Dupont Capital Management Corp Has $17.01 Million Stock Holdings in Bank of America Corporation (NYSE:BAC)

Dupont Capital Management Corp boosted its holdings in Bank of America Corporation (NYSE:BAC - Free Report) by 7.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 407,696 shares of the financial services provider's stock after acquiring an additional 28,198 shares during the quarter. Bank of America accounts for about 1.9% of Dupont Capital Management Corp's investment portfolio, making the stock its 13th biggest position. Dupont Capital Management Corp's holdings in Bank of America were worth $17,013,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Covea Finance bought a new stake in Bank of America in the first quarter valued at about $19,684,000. Carr Financial Group Corp increased its stake in Bank of America by 12.7% in the first quarter. Carr Financial Group Corp now owns 10,379 shares of the financial services provider's stock valued at $433,000 after acquiring an additional 1,168 shares during the period. Advisor Resource Council bought a new stake in Bank of America in the first quarter valued at about $856,000. Segment Wealth Management LLC increased its stake in Bank of America by 65.9% in the first quarter. Segment Wealth Management LLC now owns 8,390 shares of the financial services provider's stock valued at $350,000 after acquiring an additional 3,332 shares during the period. Finally, Meriwether Wealth & Planning LLC increased its stake in Bank of America by 16.3% in the first quarter. Meriwether Wealth & Planning LLC now owns 20,441 shares of the financial services provider's stock valued at $853,000 after acquiring an additional 2,868 shares during the period. Institutional investors own 70.71% of the company's stock.

Bank of America Trading Up 1.0%

BAC stock traded up $0.45 during midday trading on Friday, reaching $45.51. The company's stock had a trading volume of 64,519,452 shares, compared to its average volume of 39,802,976. The business's 50-day simple moving average is $42.36 and its 200-day simple moving average is $43.31. 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 cap of $342.78 billion, a PE ratio of 13.54, a price-to-earnings-growth ratio of 1.23 and a beta of 1.30. Bank of America Corporation has a 52 week low of $33.07 and a 52 week high of $48.08.

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 for the quarter, topping the consensus estimate of $0.80 by $0.10. The company had revenue of $27.37 billion for the quarter, compared to analyst estimates of $26.83 billion. Bank of America had a net margin of 14.56% and a return on equity of 10.25%. As a group, sell-side analysts expect that Bank of America Corporation will post 3.7 EPS for the current year.

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 6th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.04 annualized dividend and a yield of 2.29%. Bank of America's dividend payout ratio (DPR) is presently 30.95%.

Analysts Set New Price Targets

Several analysts have weighed in on BAC shares. UBS Group upped their price objective on shares of Bank of America from $46.00 to $50.00 and gave the stock a "buy" rating in a research note on Wednesday, April 16th. Robert W. Baird raised shares of Bank of America from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $45.00 to $50.00 in a research note on Friday, March 7th. Evercore ISI decreased their price objective on shares of Bank of America from $51.00 to $48.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 1st. Wall Street Zen cut shares of Bank of America from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, Keefe, Bruyette & Woods decreased their price objective 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. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, Bank of America has a consensus rating of "Moderate Buy" and a consensus target price of $47.69.

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.