Creekmur Asset Management LLC Acquires 14,642 Shares of Bank of America Corporation (NYSE:BAC)

Creekmur Asset Management LLC increased its stake in shares of Bank of America Corporation (NYSE:BAC - Free Report) by 45,756.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,674 shares of the financial services provider's stock after purchasing an additional 14,642 shares during the quarter. Creekmur Asset Management LLC's holdings in Bank of America were worth $612,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Brighton Jones LLC raised its stake 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 valued at $4,785,000 after purchasing an additional 25,143 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its position in shares of Bank of America by 35.7% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 860,005 shares of the financial services provider's stock worth $37,797,000 after acquiring an additional 226,246 shares during the last quarter. Proficio Capital Partners LLC grew its holdings in Bank of America by 65.3% in the fourth quarter. Proficio Capital Partners LLC now owns 20,252 shares of the financial services provider's stock valued at $890,000 after purchasing an additional 7,999 shares during the period. Brooklyn FI LLC acquired a new position in Bank of America during the fourth quarter worth approximately $1,081,000. Finally, OVERSEA CHINESE BANKING Corp Ltd grew its position in Bank of America by 140.2% during the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 27,593 shares of the financial services provider's stock valued at $1,218,000 after acquiring an additional 16,106 shares during the period. Institutional investors and hedge funds own 70.71% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. UBS Group increased their target price 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. Oppenheimer decreased their price target on Bank of America from $57.00 to $55.00 and set an "outperform" rating for the company in a report on Thursday. The Goldman Sachs Group boosted their price target 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. Barclays cut their price target on Bank of America from $58.00 to $54.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, JPMorgan Chase & Co. reduced their price objective on Bank of America from $49.50 to $43.50 and set an "overweight" rating on the stock in a research note on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $50.03.

Bank of America Stock Performance

BAC traded up $0.53 during trading hours on Monday, reaching $47.85. The company's stock had a trading volume of 7,342,128 shares, compared to its average volume of 40,375,793. Bank of America Corporation has a 52 week low of $33.07 and a 52 week high of $49.31. The company's 50-day moving average is $45.53 and its 200-day moving average is $43.64. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.79 and a current ratio of 0.80. The firm has a market cap of $360.43 billion, a PE ratio of 13.98, a price-to-earnings-growth ratio of 1.29 and a beta of 1.30.

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

Bank of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 6th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.17%. The ex-dividend date was Friday, June 6th. Bank of America's dividend payout ratio (DPR) is presently 30.41%.

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.