Shares of Bank of America Corp (NYSE:BAC) have received an average recommendation of “Hold” from the seventeen analysts that are covering the company, MarketBeat reports. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $33.78.
A number of equities analysts recently commented on BAC shares. UBS Group set a $33.00 price objective on shares of Bank of America and gave the stock a “buy” rating in a research note on Saturday, February 2nd. HSBC started coverage on shares of Bank of America in a research note on Thursday, April 4th. They issued a “hold” rating and a $29.00 price objective for the company. Barclays reissued a “hold” rating on shares of Bank of America in a research note on Thursday, January 17th. ValuEngine downgraded shares of Bank of America from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Finally, BMO Capital Markets boosted 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 note on Wednesday.
Shares of Bank of America stock remained flat at $$30.03 on Friday. 61,796,624 shares of the stock traded hands, compared to its average volume of 63,574,609. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.94. Bank of America has a 1 year low of $22.66 and a 1 year high of $31.91. The company has a market capitalization of $307.62 billion, a P/E ratio of 11.51, a PEG ratio of 1.31 and a beta of 1.47.
The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 1st were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.00%. The ex-dividend date was Thursday, February 28th. Bank of America’s dividend payout ratio is currently 22.99%.
In other Bank of America news, insider Dean C. Athanasia sold 129,615 shares of Bank of America stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $29.78, for a total value of $3,859,934.70. Following the transaction, the insider now directly owns 243,617 shares of the company’s stock, valued at $7,254,914.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CRA Financial Services LLC purchased a new stake in shares of Bank of America during the fourth quarter valued at $1,320,000. PGGM Investments purchased a new stake in shares of Bank of America during the fourth quarter valued at $128,471,000. Fosun International Ltd grew its holdings in shares of Bank of America by 333.9% during the fourth quarter. Fosun International Ltd now owns 40,783 shares of the financial services provider’s stock valued at $1,005,000 after buying an additional 31,383 shares during the last quarter. Sunesis Advisors LLC purchased a new stake in shares of Bank of America during the fourth quarter valued at $268,000. Finally, First Citizens Bank & Trust Co. grew its holdings in shares of Bank of America by 1.0% during the fourth quarter. First Citizens Bank & Trust Co. now owns 311,732 shares of the financial services provider’s stock valued at $7,681,000 after buying an additional 2,994 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.
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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