DekaBank Deutsche Girozentrale Has $261.22 Million Stock Position in Bank of America Corporation (NYSE:BAC)

DekaBank Deutsche Girozentrale grew its stake in Bank of America Corporation (NYSE:BAC - Free Report) by 1.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,412,426 shares of the financial services provider's stock after buying an additional 92,435 shares during the period. DekaBank Deutsche Girozentrale owned approximately 0.08% of Bank of America worth $261,218,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Personal CFO Solutions LLC lifted its position in shares of Bank of America by 8.2% in the first quarter. Personal CFO Solutions LLC now owns 36,838 shares of the financial services provider's stock worth $1,537,000 after buying an additional 2,779 shares during the last quarter. Stratos Investment Management LLC lifted its position in shares of Bank of America by 17.3% in the first quarter. Stratos Investment Management LLC now owns 175,882 shares of the financial services provider's stock worth $7,340,000 after buying an additional 25,892 shares during the last quarter. NTV Asset Management LLC lifted its position in shares of Bank of America by 0.6% in the first quarter. NTV Asset Management LLC now owns 52,906 shares of the financial services provider's stock worth $2,208,000 after buying an additional 301 shares during the last quarter. Hourglass Capital LLC lifted its position in shares of Bank of America by 12.5% in the first quarter. Hourglass Capital LLC now owns 52,687 shares of the financial services provider's stock worth $2,199,000 after buying an additional 5,860 shares during the last quarter. Finally, Brown Advisory Inc. lifted its position in shares of Bank of America by 0.4% in the first quarter. Brown Advisory Inc. now owns 3,372,376 shares of the financial services provider's stock worth $140,729,000 after buying an additional 13,943 shares during the last quarter. Institutional investors and hedge funds own 70.71% of the company's stock.

Wall Street Analyst Weigh In

BAC has been the subject of several research analyst reports. Hsbc Global Res cut Bank of America from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Baird R W cut Bank of America from a "strong-buy" rating to a "hold" rating in a report on Friday, June 27th. Citigroup upped their price target on Bank of America from $50.00 to $54.00 and gave the company a "buy" rating in a report on Thursday, June 26th. Cfra Research upped their price target on Bank of America to $47.00 and gave the company a "buy" rating in a report on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods cut their price target on Bank of America from $55.00 to $52.00 and set an "outperform" rating for the company in a report on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $48.89.

Bank of America Price Performance

BAC stock traded up $0.08 during midday trading on Thursday, reaching $46.92. 43,708,038 shares of the company's stock traded hands, compared to its average volume of 40,467,681. The company has a 50-day simple moving average of $44.74 and a two-hundred day simple moving average of $43.52. 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 cap of $353.43 billion, a price-to-earnings ratio of 13.97, a PEG ratio of 1.28 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 (NYSE:BAC - Get Free Report) last released its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share 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 firm had revenue of $27.37 billion during the quarter, compared to analysts' expectations of $26.83 billion. On average, analysts anticipate that Bank of America Corporation will post 3.7 earnings per share for the current year.

Bank of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 6th were issued a dividend of $0.26 per share. The ex-dividend date was Friday, June 6th. This represents a $1.04 dividend on an annualized basis and a yield of 2.22%. Bank of America's dividend payout ratio is 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.