Versant Capital Management Inc grew its holdings in Bank of America Co. (NYSE:BAC - Free Report) by 46.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,243 shares of the financial services provider's stock after purchasing an additional 5,807 shares during the quarter. Versant Capital Management Inc's holdings in Bank of America were worth $761,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the company. Hobart Private Capital LLC acquired a new stake in Bank of America during the first quarter worth approximately $207,000. MassMutual Private Wealth & Trust FSB boosted its position in Bank of America by 1.5% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 704,029 shares of the financial services provider's stock worth $29,379,000 after acquiring an additional 10,205 shares during the last quarter. Fire Capital Management LLC acquired a new stake in Bank of America during the fourth quarter worth approximately $377,000. Mascagni Wealth Management Inc. purchased a new position in Bank of America during the fourth quarter worth approximately $40,000. Finally, DSG Capital Advisors LLC purchased a new position in Bank of America during the fourth quarter worth approximately $6,753,000. Institutional investors and hedge funds own 70.71% of the company's stock.
Bank of America Price Performance
Shares of NYSE BAC traded down $0.10 during midday trading on Friday, reaching $44.14. The company's stock had a trading volume of 66,528,527 shares, compared to its average volume of 39,868,388. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. The company has a 50 day moving average price of $40.46 and a 200 day moving average price of $43.56. Bank of America Co. has a one year low of $33.07 and a one year high of $48.08. The company has a market cap of $332.46 billion, a price-to-earnings ratio of 13.71, a price-to-earnings-growth ratio of 1.21 and a beta of 1.27.
Bank of America (NYSE:BAC - Get Free Report) last released its 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. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The business had revenue of $27.37 billion for the quarter, compared to the consensus estimate of $26.83 billion. On average, equities research analysts expect that Bank of America Co. will post 3.7 EPS for the current year.
Bank of America Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors 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 dividend yield of 2.36%. Bank of America's payout ratio is currently 30.95%.
Analyst Ratings Changes
A number of equities analysts have weighed in on the stock. UBS Group increased 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. Phillip Securities raised shares of Bank of America from a "moderate buy" rating to a "strong-buy" rating in a research note on Thursday, April 17th. Robert W. Baird raised shares of Bank of America from a "neutral" rating to an "outperform" rating and raised their target price for the company from $45.00 to $50.00 in a research note on Friday, March 7th. Cowen began coverage on shares of Bank of America in a research note on Wednesday, May 14th. They issued a "buy" rating on the stock. Finally, Baird R W raised shares of Bank of America from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 7th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, Bank of America presently has a consensus rating of "Moderate Buy" and an average price target of $47.50.
Read Our Latest Research Report on BAC
About Bank of America
(
Free Report)
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.
See Also
Before you consider Bank of America, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Bank of America wasn't on the list.
While Bank of America currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat's analysts have just released their top five short plays for June 2025. Learn which stocks have the most short interest and how to trade them. Enter your email address to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
