Caz Investments LP bought a new position in shares of Bank of America Corp (NYSE:BAC) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 18,300 shares of the financial services provider’s stock, valued at approximately $389,000. Bank of America accounts for approximately 1.0% of Caz Investments LP’s portfolio, making the stock its 21st largest holding.

Other institutional investors and hedge funds have also modified their holdings of the company. Americana Partners LLC acquired a new stake in Bank of America in the fourth quarter valued at approximately $476,000. TCTC Holdings LLC grew its holdings in Bank of America by 0.7% in the first quarter. TCTC Holdings LLC now owns 1,076,922 shares of the financial services provider’s stock valued at $22,863,000 after purchasing an additional 6,980 shares during the period. Capital Square LLC acquired a new stake in Bank of America in the fourth quarter valued at approximately $323,000. NS Partners Ltd grew its holdings in Bank of America by 2.6% in the fourth quarter. NS Partners Ltd now owns 434,527 shares of the financial services provider’s stock valued at $15,304,000 after purchasing an additional 10,812 shares during the period. Finally, Loews Corp grew its holdings in Bank of America by 1.9% in the fourth quarter. Loews Corp now owns 333,941 shares of the financial services provider’s stock valued at $11,761,000 after purchasing an additional 6,360 shares during the period. 69.26% of the stock is currently owned by institutional investors.

Bank of America stock traded up $0.48 during trading on Monday, reaching $24.60. 48,886,707 shares of the company were exchanged, compared to its average volume of 69,804,120. Bank of America Corp has a 52-week low of $17.95 and a 52-week high of $35.72. The company has a market capitalization of $214.24 billion, a P/E ratio of 10.07, a PEG ratio of 2.33 and a beta of 1.58. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.92 and a quick ratio of 0.91. The stock’s 50 day simple moving average is $23.01 and its two-hundred day simple moving average is $29.10.

Bank of America (NYSE:BAC) last posted its earnings results on Wednesday, April 15th. The financial services provider reported $0.40 EPS for the quarter, missing the Zacks’ 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 business had revenue of $22.77 billion during the quarter, compared to analysts’ expectations of $22.58 billion. During the same quarter in the prior year, the firm earned $0.70 EPS. Bank of America’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, equities analysts forecast that Bank of America Corp will post 1.48 earnings per share for the current year.

The firm also recently announced 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. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $0.72 dividend on an annualized basis and a yield of 2.93%. Bank of America’s dividend payout ratio is currently 24.49%.

BAC has been the topic of several research analyst reports. Barclays reissued a “buy” rating and issued a $33.00 price objective on shares of Bank of America in a report on Thursday, April 9th. Societe Generale upgraded Bank of America from a “sell” rating to a “hold” rating in a research report on Tuesday, April 14th. DA Davidson raised their target price on Bank of America from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Citigroup decreased their target price on Bank of America from $30.00 to $27.00 and set a “hold” rating on the stock in a research report on Friday, March 27th. Finally, Goldman Sachs Group upgraded Bank of America from a “neutral” rating to a “buy” rating in a research report on Thursday, April 2nd. 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. Bank of America presently has a consensus rating of “Hold” and a consensus target price of $29.42.

About Bank of America

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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