Bank of America Co. (NYSE:BAC) shares traded up 1% during trading on Monday . The company traded as high as $37.38 and last traded at $37.35. 9,868,030 shares changed hands during trading, a decline of 76% from the average session volume of 41,348,703 shares. The stock had previously closed at $36.97.
Wall Street Analyst Weigh In
Several research analysts have recently commented on BAC shares. Wolfe Research raised Bank of America from a "peer perform" rating to an "outperform" rating and set a $42.00 price objective for the company in a report on Friday. Evercore ISI upped their price target on shares of Bank of America from $37.00 to $41.00 and gave the company an "outperform" rating in a report on Thursday, April 4th. Erste Group Bank raised shares of Bank of America from a "hold" rating to a "buy" rating in a research note on Wednesday, April 3rd. Citigroup raised their price target on Bank of America from $37.00 to $39.00 and gave the stock a "neutral" rating in a research note on Wednesday, March 20th. Finally, Oppenheimer decreased their price objective on shares of Bank of America from $46.00 to $45.00 and set an "outperform" rating for the company in a report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $38.53.
Check Out Our Latest Research Report on BAC
Bank of America Price Performance
The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.79 and a current ratio of 0.79. The company's fifty day moving average is $35.68 and its two-hundred day moving average is $32.40. The firm has a market cap of $297.87 billion, a price-to-earnings ratio of 13.03, a price-to-earnings-growth ratio of 1.66 and a beta of 1.39.
Bank of America (NYSE:BAC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.06. The business had revenue of $25.82 billion for the quarter, compared to analysts' expectations of $25.49 billion. Bank of America had a net margin of 13.94% and a return on equity of 10.88%. The company's revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.94 earnings per share. Equities research analysts forecast that Bank of America Co. will post 3.17 EPS for the current year.
Bank of America Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 1st were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend was Thursday, February 29th. Bank of America's dividend payout ratio is 33.22%.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the stock. Fortis Group Advisors LLC acquired a new position in shares of Bank of America during the third quarter worth about $25,000. Glass Jacobson Investment Advisors llc lifted its stake in Bank of America by 98.1% in the 3rd quarter. Glass Jacobson Investment Advisors llc now owns 1,018 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 504 shares during the last quarter. Livelsberger Financial Advisory acquired a new position in shares of Bank of America during the 4th quarter worth approximately $28,000. Criterion Capital Advisors LLC bought a new position in Bank of America during the fourth quarter worth $32,000. Finally, Northwest Investment Counselors LLC bought a new position in Bank of America in the 1st quarter valued at about $33,000. 70.71% of the stock is currently owned by institutional investors and hedge funds.
About Bank of America
(
Get 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.
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