Simon Quick Advisors LLC Raises Holdings in Bank of America Co. (NYSE:BAC)

Simon Quick Advisors LLC boosted its stake in Bank of America Co. (NYSE:BAC - Free Report) by 11.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 445,157 shares of the financial services provider's stock after acquiring an additional 47,036 shares during the period. Bank of America accounts for approximately 1.1% of Simon Quick Advisors LLC's holdings, making the stock its 18th biggest holding. Simon Quick Advisors LLC's holdings in Bank of America were worth $18,576,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Life Planning Partners Inc boosted its holdings in shares of Bank of America by 3,883.2% during the 4th quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider's stock valued at $25,000 after buying an additional 545,936 shares in the last quarter. Graney & King LLC bought a new stake in shares of Bank of America during the 4th quarter valued at $25,000. Fairway Wealth LLC bought a new stake in shares of Bank of America during the 4th quarter valued at $29,000. Vega Investment Solutions bought a new stake in shares of Bank of America during the 4th quarter valued at $30,000. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new position in Bank of America in the 4th quarter worth about $31,000. Institutional investors own 70.71% of the company's stock.

Analyst Upgrades and Downgrades

BAC has been the topic of a number of analyst reports. The Goldman Sachs Group upped their price target on shares of Bank of America from $46.00 to $52.00 and gave the stock a "buy" rating in a research note on Tuesday. UBS Group upped their price target on shares of Bank of America from $46.00 to $50.00 and gave the stock a "buy" rating in a research note on Wednesday, April 16th. Oppenheimer reiterated an "outperform" rating on shares of Bank of America in a research note on Thursday, May 22nd. Argus lowered their target price on shares of Bank of America from $53.00 to $47.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Finally, Piper Sandler lowered their target price on shares of Bank of America from $45.00 to $42.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, Bank of America presently has a consensus rating of "Moderate Buy" and a consensus target price of $47.69.

Bank of America Stock Down 0.3%

Shares of BAC stock traded down $0.12 on Thursday, hitting $44.61. The stock had a trading volume of 30,103,862 shares, compared to its average volume of 39,738,327. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. The business has a 50 day moving average price of $41.14 and a 200 day moving average price of $43.46. The company has a market cap of $336.00 billion, a PE ratio of 13.85, a P/E/G ratio of 1.21 and a beta of 1.30. Bank of America Co. has a one year low of $33.07 and a one year high of $48.08.

Bank of America (NYSE:BAC - Get Free Report) last released its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.10. The firm had revenue of $27.37 billion during the quarter, compared to the consensus estimate of $26.83 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. Research analysts anticipate that Bank of America Co. will post 3.7 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 6th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.04 dividend on an annualized basis and a yield of 2.33%. Bank of America's dividend payout ratio is presently 30.95%.

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.