TFR Capital LLC. Has $809,000 Position in Bank of America Corporation (NYSE:BAC)

TFR Capital LLC. boosted its holdings in shares of Bank of America Corporation (NYSE:BAC - Free Report) by 87.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,392 shares of the financial services provider's stock after acquiring an additional 9,031 shares during the quarter. TFR Capital LLC.'s holdings in Bank of America were worth $809,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Graney & King LLC bought a new stake in Bank of America in the fourth quarter worth $25,000. Vega Investment Solutions bought a new position in Bank of America during the fourth quarter valued at about $30,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Bank of America in the fourth quarter worth about $31,000. Spurstone Advisory Services LLC bought a new stake in shares of Bank of America during the 4th quarter worth about $34,000. Finally, Glass Jacobson Investment Advisors llc increased its holdings in shares of Bank of America by 53.0% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 797 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 276 shares during the last quarter. Institutional investors own 70.71% of the company's stock.

Bank of America Stock Performance

Shares of NYSE BAC traded down $0.26 during trading hours on Friday, reaching $46.71. The stock had a trading volume of 31,608,474 shares, compared to its average volume of 40,554,722. The company has a market cap of $351.81 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 1.27 and a beta of 1.30. Bank of America Corporation has a twelve month low of $33.07 and a twelve month high of $49.31. The business's fifty day moving average is $44.99 and its two-hundred day moving average is $43.56. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.79 and a quick ratio of 0.78.

Bank of America (NYSE:BAC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. As a group, research analysts expect that Bank of America Corporation will post 3.7 EPS for the current year.

Bank of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 6th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.23%. The ex-dividend date was Friday, June 6th. Bank of America's dividend payout ratio (DPR) is presently 30.95%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BAC shares. Keefe, Bruyette & Woods reduced their target price on Bank of America from $55.00 to $52.00 and set an "outperform" rating for the company in a report on Wednesday, April 16th. Truist Financial boosted their price objective on shares of Bank of America from $51.00 to $53.00 and gave the stock a "buy" rating in a research note on Wednesday. Wall Street Zen lowered shares of Bank of America from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Morgan Stanley boosted their target price on shares of Bank of America from $47.00 to $49.00 and gave the stock an "overweight" rating in a research report on Monday, June 23rd. Finally, Hsbc Global Res cut shares of Bank of America from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 8th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $48.89.

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.