Vision Capital Management Inc. Purchases 42,185 Shares of Bank of America Corporation (NYSE:BAC)

Vision Capital Management Inc. raised its stake in shares of Bank of America Corporation (NYSE:BAC - Free Report) by 75.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 98,002 shares of the financial services provider's stock after buying an additional 42,185 shares during the quarter. Vision Capital Management Inc.'s holdings in Bank of America were worth $4,090,000 at the end of the most recent reporting period.

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

Bank of America Stock Down 0.6%

BAC stock traded down $0.26 during trading hours on Friday, hitting $46.71. The company's stock had a trading volume of 31,608,474 shares, compared to its average volume of 40,519,930. The company has a quick ratio of 0.78, a current ratio of 0.79 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $351.81 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 1.28 and a beta of 1.30. Bank of America Corporation has a 12 month low of $33.07 and a 12 month high of $49.31. The stock has a 50 day moving average price of $44.99 and a two-hundred day moving average price of $43.56.

Bank of America (NYSE:BAC - Get Free Report) last posted its earnings results on Tuesday, April 15th. The financial services provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.80 by $0.10. The company had revenue of $27.37 billion during the quarter, compared to the consensus estimate of $26.83 billion. Bank of America had a net margin of 14.56% and a return on equity of 10.25%. On average, equities research analysts expect that Bank of America Corporation will post 3.7 earnings per share for the current year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders 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 is 30.95%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Truist Financial boosted their price objective on shares of Bank of America from $51.00 to $53.00 and gave the company a "buy" rating in a research report on Wednesday. Baird R W lowered shares of Bank of America from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 27th. UBS Group boosted their target price on shares of Bank of America from $46.00 to $50.00 and gave the stock a "buy" rating in a report on Wednesday, April 16th. Cowen initiated coverage on shares of Bank of America in a report on Wednesday, May 14th. They issued a "buy" rating on the stock. Finally, Robert W. Baird restated a "neutral" rating and set a $52.00 price target on shares of Bank of America in a report on Friday, June 27th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.