CSat Investment Advisory L.P. raised its stake in shares of Bank of America Corp (NYSE:BAC) by 21.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 62,873 shares of the financial services provider’s stock after buying an additional 11,050 shares during the quarter. CSat Investment Advisory L.P.’s holdings in Bank of America were worth $1,335,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Americana Partners LLC acquired a new stake in Bank of America during the 4th quarter valued at $476,000. Capital Square LLC acquired a new stake in shares of Bank of America during the fourth quarter worth $323,000. TCTC Holdings LLC boosted its holdings in shares of Bank of America by 0.7% during the first quarter. TCTC Holdings LLC now owns 1,076,922 shares of the financial services provider’s stock worth $22,863,000 after purchasing an additional 6,980 shares during the last quarter. NS Partners Ltd boosted its holdings in shares of Bank of America by 2.6% during the fourth quarter. NS Partners Ltd now owns 434,527 shares of the financial services provider’s stock worth $15,304,000 after purchasing an additional 10,812 shares during the last quarter. Finally, Loews Corp boosted its holdings in shares of Bank of America by 1.9% during the fourth quarter. Loews Corp now owns 333,941 shares of the financial services provider’s stock worth $11,761,000 after purchasing an additional 6,360 shares during the last quarter. Hedge funds and other institutional investors own 69.15% of the company’s stock.

NYSE:BAC traded down $0.48 during mid-day trading on Friday, hitting $24.38. The company had a trading volume of 32,014,042 shares, compared to its average volume of 65,237,976. The business has a fifty day simple moving average of $22.96 and a 200-day simple moving average of $29.15. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 1.06. Bank of America Corp has a 1 year low of $17.95 and a 1 year high of $35.72. The firm has a market capitalization of $225.39 billion, a price-to-earnings ratio of 10.06, a PEG ratio of 2.51 and a beta of 1.60.

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

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.95%. The ex-dividend date is Thursday, June 4th. Bank of America’s dividend payout ratio (DPR) is presently 24.49%.

Several equities research analysts have recently issued reports on BAC shares. UBS Group raised their price objective on Bank of America from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Goldman Sachs Group upgraded Bank of America from a “neutral” rating to a “buy” rating in a report on Thursday, April 2nd. TheStreet cut Bank of America from a “b-” rating to a “c” rating in a report on Wednesday, March 25th. Piper Sandler decreased their price objective on Bank of America from $40.00 to $27.00 and set an “overweight” rating on the stock in a report on Friday, April 3rd. Finally, Citigroup reduced their target price on Bank of America from $30.00 to $27.00 and set a “hold” rating on the stock in a report on Friday, March 27th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $29.42.

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 through 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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