Bank of America Co. (NYSE:BAC) Shares Acquired by Diversified Trust Co

Diversified Trust Co raised its holdings in shares of Bank of America Co. (NYSE:BAC) by 18.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 168,915 shares of the financial services provider’s stock after purchasing an additional 26,145 shares during the period. Diversified Trust Co’s holdings in Bank of America were worth $6,405,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Fortis Group Advisors LLC acquired a new position in shares of Bank of America during the third quarter worth $25,000. Livelsberger Financial Advisory acquired a new position in shares of Bank of America in the 4th quarter valued at $28,000. Criterion Capital Advisors LLC acquired a new position in shares of Bank of America in the 4th quarter valued at $32,000. Northwest Investment Counselors LLC acquired a new position in shares of Bank of America in the 1st quarter valued at $33,000. Finally, Mark Sheptoff Financial Planning LLC increased its position in shares of Bank of America by 431.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 1,062 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 862 shares during the period. 70.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on BAC shares. JPMorgan Chase & Co. increased their price target on Bank of America from $39.50 to $40.50 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Oppenheimer increased their price target on Bank of America from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 30th. Evercore ISI increased their price target on Bank of America from $37.00 to $41.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. HSBC reaffirmed a “hold” rating and set a $39.00 price target (up from $38.00) on shares of Bank of America in a research report on Thursday, March 28th. Finally, Jefferies Financial Group increased their price target on Bank of America from $36.00 to $39.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Bank of America has a consensus rating of “Hold” and a consensus target price of $39.79.

Bank of America Price Performance

Bank of America stock traded up $0.01 during midday trading on Monday, reaching $39.78. The company had a trading volume of 10,534,236 shares, compared to its average volume of 38,739,578. The company has a market capitalization of $311.09 billion, a P/E ratio of 13.75, a P/E/G ratio of 1.52 and a beta of 1.35. Bank of America Co. has a 12-month low of $24.96 and a 12-month high of $40.34. The firm’s fifty day simple moving average is $38.91 and its 200-day simple moving average is $36.12. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.79 and a quick ratio of 0.79.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. The company had revenue of $25.82 billion during the quarter, compared to the consensus estimate of $25.49 billion. Bank of America had a net margin of 13.94% and a return on equity of 10.88%. Bank of America’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.94 EPS. As a group, equities analysts anticipate that Bank of America Co. will post 3.22 EPS for the current year.

Bank of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.96 dividend on an annualized basis and a yield of 2.41%. Bank of America’s payout ratio is 33.22%.

Bank of America 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.