Mutual of America Capital Management LLC grew its stake in Bank of America Corp (NYSE:BAC) by 0.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,392,038 shares of the financial services provider’s stock after purchasing an additional 6,625 shares during the quarter. Bank of America makes up 0.5% of Mutual of America Capital Management LLC’s holdings, making the stock its 23rd biggest position. Mutual of America Capital Management LLC’s holdings in Bank of America were worth $29,553,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in BAC. Executive Wealth Management LLC acquired a new stake in shares of Bank of America in the fourth quarter valued at about $628,000. J.W. Cole Advisors Inc. acquired a new stake in shares of Bank of America in the fourth quarter valued at about $1,798,000. McKinley Carter Wealth Services Inc. grew its position in shares of Bank of America by 30.3% in the fourth quarter. McKinley Carter Wealth Services Inc. now owns 10,817 shares of the financial services provider’s stock valued at $381,000 after purchasing an additional 2,516 shares during the period. Segment Wealth Management LLC grew its position in shares of Bank of America by 30.4% in the fourth quarter. Segment Wealth Management LLC now owns 16,660 shares of the financial services provider’s stock valued at $587,000 after purchasing an additional 3,887 shares during the period. Finally, Chapman Investment Management LLC acquired a new stake in shares of Bank of America in the fourth quarter valued at about $5,719,000. Institutional investors and hedge funds own 70.08% of the company’s stock.

A number of research firms recently weighed in on BAC. UBS Group boosted their price target on shares of Bank of America from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Wells Fargo & Co lowered their price target on shares of Bank of America from $36.00 to $32.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 1st. Robert W. Baird upgraded shares of Bank of America from a “neutral” rating to an “outperform” rating and set a $34.00 price target on the stock in a research report on Tuesday, March 17th. Goldman Sachs Group upgraded shares of Bank of America from a “neutral” rating to a “buy” rating in a research report on Thursday, April 2nd. Finally, Morgan Stanley lowered their price target on shares of Bank of America from $30.00 to $23.00 and set an “overweight” rating on the stock in a research report on Friday, March 27th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $29.74.

Shares of Bank of America stock traded down $0.24 on Friday, reaching $22.66. The company had a trading volume of 48,083,035 shares, compared to its average volume of 63,654,284. The firm’s 50 day moving average price is $22.58 and its two-hundred day moving average price is $29.41. The firm has a market cap of $198.67 billion, a PE ratio of 9.29, a PEG ratio of 2.22 and a beta of 1.60. Bank of America Corp has a 52-week low of $17.95 and a 52-week high of $35.72. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.91 and a current ratio of 0.92.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.20). The company had revenue of $22.77 billion during the quarter, compared to analysts’ expectations of $22.58 billion. Bank of America had a net margin of 21.64% and a return on equity of 10.64%. Bank of America’s revenue was down 1.0% on a year-over-year basis. During the same period last year, the firm posted $0.70 earnings per share. As a group, sell-side analysts predict that Bank of America Corp will post 1.48 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date is Thursday, June 4th. Bank of America’s dividend payout ratio (DPR) is 24.49%.

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.

Further Reading: What is a put option?

Want to see what other hedge funds are holding BAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of America Corp (NYSE:BAC).

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

Receive News & Ratings for Bank of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of America and related companies with MarketBeat.com's FREE daily email newsletter.