Bank of America Co. (NYSE:BAC) Stock Position Increased by Bank Julius Baer & Co. Ltd Zurich

Bank Julius Baer & Co. Ltd Zurich boosted its position in Bank of America Co. (NYSE:BAC) by 4.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 107,056 shares of the financial services provider’s stock after purchasing an additional 4,571 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Bank of America were worth $3,605,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of BAC. Strategic Blueprint LLC lifted its position in Bank of America by 13.0% in the 3rd quarter. Strategic Blueprint LLC now owns 15,050 shares of the financial services provider’s stock valued at $412,000 after purchasing an additional 1,737 shares during the last quarter. CX Institutional raised its position in shares of Bank of America by 11.7% during the 3rd quarter. CX Institutional now owns 37,026 shares of the financial services provider’s stock worth $1,014,000 after buying an additional 3,892 shares in the last quarter. KRS Capital Management LLC raised its position in shares of Bank of America by 687.1% during the 3rd quarter. KRS Capital Management LLC now owns 56,021 shares of the financial services provider’s stock worth $1,534,000 after buying an additional 48,904 shares in the last quarter. Grimes & Company Inc. raised its position in shares of Bank of America by 2.0% during the 3rd quarter. Grimes & Company Inc. now owns 298,390 shares of the financial services provider’s stock worth $8,170,000 after buying an additional 5,746 shares in the last quarter. Finally, Zullo Investment Group Inc. raised its position in shares of Bank of America by 5.4% during the 3rd quarter. Zullo Investment Group Inc. now owns 15,200 shares of the financial services provider’s stock worth $416,000 after buying an additional 773 shares in the last quarter. 70.71% of the stock is currently owned by institutional investors.

Bank of America Stock Down 0.2 %

Bank of America stock opened at $37.82 on Friday. The firm has a market cap of $298.42 billion, a PE ratio of 13.09, a P/E/G ratio of 1.70 and a beta of 1.39. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.79 and a current ratio of 0.79. The firm’s 50 day moving average price is $36.13 and its two-hundred day moving average price is $32.72. Bank of America Co. has a twelve month low of $24.96 and a twelve month high of $38.49.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.06. The firm had revenue of $25.82 billion for the quarter, compared to analyst estimates of $25.49 billion. Bank of America had a net margin of 13.94% and a return on equity of 10.88%. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.94 EPS. On average, research analysts predict that Bank of America Co. will post 3.19 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 28th. Shareholders of record on Friday, June 7th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.54%. The ex-dividend date is Friday, June 7th. Bank of America’s dividend payout ratio is 33.22%.

Analyst Ratings Changes

BAC has been the topic of a number of recent analyst reports. BMO Capital Markets boosted their price target on shares of Bank of America from $36.00 to $37.00 and gave the stock a “market perform” rating in a research report on Thursday, April 18th. Citigroup boosted their price target on shares of Bank of America from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Evercore ISI boosted their price target on shares of Bank of America from $37.00 to $41.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Odeon Capital Group cut shares of Bank of America from a “buy” rating to a “hold” rating and set a $33.90 price objective on the stock. in a research note on Tuesday, January 16th. Finally, Erste Group Bank raised shares of Bank of America from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Bank of America currently has a consensus rating of “Hold” and an average price target of $38.53.

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