WoodTrust Financial Corp Has $648,000 Stock Holdings in Bank of America Corporation (NYSE:BAC)

WoodTrust Financial Corp trimmed its position in Bank of America Corporation (NYSE:BAC) by 6.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,527 shares of the financial services provider’s stock after selling 1,156 shares during the quarter. WoodTrust Financial Corp’s holdings in Bank of America were worth $648,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Legacy Advisors LLC grew its holdings in Bank of America by 3.6% in the 1st quarter. Legacy Advisors LLC now owns 59,478 shares of the financial services provider’s stock valued at $2,482,000 after buying an additional 2,054 shares in the last quarter. AssuredPartners Investment Advisors LLC grew its holdings in Bank of America by 6.4% in the 1st quarter. AssuredPartners Investment Advisors LLC now owns 100,969 shares of the financial services provider’s stock valued at $4,213,000 after buying an additional 6,098 shares in the last quarter. GHP Investment Advisors Inc. grew its holdings in Bank of America by 1.8% in the 1st quarter. GHP Investment Advisors Inc. now owns 133,600 shares of the financial services provider’s stock valued at $5,575,000 after buying an additional 2,301 shares in the last quarter. Asset Management One Co. Ltd. grew its holdings in Bank of America by 5.2% in the 1st quarter. Asset Management One Co. Ltd. now owns 3,035,714 shares of the financial services provider’s stock valued at $126,680,000 after buying an additional 149,915 shares in the last quarter. Finally, Walkner Condon Financial Advisors LLC grew its holdings in Bank of America by 7.9% in the 1st quarter. Walkner Condon Financial Advisors LLC now owns 7,341 shares of the financial services provider’s stock valued at $306,000 after buying an additional 536 shares in the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America Price Performance

Shares of BAC opened at $46.32 on Tuesday. Bank of America Corporation has a 12-month low of $33.07 and a 12-month high of $48.08. The business has a 50-day simple moving average of $42.55 and a two-hundred day simple moving average of $43.28. The company has a quick ratio of 0.78, a current ratio of 0.79 and a debt-to-equity ratio of 1.11. The stock has a market cap of $348.88 billion, a PE ratio of 13.79, a PEG ratio of 1.23 and a beta of 1.30.

Bank of America (NYSE:BAC) last issued its earnings results on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.10. Bank of America had a return on equity of 10.25% and a net margin of 14.56%. The business had revenue of $27.37 billion during the quarter, compared to analysts’ expectations of $26.83 billion. Analysts anticipate that Bank of America Corporation will post 3.7 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 6th will be issued a $0.26 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.04 dividend on an annualized basis and a yield of 2.25%. Bank of America’s payout ratio is presently 30.95%.

Analyst Ratings Changes

A number of research analysts have commented on BAC shares. Citigroup decreased their price objective on Bank of America from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Baird R W upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 7th. Phillip Securities upgraded Bank of America from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, April 17th. Keefe, Bruyette & Woods cut their target price on Bank of America from $55.00 to $52.00 and set an “outperform” rating for the company in a research report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. cut their target price on Bank of America from $49.50 to $43.50 and set an “overweight” rating for the company in a research report on Thursday, April 3rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, nineteen have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.40.

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.