Dohj LLC Boosts Stake in Bank of America Co. (NYSE:BAC)

Dohj LLC boosted its position in Bank of America Co. (NYSE:BAC) by 7.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 49,957 shares of the financial services provider’s stock after purchasing an additional 3,585 shares during the period. Dohj LLC’s holdings in Bank of America were worth $1,894,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in BAC. Fortis Group Advisors LLC bought a new stake in Bank of America in the third quarter worth about $25,000. Livelsberger Financial Advisory purchased a new position in shares of Bank of America during the fourth quarter worth approximately $28,000. Criterion Capital Advisors LLC purchased a new position in shares of Bank of America during the fourth quarter worth approximately $32,000. Northwest Investment Counselors LLC purchased a new position in shares of Bank of America during the first quarter worth approximately $33,000. Finally, Mark Sheptoff Financial Planning LLC increased its position in shares of Bank of America by 431.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 1,062 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 862 shares during the period. Institutional investors own 70.71% of the company’s stock.

Bank of America Stock Performance

Shares of NYSE:BAC traded up $0.40 on Friday, hitting $39.65. 14,497,780 shares of the company were exchanged, compared to its average volume of 38,664,379. Bank of America Co. has a 1-year low of $24.96 and a 1-year high of $40.34. The stock’s 50 day moving average price is $38.78 and its 200 day moving average price is $35.97. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $310.08 billion, a P/E ratio of 13.83, a price-to-earnings-growth ratio of 1.49 and a beta of 1.36.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.77 by $0.06. Bank of America had a net margin of 13.94% and a return on equity of 10.88%. The business had revenue of $25.82 billion during the quarter, compared to the consensus estimate of $25.49 billion. During the same period in the previous year, the firm posted $0.94 earnings per share. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. Sell-side analysts predict that Bank of America Co. will post 3.22 EPS for the current year.

Bank of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.96 annualized dividend and a dividend yield of 2.42%. Bank of America’s payout ratio is currently 33.22%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on BAC shares. Oppenheimer raised their target price on shares of Bank of America from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 30th. Wolfe Research raised shares of Bank of America from a “peer perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a research report on Friday, April 19th. Wells Fargo & Company raised their target price on shares of Bank of America from $40.00 to $44.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. StockNews.com lowered shares of Bank of America from a “hold” rating to a “sell” rating in a report on Monday, May 20th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Bank of America from $39.50 to $40.50 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $39.79.

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.