Bank of America Co. (NYSE:BAC) Shares Bought by Impact Capital Partners LLC

Impact Capital Partners LLC boosted its holdings in shares of Bank of America Co. (NYSE:BAC) by 5.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,606 shares of the financial services provider’s stock after purchasing an additional 465 shares during the period. Impact Capital Partners LLC’s holdings in Bank of America were worth $401,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BAC. Collier Financial acquired a new stake in Bank of America during the fourth quarter valued at approximately $25,000. Life Planning Partners Inc lifted its stake in Bank of America by 3,883.2% during the fourth quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 545,936 shares during the last quarter. Graney & King LLC acquired a new stake in Bank of America during the fourth quarter valued at approximately $25,000. Fairway Wealth LLC acquired a new stake in Bank of America during the fourth quarter valued at approximately $29,000. Finally, Vega Investment Solutions acquired a new stake in Bank of America during the fourth quarter valued at approximately $30,000. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America Stock Performance

BAC stock opened at $45.01 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $339.01 billion, a price-to-earnings ratio of 13.98, a P/E/G ratio of 1.21 and a beta of 1.30. Bank of America Co. has a 12 month low of $33.07 and a 12 month high of $48.08. The firm has a 50 day moving average of $40.71 and a two-hundred day moving average of $43.48.

Bank of America (NYSE:BAC) last posted its earnings results on Tuesday, April 15th. The financial services provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.80 by $0.10. The company had revenue of $27.37 billion during the quarter, compared to the consensus estimate of $26.83 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. As a group, equities analysts anticipate that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 6th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.31%. The ex-dividend date is Friday, June 6th. Bank of America’s dividend payout ratio is 30.95%.

Analysts Set New Price Targets

Several analysts recently commented on BAC shares. TD Cowen began coverage on shares of Bank of America in a research note on Thursday, May 15th. They set a “buy” rating and a $53.00 target price for the company. Cowen began coverage on shares of Bank of America in a report on Wednesday, May 14th. They set a “buy” rating on the stock. Royal Bank of Canada cut their price target on shares of Bank of America from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday, April 16th. Barclays cut their price target on shares of Bank of America from $58.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Finally, Oppenheimer restated an “outperform” rating on shares of Bank of America in a report on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $47.50.

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 in four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.