Joel Isaacson & Co. LLC Acquires 5,345 Shares of Bank of America Corporation (NYSE:BAC)

Joel Isaacson & Co. LLC increased its stake in Bank of America Corporation (NYSE:BAC - Free Report) by 6.4% during the first quarter, according to its most recent filing with the SEC. The fund owned 89,008 shares of the financial services provider's stock after buying an additional 5,345 shares during the quarter. Joel Isaacson & Co. LLC's holdings in Bank of America were worth $3,714,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in BAC. Graney & King LLC bought a new position in shares of Bank of America during the 4th quarter valued at approximately $25,000. Fairway Wealth LLC purchased a new position in Bank of America in the fourth quarter valued at approximately $29,000. Vega Investment Solutions purchased a new position in Bank of America in the fourth quarter valued at approximately $30,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in Bank of America during the fourth quarter valued at $31,000. Finally, Spurstone Advisory Services LLC purchased a new stake in Bank of America in the fourth quarter worth $34,000. Institutional investors own 70.71% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. TD Cowen started coverage on Bank of America in a report on Thursday, May 15th. They issued a "buy" rating and a $53.00 price objective for the company. Evercore ISI lowered their price target on shares of Bank of America from $51.00 to $48.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 1st. Robert W. Baird reaffirmed a "neutral" rating and issued a $52.00 price objective on shares of Bank of America in a report on Friday. Truist Financial reduced their price objective on shares of Bank of America from $50.00 to $47.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Finally, Cfra Research increased their target price on Bank of America to $47.00 and gave the stock a "buy" rating in a research report on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $47.65.

Bank of America Price Performance

Shares of BAC stock traded up $0.19 during trading hours on Monday, hitting $47.31. 47,917,208 shares of the company's stock were exchanged, compared to its average volume of 39,958,447. The company has a market capitalization of $356.33 billion, a PE ratio of 14.08, a PEG ratio of 1.28 and a beta of 1.30. The company has a current ratio of 0.79, a quick ratio of 0.78 and a debt-to-equity ratio of 1.11. Bank of America Corporation has a 12-month low of $33.07 and a 12-month high of $48.08. The business's 50 day simple moving average is $43.31 and its 200-day simple moving average is $43.31.

Bank of America (NYSE:BAC - Get Free Report) last issued 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 net margin of 14.56% and a return on equity of 10.25%. On average, equities research analysts anticipate that Bank of America Corporation will post 3.7 earnings per share for the current year.

Bank of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 6th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.20%. The ex-dividend date was Friday, June 6th. 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.