Fulton Bank N.A. Has $5.72 Million Stock Holdings in Bank of America Co. (NYSE:BAC)

Fulton Bank N.A. reduced its position in shares of Bank of America Co. (NYSE:BAC - Free Report) by 7.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 137,144 shares of the financial services provider's stock after selling 11,831 shares during the period. Fulton Bank N.A.'s holdings in Bank of America were worth $5,723,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Collier Financial acquired a new position in shares of Bank of America in the 4th quarter valued at about $25,000. Life Planning Partners Inc grew its stake in Bank of America by 3,883.2% during the 4th quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 545,936 shares in the last quarter. Graney & King LLC bought a new stake in shares of Bank of America in the fourth quarter worth $25,000. Fairway Wealth LLC acquired a new position in Bank of America in the fourth quarter worth about $29,000. Finally, Vega Investment Solutions bought a new position in Bank of America during the fourth quarter worth $30,000. Hedge funds and other institutional investors own 70.71% of the company's stock.

Bank of America Price Performance

Shares of BAC stock traded down $0.01 during trading hours on Thursday, hitting $44.35. The company had a trading volume of 31,604,427 shares, compared to its average volume of 39,729,672. Bank of America Co. has a 12 month low of $33.07 and a 12 month high of $48.08. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. The firm's fifty day moving average is $40.59 and its 200 day moving average is $43.52. The firm has a market capitalization of $334.05 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 1.21 and a beta of 1.27.

Bank of America (NYSE:BAC - Get Free Report) last announced 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. The firm 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%. On average, sell-side analysts predict that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend is Friday, June 6th. Bank of America's dividend payout ratio is currently 30.95%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on BAC shares. Piper Sandler cut their price objective on shares of Bank of America from $45.00 to $42.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Cowen initiated coverage on Bank of America in a research report on Wednesday, May 14th. They set a "buy" rating for the company. Phillip Securities upgraded shares of Bank of America from a "moderate buy" rating to a "strong-buy" rating in a research report on Thursday, April 17th. Oppenheimer reaffirmed an "outperform" rating on shares of Bank of America in a research note on Thursday, May 22nd. Finally, Barclays reduced their price objective on Bank of America from $58.00 to $54.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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.