Clarity Capital Partners LLC Buys 315 Shares of Bank of America Co. (NYSE:BAC)

Clarity Capital Partners LLC grew its holdings in Bank of America Co. (NYSE:BAC) by 4.1% in the 1st quarter, HoldingsChannel reports. The firm owned 7,964 shares of the financial services provider’s stock after buying an additional 315 shares during the quarter. Clarity Capital Partners LLC’s holdings in Bank of America were worth $302,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Fortis Group Advisors LLC bought a new stake in shares of Bank of America in the 3rd quarter valued at about $25,000. Livelsberger Financial Advisory bought a new stake in shares of Bank of America in the 4th quarter valued at about $28,000. Criterion Capital Advisors LLC bought a new position in shares of Bank of America during the 4th quarter worth approximately $32,000. Northwest Investment Counselors LLC bought a new position in shares of Bank of America during the 1st quarter worth approximately $33,000. Finally, Mark Sheptoff Financial Planning LLC raised its stake in shares of Bank of America by 431.0% during the 4th 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 in the last quarter. Institutional investors own 70.71% of the company’s stock.

Bank of America Stock Performance

Shares of BAC stock traded up $0.30 during trading hours on Wednesday, hitting $41.72. The company’s stock had a trading volume of 25,289,703 shares, compared to its average volume of 38,332,094. The company has a 50 day moving average of $39.41 and a 200 day moving average of $36.52. The stock has a market cap of $326.27 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 1.55 and a beta of 1.35. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.12. Bank of America Co. has a 12-month low of $24.96 and a 12-month high of $41.83.

Bank of America (NYSE:BACGet Free Report) last posted its earnings results on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $25.82 billion during the quarter, compared to analysts’ expectations of $25.49 billion. During the same period in the previous year, the business posted $0.94 EPS. The business’s revenue was down 1.7% compared to the same quarter last year. On average, sell-side analysts forecast that Bank of America Co. will post 3.22 EPS for the current fiscal year.

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend was Friday, June 7th. Bank of America’s dividend payout ratio is currently 33.22%.

Wall Street Analyst Weigh In

Several research analysts recently commented on BAC shares. Jefferies Financial Group boosted their price objective on shares of Bank of America from $39.00 to $41.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Citigroup boosted their price objective on shares of Bank of America from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. Oppenheimer boosted their price objective on shares of Bank of America from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 30th. Keefe, Bruyette & Woods raised shares of Bank of America from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $37.00 to $46.00 in a research report on Friday, June 14th. Finally, StockNews.com downgraded shares of Bank of America from a “hold” rating to a “sell” rating in a research report on Monday, May 20th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Bank of America has an average rating of “Moderate Buy” and an average target price of $40.41.

Read Our Latest Analysis on BAC

Bank of America Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Bank of America (NYSE:BAC)

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