Bank of America Corporation (NYSE:BAC) Shares Sold by Cooke & Bieler LP

Cooke & Bieler LP lessened its position in shares of Bank of America Corporation (NYSE:BAC - Free Report) by 1.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,528,007 shares of the financial services provider's stock after selling 21,751 shares during the quarter. Cooke & Bieler LP's holdings in Bank of America were worth $63,764,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Graney & King LLC acquired a new position in Bank of America during the 4th quarter valued at approximately $25,000. Vega Investment Solutions acquired a new position in Bank of America during the 4th quarter valued at approximately $30,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Bank of America during the 4th quarter valued at approximately $31,000. Spurstone Advisory Services LLC acquired a new position in Bank of America during the 4th quarter valued at approximately $34,000. Finally, Glass Jacobson Investment Advisors llc increased its stake in Bank of America by 53.0% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 797 shares of the financial services provider's stock valued at $35,000 after purchasing an additional 276 shares in the last quarter. Institutional investors own 70.71% of the company's stock.

Bank of America Stock Performance

NYSE BAC traded up $1.01 during mid-day trading on Thursday, reaching $47.04. 56,462,887 shares of the stock were exchanged, compared to its average volume of 40,516,454. The business's 50 day moving average is $45.32 and its 200-day moving average is $43.60. Bank of America Corporation has a 1 year low of $33.07 and a 1 year high of $49.31. The company has a market capitalization of $354.33 billion, a P/E ratio of 13.76, a P/E/G ratio of 1.26 and a beta of 1.30. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.78 and a current ratio of 0.80.

Bank of America (NYSE:BAC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.86 by $0.03. Bank of America had a net margin of 14.81% and a return on equity of 10.25%. The firm had revenue of ($22,273.00) million for the quarter, compared to the consensus estimate of $26.79 billion. During the same period in the prior year, the firm posted $0.83 earnings per share. The firm's quarterly revenue was up 4.3% compared to the same quarter last year. On average, equities research analysts forecast that Bank of America Corporation will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 6th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date was Friday, June 6th. Bank of America's dividend payout ratio is presently 30.95%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on BAC shares. Wall Street Zen lowered shares of Bank of America from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Keefe, Bruyette & Woods cut their price target on shares of Bank of America from $55.00 to $52.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 16th. Citigroup upped their price objective on shares of Bank of America from $50.00 to $54.00 and gave the company a "buy" rating in a report on Thursday, June 26th. Hsbc Global Res downgraded shares of Bank of America from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 8th. Finally, Phillip Securities raised shares of Bank of America from a "moderate buy" rating to a "strong-buy" rating in a report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $49.55.

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.