Kintegral Advisory LLC Sells 47,944 Shares of Bank of America Corporation (NYSE:BAC)

Kintegral Advisory LLC reduced its holdings in shares of Bank of America Corporation (NYSE:BAC - Free Report) by 32.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 97,757 shares of the financial services provider's stock after selling 47,944 shares during the quarter. Kintegral Advisory LLC's holdings in Bank of America were worth $4,079,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of BAC. Brighton Jones LLC increased its holdings in Bank of America by 30.0% during the fourth quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider's stock worth $4,785,000 after buying an additional 25,143 shares during the last quarter. Bank Pictet & Cie Europe AG grew its position in shares of Bank of America by 35.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 860,005 shares of the financial services provider's stock valued at $37,797,000 after acquiring an additional 226,246 shares during the period. NewSquare Capital LLC purchased a new stake in shares of Bank of America during the 4th quarter worth approximately $59,000. Proficio Capital Partners LLC increased its stake in shares of Bank of America by 65.3% during the 4th quarter. Proficio Capital Partners LLC now owns 20,252 shares of the financial services provider's stock worth $890,000 after purchasing an additional 7,999 shares during the last quarter. Finally, Cullen Frost Bankers Inc. raised its holdings in shares of Bank of America by 3.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 990,642 shares of the financial services provider's stock worth $43,539,000 after purchasing an additional 29,015 shares during the period. 70.71% of the stock is currently owned by institutional investors.

Bank of America Price Performance

Shares of BAC traded up $0.23 during trading hours on Friday, reaching $48.94. 21,620,278 shares of the company's stock traded hands, compared to its average volume of 40,113,109. The firm's 50 day simple moving average is $44.10 and its 200-day simple moving average is $43.42. The stock has a market cap of $368.61 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 1.33 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 $49.31.

Bank of America (NYSE:BAC - Get Free Report) last issued its quarterly 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 firm 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%. Equities analysts expect that Bank of America Corporation will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 6th were paid a $0.26 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.04 dividend on an annualized basis and a yield of 2.13%. Bank of America's dividend payout ratio is presently 30.95%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on BAC shares. Royal Bank Of Canada set a $53.00 target price on Bank of America and gave the stock an "outperform" rating in a research report on Monday. Baird R W lowered Bank of America from a "strong-buy" rating to a "hold" rating in a report on Friday, June 27th. Argus dropped their price objective on shares of Bank of America from $53.00 to $47.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Truist Financial reduced their target price 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, UBS Group upped their price target on shares of Bank of America from $46.00 to $50.00 and gave the company a "buy" rating in a research note on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $48.28.

About Bank of America

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.