Bank of America Corporation (NYSE:BAC) Holdings Raised by Slagle Financial LLC

Slagle Financial LLC grew its holdings in shares of Bank of America Corporation (NYSE:BAC) by 2.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 69,791 shares of the financial services provider’s stock after buying an additional 1,618 shares during the period. Bank of America accounts for about 1.3% of Slagle Financial LLC’s investment portfolio, making the stock its 28th biggest holding. Slagle Financial LLC’s holdings in Bank of America were worth $2,912,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in BAC. Graney & King LLC bought a new stake in Bank of America during the 4th quarter valued at approximately $25,000. Fairway Wealth LLC bought a new stake in shares of Bank of America during the fourth quarter valued at approximately $29,000. Vega Investment Solutions bought a new stake in shares of Bank of America during the fourth quarter worth $30,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Bank of America during the fourth quarter worth $31,000. Finally, Spurstone Advisory Services LLC acquired a new stake in Bank of America in the fourth quarter worth $34,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Price Performance

Shares of NYSE:BAC opened at $47.17 on Wednesday. The stock has a market capitalization of $355.28 billion, a PE ratio of 14.04, a PEG ratio of 1.32 and a beta of 1.30. The company has a current ratio of 0.79, a quick ratio of 0.78 and a debt-to-equity ratio of 1.11. The firm has a 50 day moving average of $44.60 and a 200-day moving average of $43.50. Bank of America Corporation has a 12 month low of $33.07 and a 12 month high of $49.31.

Bank of America (NYSE:BAC) last announced its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.10. The business had revenue of $27.37 billion during the quarter, compared to analyst estimates of $26.83 billion. Bank of America had a net margin of 14.56% and a return on equity of 10.25%. On average, equities research analysts predict that Bank of America Corporation will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 6th were issued a $0.26 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.20%. Bank of America’s payout ratio is 30.95%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BAC. Baird R W cut Bank of America from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 27th. Cfra Research lifted their price target on Bank of America to $47.00 and gave the company a “buy” rating in a research note on Wednesday, April 16th. HSBC lowered shares of Bank of America from a “buy” rating to a “hold” rating and boosted their target price for the stock from $47.00 to $51.00 in a report on Monday. Keefe, Bruyette & Woods cut their target price on Bank of America from $55.00 to $52.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 16th. Finally, Phillip Securities upgraded Bank of America from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, April 17th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $48.33.

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.