shares of Bank of America from $54.00 to $50.00 and set a "buy" rating for the company in a report on Monday, March 24th. Piper Sandler cut their target price on shares of Bank of America from $45.00 to $42.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Finally, Robert W. Baird raised shares of Bank of America from a "neutral" rating to an "outperform" rating and raised their target price for the company from $45.00 to $50.00 in a report on Friday, March 7th. Two analysts have rated the stock with a sell rating, four have given a hold rating, nineteen have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $47.40.

About Bank of America

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.