Bank of America Corporation (NYSE:BAC) Stock Holdings Lifted by OneAscent Family Office LLC

OneAscent Family Office LLC boosted its stake in Bank of America Corporation (NYSE:BAC - Free Report) by 122.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,168 shares of the financial services provider's stock after purchasing an additional 10,000 shares during the quarter. OneAscent Family Office LLC's holdings in Bank of America were worth $758,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. TAGStone Capital Inc. lifted its holdings in Bank of America by 1.2% during the fourth quarter. TAGStone Capital Inc. now owns 19,802 shares of the financial services provider's stock valued at $870,000 after purchasing an additional 227 shares in the last quarter. Hayek Kallen Investment Management grew its holdings in shares of Bank of America by 2.0% in the fourth quarter. Hayek Kallen Investment Management now owns 12,022 shares of the financial services provider's stock valued at $528,000 after purchasing an additional 233 shares in the last quarter. Continuum Advisory LLC lifted its stake in Bank of America by 1.4% in the fourth quarter. Continuum Advisory LLC now owns 16,707 shares of the financial services provider's stock worth $734,000 after acquiring an additional 237 shares during the last quarter. Menard Financial Group LLC lifted its stake in Bank of America by 1.2% in the fourth quarter. Menard Financial Group LLC now owns 20,620 shares of the financial services provider's stock worth $906,000 after acquiring an additional 240 shares during the last quarter. Finally, Northern Financial Advisors Inc lifted its position in shares of Bank of America by 1.8% during the 1st quarter. Northern Financial Advisors Inc now owns 14,383 shares of the financial services provider's stock worth $600,000 after buying an additional 252 shares during the last quarter. Institutional investors and hedge funds own 70.71% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on BAC shares. Royal Bank Of Canada set a $53.00 price target on shares of Bank of America and gave the stock an "outperform" rating in a research report on Monday, June 30th. Evercore ISI decreased their price objective on shares of Bank of America from $51.00 to $48.00 and set an "outperform" rating for the company in a report on Tuesday, April 1st. Phillip Securities raised shares of Bank of America from a "moderate buy" rating to a "strong-buy" rating in a report on Thursday, April 17th. 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, June 27th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Bank of America from $55.00 to $52.00 and set an "outperform" rating for the company in a report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Bank of America currently has an average rating of "Moderate Buy" and a consensus target price of $50.03.

Bank of America Stock Performance

Shares of BAC traded up $0.43 on Tuesday, reaching $47.91. 20,265,571 shares of the company's stock traded hands, compared to its average volume of 40,393,673. The company has a current ratio of 0.80, a quick ratio of 0.79 and a debt-to-equity ratio of 1.14. The stock has a market cap of $360.81 billion, a PE ratio of 14.01, a PEG ratio of 1.29 and a beta of 1.30. Bank of America Corporation has a 52-week low of $33.07 and a 52-week high of $49.31. The stock's 50 day simple moving average is $45.53 and its two-hundred day simple moving average is $43.64.

Bank of America (NYSE:BAC - Get Free Report) last announced its earnings results on Wednesday, July 16th. The financial services provider reported $0.89 EPS for the quarter, topping analysts' consensus estimates of $0.86 by $0.03. The company had revenue of ($22,273.00) million for the quarter, compared to analysts' expectations of $26.79 billion. Bank of America had a return on equity of 10.25% and a net margin of 14.81%. Bank of America's revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period last year, the firm earned $0.83 EPS. On average, analysts forecast that Bank of America Corporation will post 3.7 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 6th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date was Friday, June 6th. Bank of America's dividend payout ratio is presently 30.41%.

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.