Bank of America (NYSE:BAC) Shares Bought by Allen Capital Group LLC

Allen Capital Group LLC grew its position in shares of Bank of America (NYSE:BAC) by 25.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,099 shares of the financial services provider’s stock after buying an additional 5,991 shares during the quarter. Allen Capital Group LLC’s holdings in Bank of America were worth $873,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the business. FDx Advisors Inc. raised its holdings in Bank of America by 6.0% in the third quarter. FDx Advisors Inc. now owns 340,588 shares of the financial services provider’s stock worth $8,631,000 after purchasing an additional 19,396 shares during the period. Bingham Osborn & Scarborough LLC increased its stake in Bank of America by 2.6% in the 3rd quarter. Bingham Osborn & Scarborough LLC now owns 89,346 shares of the financial services provider’s stock valued at $2,264,000 after buying an additional 2,225 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH grew its position in shares of Bank of America by 4.8% in the 3rd quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 1,207,972 shares of the financial services provider’s stock valued at $30,838,000 after acquiring an additional 55,280 shares during the period. R. G. Niederhoffer Capital Management Inc. bought a new position in shares of Bank of America in the 3rd quarter valued at about $304,000. Finally, Cliftonlarsonallen Wealth Advisors LLC grew its position in shares of Bank of America by 4.0% in the 3rd quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 82,110 shares of the financial services provider’s stock valued at $2,081,000 after acquiring an additional 3,183 shares during the period. 69.87% of the stock is currently owned by hedge funds and other institutional investors.

Bank of America opened at $30.81 on Friday, according to Marketbeat Ratings. Bank of America has a 52-week low of $31.02 and a 52-week high of $31.24. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.92 and a quick ratio of 0.91. The stock has a market cap of $318.17 billion, a P/E ratio of 16.84, a P/E/G ratio of 1.52 and a beta of 1.37.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Monday, April 16th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. Bank of America had a net margin of 19.65% and a return on equity of 9.40%. The business had revenue of $23.10 billion during the quarter, compared to the consensus estimate of $23.04 billion. During the same quarter last year, the company posted $0.41 earnings per share. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. equities research analysts anticipate that Bank of America will post 2.55 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 1st will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, May 31st. This represents a $0.48 dividend on an annualized basis and a yield of 1.56%. Bank of America’s dividend payout ratio (DPR) is presently 26.23%.

BAC has been the subject of several research analyst reports. Barclays lifted their target price on shares of Bank of America from $35.00 to $37.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 17th. Vetr cut shares of Bank of America from a “hold” rating to a “sell” rating and set a $28.21 target price for the company. in a research report on Tuesday, February 13th. Royal Bank of Canada upped their price objective on shares of Bank of America to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, January 18th. ValuEngine lowered shares of Bank of America from a “buy” rating to a “hold” rating in a report on Wednesday, April 18th. Finally, Zacks Investment Research lowered shares of Bank of America from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th. Nine equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Bank of America has a consensus rating of “Buy” and a consensus price target of $32.13.

Bank of America 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 through four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.

Institutional Ownership by Quarter for Bank of America (NYSE:BAC)

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