Bank of America Co. (NYSE:BAC) Stake Increased by O ROURKE & COMPANY Inc

O ROURKE & COMPANY Inc grew its holdings in Bank of America Co. (NYSE:BAC) by 4.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,475 shares of the financial services provider’s stock after purchasing an additional 476 shares during the period. O ROURKE & COMPANY Inc’s holdings in Bank of America were worth $473,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Claro Advisors LLC raised its holdings in shares of Bank of America by 5.1% during the first quarter. Claro Advisors LLC now owns 57,442 shares of the financial services provider’s stock worth $2,178,000 after acquiring an additional 2,793 shares in the last quarter. Miracle Mile Advisors LLC raised its holdings in shares of Bank of America by 2.1% during the first quarter. Miracle Mile Advisors LLC now owns 19,229 shares of the financial services provider’s stock worth $729,000 after acquiring an additional 388 shares in the last quarter. Kowal Investment Group LLC raised its holdings in shares of Bank of America by 21.2% during the first quarter. Kowal Investment Group LLC now owns 14,578 shares of the financial services provider’s stock worth $553,000 after acquiring an additional 2,548 shares in the last quarter. BKM Wealth Management LLC raised its holdings in shares of Bank of America by 30.1% during the first quarter. BKM Wealth Management LLC now owns 5,243 shares of the financial services provider’s stock worth $199,000 after acquiring an additional 1,213 shares in the last quarter. Finally, Diversified Trust Co raised its holdings in shares of Bank of America by 18.3% during the first quarter. Diversified Trust Co now owns 168,915 shares of the financial services provider’s stock worth $6,405,000 after acquiring an additional 26,145 shares in the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BAC. JPMorgan Chase & Co. raised their price target on Bank of America from $39.50 to $40.50 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. StockNews.com downgraded Bank of America from a “hold” rating to a “sell” rating in a research report on Monday, May 20th. Piper Sandler raised their price target on Bank of America from $35.00 to $37.00 and gave the company an “underweight” rating in a research report on Tuesday, June 4th. Citigroup raised their price target on Bank of America from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. Finally, HSBC reaffirmed a “hold” rating and issued a $39.00 price target (up from $38.00) on shares of Bank of America in a research report on Thursday, March 28th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $39.79.

Bank of America Trading Up 0.6 %

BAC traded up $0.24 during trading on Monday, reaching $40.01. 26,766,562 shares of the company’s stock were exchanged, compared to its average volume of 38,869,418. The company’s fifty day moving average price is $38.91 and its 200-day moving average price is $36.12. 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 Co. has a fifty-two week low of $24.96 and a fifty-two week high of $40.34. The firm has a market capitalization of $312.89 billion, a PE ratio of 13.84, a P/E/G ratio of 1.52 and a beta of 1.35.

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. 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 analysts’ expectations of $25.49 billion. During the same quarter in the prior year, the company earned $0.94 EPS. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. As a group, equities analysts forecast that Bank of America Co. will post 3.22 EPS for the current year.

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend was Friday, June 7th. Bank of America’s dividend payout ratio (DPR) is presently 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.