Bank of America Co. (NYSE:BAC) is Community Bank of Raymore’s 4th Largest Position

Community Bank of Raymore reduced its position in shares of Bank of America Co. (NYSE:BAC) by 9.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 293,256 shares of the financial services provider’s stock after selling 30,080 shares during the period. Bank of America comprises approximately 5.2% of Community Bank of Raymore’s portfolio, making the stock its 4th largest position. Community Bank of Raymore’s holdings in Bank of America were worth $11,120,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Fortis Group Advisors LLC purchased a new stake in shares of Bank of America in the third quarter valued at about $25,000. Livelsberger Financial Advisory purchased a new stake in shares of Bank of America in the fourth quarter valued at about $28,000. Criterion Capital Advisors LLC purchased a new stake in shares of Bank of America in the fourth quarter valued at about $32,000. Northwest Investment Counselors LLC purchased a new stake in shares of Bank of America in the first quarter valued at about $33,000. Finally, Mark Sheptoff Financial Planning LLC raised its holdings in shares of Bank of America by 431.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 1,062 shares of the financial services provider’s stock valued at $36,000 after buying an additional 862 shares during the last quarter. 70.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Wolfe Research raised shares of Bank of America from a “peer perform” rating to an “outperform” rating and set a $42.00 target price for the company in a report on Friday, April 19th. BMO Capital Markets increased their price objective on shares of Bank of America from $36.00 to $37.00 and gave the stock a “market perform” rating in a research report on Thursday, April 18th. Wells Fargo & Company raised their price target on shares of Bank of America from $40.00 to $44.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Erste Group Bank raised shares of Bank of America from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Finally, HSBC reissued a “hold” rating and set a $39.00 price objective (up from $38.00) on shares of Bank of America in a report on Thursday, March 28th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $39.79.

Check Out Our Latest Report on Bank of America

Bank of America Stock Performance

BAC stock traded down $0.43 on Wednesday, reaching $38.95. 10,188,084 shares of the company were exchanged, compared to its average volume of 38,658,188. Bank of America Co. has a 12 month low of $24.96 and a 12 month high of $40.34. The stock’s fifty day moving average price is $38.71 and its 200 day moving average price is $35.95. The firm has a market capitalization of $304.60 billion, a PE ratio of 13.63, a PEG ratio of 1.53 and a beta of 1.36. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.79 and a quick ratio of 0.79.

Bank of America (NYSE:BACGet Free Report) last announced its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. Bank of America had a net margin of 13.94% and a return on equity of 10.88%. The company had revenue of $25.82 billion during the quarter, compared to analysts’ expectations of $25.49 billion. During the same quarter in the prior year, the company posted $0.94 EPS. The business’s revenue was down 1.7% on a year-over-year basis. On average, research analysts anticipate that Bank of America Co. will post 3.22 EPS for the current fiscal year.

Bank of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend is Friday, June 7th. Bank of America’s dividend payout ratio is 33.22%.

Bank of America Company Profile

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

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