Fermata Advisors LLC Buys 7,550 Shares of Bank of America Co. (NYSE:BAC)

Fermata Advisors LLC boosted its holdings in shares of Bank of America Co. (NYSE:BAC) by 115.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,083 shares of the financial services provider's stock after acquiring an additional 7,550 shares during the period. Fermata Advisors LLC's holdings in Bank of America were worth $588,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of BAC. HF Advisory Group LLC boosted its position in Bank of America by 5.4% during the 1st quarter. HF Advisory Group LLC now owns 20,116 shares of the financial services provider's stock worth $839,000 after acquiring an additional 1,023 shares during the last quarter. Bay Rivers Group raised its holdings in shares of Bank of America by 4.2% in the 1st quarter. Bay Rivers Group now owns 13,816 shares of the financial services provider's stock valued at $577,000 after purchasing an additional 560 shares during the period. Secure Asset Management LLC boosted its stake in shares of Bank of America by 538.8% during the 1st quarter. Secure Asset Management LLC now owns 64,211 shares of the financial services provider's stock worth $2,680,000 after acquiring an additional 54,159 shares during the period. Portside Wealth Group LLC increased its holdings in shares of Bank of America by 6.8% in the first quarter. Portside Wealth Group LLC now owns 48,399 shares of the financial services provider's stock valued at $2,127,000 after purchasing an additional 3,073 shares during the last quarter. Finally, Nixon Peabody Trust Co. raised its holdings in Bank of America by 0.8% in the 1st quarter. Nixon Peabody Trust Co. now owns 303,788 shares of the financial services provider's stock valued at $12,677,000 after acquiring an additional 2,397 shares during the period. Institutional investors own 70.71% of the company's stock.

Bank of America Price Performance

Shares of NYSE:BAC opened at $44.35 on Friday. Bank of America Co. has a 1-year low of $33.07 and a 1-year high of $48.08. The stock has a market cap of $334.05 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 1.21 and a beta of 1.27. The stock's fifty day simple moving average is $40.64 and its two-hundred day simple moving average is $43.51. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04.

Bank of America (NYSE:BAC - Get Free Report) last released its earnings results on Tuesday, April 15th. The financial services provider reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.80 by $0.10. The company 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 10.29% and a net margin of 14.10%. As a group, analysts forecast that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 6th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Friday, June 6th. Bank of America's dividend payout ratio (DPR) is presently 30.95%.

Analyst Ratings Changes

BAC has been the subject of a number of research reports. JPMorgan Chase & Co. dropped their target price on Bank of America from $49.50 to $43.50 and set an "overweight" rating for the company in a report on Thursday, April 3rd. UBS Group boosted 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 note on Wednesday, April 16th. Cfra Research upped their price objective on Bank of America to $47.00 and gave the company a "buy" rating in a research note on Wednesday, April 16th. Citigroup lowered their target price on Bank of America from $54.00 to $50.00 and set a "buy" rating for the company in a research report on Monday, March 24th. Finally, Cowen started coverage on shares of Bank of America in a research report on Wednesday, May 14th. They issued a "buy" rating on the stock. Two research analysts have rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $47.50.

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.

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