QV Investors Inc. Has $859,000 Holdings in Bank of America Co. (NYSE:BAC)

QV Investors Inc. decreased its stake in Bank of America Co. (NYSE:BAC - Free Report) by 85.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,580 shares of the financial services provider's stock after selling 122,660 shares during the period. QV Investors Inc.'s holdings in Bank of America were worth $859,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Fiduciary Alliance LLC boosted its holdings in shares of Bank of America by 4.8% in the 1st quarter. Fiduciary Alliance LLC now owns 58,722 shares of the financial services provider's stock valued at $2,450,000 after buying an additional 2,708 shares in the last quarter. Wright Investors Service Inc. boosted its stake in Bank of America by 12.0% during the 1st quarter. Wright Investors Service Inc. now owns 96,763 shares of the financial services provider's stock worth $4,038,000 after purchasing an additional 10,346 shares during the period. American National Bank & Trust boosted its stake in Bank of America by 2.2% during the 1st quarter. American National Bank & Trust now owns 26,989 shares of the financial services provider's stock worth $1,126,000 after purchasing an additional 580 shares during the period. Iowa State Bank lifted its stake in shares of Bank of America by 6.7% in the 1st quarter. Iowa State Bank now owns 96,036 shares of the financial services provider's stock worth $4,008,000 after acquiring an additional 6,020 shares during the period. Finally, Czech National Bank lifted its stake in shares of Bank of America by 5.1% in the 1st quarter. Czech National Bank now owns 1,520,845 shares of the financial services provider's stock worth $63,465,000 after acquiring an additional 73,485 shares during the period. Institutional investors and hedge funds own 70.71% of the company's stock.

Bank of America Stock Up 0.4%

NYSE BAC traded up $0.17 during trading on Thursday, hitting $44.53. The stock had a trading volume of 13,474,538 shares, compared to its average volume of 39,660,356. The company has a market capitalization of $335.39 billion, a PE ratio of 13.83, a P/E/G ratio of 1.21 and a beta of 1.27. The company's 50-day moving average price is $40.59 and its two-hundred day moving average price is $43.52. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. Bank of America Co. has a 12 month low of $33.07 and a 12 month high of $48.08.

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, topping analysts' consensus estimates of $0.80 by $0.10. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The company had revenue of $27.37 billion for the quarter, compared to analysts' expectations of $26.83 billion. As a group, sell-side analysts forecast that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend is Friday, June 6th. Bank of America's dividend payout ratio (DPR) is presently 30.95%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Cowen assumed coverage on shares of Bank of America in a research note on Wednesday, May 14th. They issued a "buy" rating for the company. TD Cowen assumed coverage on shares of Bank of America in a research note on Thursday, May 15th. They issued a "buy" rating and a $53.00 target price for the company. Argus reduced their target price on shares of Bank of America from $53.00 to $47.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Evercore ISI reduced their target price on shares of Bank of America from $51.00 to $48.00 and set an "outperform" rating for the company in a research note on Tuesday, April 1st. Finally, 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. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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.