Graybill Wealth Management LTD. bought a new position in Bank of America Corporation (NYSE:BAC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 92,791 shares of the financial services provider's stock, valued at approximately $3,872,000.
Other institutional investors have also recently made changes to their positions in the company. Graney & King LLC purchased a new position in Bank of America in the 4th quarter worth about $25,000. Vega Investment Solutions purchased a new position in Bank of America in the 4th quarter worth about $30,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Bank of America in the 4th quarter worth about $31,000. Spurstone Advisory Services LLC purchased a new position in Bank of America in the 4th quarter worth about $34,000. Finally, Glass Jacobson Investment Advisors llc increased its stake in Bank of America by 53.0% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 797 shares of the financial services provider's stock worth $35,000 after buying an additional 276 shares during the period. Institutional investors own 70.71% of the company's stock.
Bank of America Trading Down 2.1%
Shares of BAC traded down $0.98 during mid-day trading on Tuesday, reaching $46.09. The stock had a trading volume of 55,093,267 shares, compared to its average volume of 40,612,006. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.79 and a quick ratio of 0.78. Bank of America Corporation has a 52-week low of $33.07 and a 52-week high of $49.31. The business's fifty day moving average is $45.21 and its 200 day moving average is $43.58. The firm has a market cap of $347.14 billion, a price-to-earnings ratio of 13.72, a P/E/G ratio of 1.28 and a beta of 1.30.
Bank of America (NYSE:BAC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.80 by $0.10. Bank of America had a net margin of 14.56% and a return on equity of 10.25%. The firm had revenue of $27.37 billion during the quarter, compared to analyst estimates of $26.83 billion. On average, sell-side analysts predict that Bank of America Corporation will post 3.7 EPS for the current fiscal year.
Bank of America Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 6th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend was Friday, June 6th. Bank of America's dividend payout ratio (DPR) is presently 30.95%.
Wall Street Analyst Weigh In
Several research analysts recently commented on the stock. Hsbc Global Res downgraded shares of Bank of America from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 8th. Oppenheimer restated an "outperform" rating on shares of Bank of America in a report on Thursday, May 22nd. Argus reduced their price target on shares of Bank of America from $53.00 to $47.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Truist Financial lifted their price objective on shares of Bank of America from $51.00 to $53.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Finally, Barclays cut their price objective on shares of Bank of America from $58.00 to $54.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Bank of America presently has an average rating of "Moderate Buy" and an average price target of $48.89.
View Our Latest Stock Analysis on BAC
Bank of America Profile
(
Free Report)
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.
Recommended Stories
Before you consider Bank of America, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Bank of America wasn't on the list.
While Bank of America currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
