Embree Financial Group Has $3.64 Million Position in Bank of America Co. (NYSE:BAC)

Embree Financial Group lowered its holdings in Bank of America Co. (NYSE:BACFree Report) by 4.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 96,103 shares of the financial services provider’s stock after selling 3,998 shares during the quarter. Bank of America comprises approximately 0.7% of Embree Financial Group’s investment portfolio, making the stock its 29th largest holding. Embree Financial Group’s holdings in Bank of America were worth $3,644,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of BAC. Harbour Investments Inc. raised its stake in Bank of America by 5.7% in the 3rd quarter. Harbour Investments Inc. now owns 16,829 shares of the financial services provider’s stock valued at $461,000 after acquiring an additional 901 shares during the period. Financial Gravity Asset Management Inc. raised its stake in Bank of America by 2,500.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 1,716 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 1,650 shares during the period. Integrated Advisors Network LLC raised its stake in Bank of America by 3.7% in the 3rd quarter. Integrated Advisors Network LLC now owns 109,853 shares of the financial services provider’s stock valued at $3,008,000 after acquiring an additional 3,926 shares during the period. Diversified Trust Co raised its stake in Bank of America by 1.9% in the 3rd quarter. Diversified Trust Co now owns 134,279 shares of the financial services provider’s stock valued at $3,677,000 after acquiring an additional 2,540 shares during the period. Finally, Granite Harbor Advisors Inc. raised its stake in Bank of America by 0.9% in the 3rd quarter. Granite Harbor Advisors Inc. now owns 56,652 shares of the financial services provider’s stock valued at $1,551,000 after acquiring an additional 513 shares during the period. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Price Performance

BAC traded up $0.30 during midday trading on Wednesday, hitting $41.72. The stock had a trading volume of 25,289,703 shares, compared to its average volume of 38,332,094. The company has a market cap of $326.27 billion, a P/E ratio of 14.44, a price-to-earnings-growth ratio of 1.55 and a beta of 1.35. The business has a fifty day moving average of $39.41 and a 200 day moving average of $36.52. 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 1 year low of $24.96 and a 1 year high of $41.83.

Bank of America (NYSE:BACGet Free Report) last announced its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $25.82 billion during the quarter, compared to the consensus estimate of $25.49 billion. During the same quarter in the previous year, the company posted $0.94 earnings per share. The business’s 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 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

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

Analyst Ratings Changes

BAC has been the subject of a number of recent analyst reports. HSBC reaffirmed a “hold” rating and set a $39.00 target price (up previously from $38.00) on shares of Bank of America in a report on Thursday, March 28th. StockNews.com lowered Bank of America from a “hold” rating to a “sell” rating in a report on Monday, May 20th. Evercore ISI lifted their target price on Bank of America from $41.00 to $43.00 and gave the company an “outperform” rating in a report on Wednesday, July 3rd. Keefe, Bruyette & Woods raised Bank of America from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $37.00 to $46.00 in a report on Friday, June 14th. Finally, Seaport Res Ptn raised Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Bank of America has an average rating of “Moderate Buy” and an average target price of $40.41.

Read Our Latest Research Report on Bank of America

Bank of America Company 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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