Ayalon Insurance Comp Ltd. Buys 949 Shares of Bank of America Co. (NYSE:BAC)

Ayalon Insurance Comp Ltd. increased its position in Bank of America Co. (NYSE:BAC) by 3.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,452 shares of the financial services provider’s stock after purchasing an additional 949 shares during the quarter. Ayalon Insurance Comp Ltd.’s holdings in Bank of America were worth $1,003,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. raised its position in shares of Bank of America by 5.1% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 18,816 shares of the financial services provider’s stock worth $515,000 after acquiring an additional 916 shares in the last quarter. Eagle Asset Management Inc. raised its holdings in Bank of America by 3.4% in the third quarter. Eagle Asset Management Inc. now owns 88,882 shares of the financial services provider’s stock worth $2,434,000 after purchasing an additional 2,956 shares in the last quarter. Covestor Ltd lifted its position in shares of Bank of America by 11.6% during the third quarter. Covestor Ltd now owns 4,133 shares of the financial services provider’s stock valued at $114,000 after buying an additional 428 shares during the last quarter. Operose Advisors LLC boosted its holdings in shares of Bank of America by 15.4% in the 3rd quarter. Operose Advisors LLC now owns 23,422 shares of the financial services provider’s stock valued at $641,000 after buying an additional 3,132 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC grew its position in shares of Bank of America by 10.7% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 654,184 shares of the financial services provider’s stock worth $17,912,000 after buying an additional 62,996 shares during the last quarter. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. StockNews.com downgraded shares of Bank of America from a “hold” rating to a “sell” rating in a research note on Monday, May 20th. Evercore ISI raised their price target on Bank of America from $37.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. BMO Capital Markets increased their price objective on shares of Bank of America from $36.00 to $37.00 and gave the company a “market perform” rating in a research report on Thursday, April 18th. Erste Group Bank raised shares of Bank of America from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Finally, Citigroup raised their price target on shares of Bank of America from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $39.79.

Bank of America Price Performance

Shares of BAC traded down $0.38 during mid-day trading on Wednesday, hitting $39.00. 44,306,356 shares of the company were exchanged, compared to its average volume of 38,931,496. The stock has a market cap of $304.99 billion, a price-to-earnings ratio of 13.51, a price-to-earnings-growth ratio of 1.50 and a beta of 1.36. Bank of America Co. has a 1-year low of $24.96 and a 1-year high of $40.34. The company has a 50 day moving average of $38.71 and a 200-day moving average of $35.95. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.79 and a current ratio of 0.79.

Bank of America (NYSE:BAC) last announced its earnings results 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. Bank of America had a return on equity of 10.88% and a net margin of 13.94%. The business had revenue of $25.82 billion during the quarter, compared to analysts’ expectations of $25.49 billion. During the same quarter in the prior year, the firm earned $0.94 earnings per share. The business’s revenue was down 1.7% compared to the same quarter last year. Analysts expect that Bank of America Co. will post 3.22 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. Stockholders of record on Friday, June 7th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend is Friday, June 7th. Bank of America’s dividend payout ratio (DPR) is 33.22%.

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.