Kiley Juergens Wealth Management LLC Has $1.53 Million Stock Holdings in Bank of America Co. (NYSE:BAC)

Kiley Juergens Wealth Management LLC raised its holdings in Bank of America Co. (NYSE:BAC) by 24.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,204 shares of the financial services provider’s stock after acquiring an additional 7,953 shares during the quarter. Kiley Juergens Wealth Management LLC’s holdings in Bank of America were worth $1,525,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. First National Bank of Omaha increased its position in Bank of America by 2.0% during the third quarter. First National Bank of Omaha now owns 24,034 shares of the financial services provider’s stock worth $658,000 after acquiring an additional 461 shares during the period. Axxcess Wealth Management LLC increased its position in Bank of America by 194.9% during the third quarter. Axxcess Wealth Management LLC now owns 74,734 shares of the financial services provider’s stock worth $2,046,000 after acquiring an additional 49,395 shares during the period. Ariel Investments LLC increased its position in Bank of America by 7.7% during the third quarter. Ariel Investments LLC now owns 156,608 shares of the financial services provider’s stock worth $4,288,000 after acquiring an additional 11,237 shares during the period. Alps Advisors Inc. increased its position in Bank of America by 4.0% during the third quarter. Alps Advisors Inc. now owns 34,540 shares of the financial services provider’s stock worth $946,000 after acquiring an additional 1,333 shares during the period. Finally, Adage Capital Partners GP L.L.C. increased its position in Bank of America by 3.3% during the third quarter. Adage Capital Partners GP L.L.C. now owns 6,880,173 shares of the financial services provider’s stock worth $188,379,000 after acquiring an additional 222,500 shares during the period. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Bank of America Trading Up 0.0 %

Bank of America stock traded up $0.02 during trading hours on Wednesday, reaching $40.95. 3,969,207 shares of the company’s stock traded hands, compared to its average volume of 38,559,215. 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 $41.20. The firm has a market capitalization of $320.24 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 1.52 and a beta of 1.35. The firm’s 50 day moving average is $38.95 and its 200-day moving average is $36.17.

Bank of America (NYSE:BAC) last announced its quarterly 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 company had revenue of $25.82 billion during the quarter, compared to analysts’ expectations of $25.49 billion. During the same period in the prior year, the business posted $0.94 EPS. Bank of America’s revenue was down 1.7% on a year-over-year basis. On average, analysts predict that Bank of America Co. will post 3.22 earnings per share for the current year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were paid a dividend of $0.24 per share. The ex-dividend date was Friday, June 7th. This represents a $0.96 dividend on an annualized basis and a yield of 2.34%. Bank of America’s payout ratio is 33.22%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BAC. Citigroup boosted their price target on shares of Bank of America from $37.00 to $39.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. HSBC reissued a “hold” rating and issued a $39.00 price target (up previously from $38.00) on shares of Bank of America in a report on Thursday, March 28th. Keefe, Bruyette & Woods raised shares of Bank of America from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $37.00 to $46.00 in a report on Friday, June 14th. Evercore ISI boosted their target price on shares of Bank of America from $41.00 to $43.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Seaport Res Ptn upgraded shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Bank of America has an average rating of “Moderate Buy” and a consensus price target of $39.91.

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.