Vicus Capital Has $458,000 Holdings in Bank of America Co. (NYSE:BAC)

Vicus Capital lifted its holdings in Bank of America Co. (NYSE:BAC) by 15.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,069 shares of the financial services provider’s stock after acquiring an additional 1,603 shares during the quarter. Vicus Capital’s holdings in Bank of America were worth $458,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of BAC. Fortis Group Advisors LLC bought a new position in Bank of America in the 3rd quarter worth approximately $25,000. Livelsberger Financial Advisory bought a new position in Bank of America in the 4th quarter worth approximately $28,000. Criterion Capital Advisors LLC bought a new stake in shares of Bank of America during the 4th quarter valued at $32,000. Northwest Investment Counselors LLC bought a new stake in shares of Bank of America during the 1st quarter valued at $33,000. Finally, Mark Sheptoff Financial Planning LLC raised its position 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 valued at $36,000 after acquiring an additional 862 shares during the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on BAC. BMO Capital Markets upped their target price on shares of Bank of America from $36.00 to $37.00 and gave the company a “market perform” rating in a research report on Thursday, April 18th. Jefferies Financial Group upped their target price on shares of Bank of America from $36.00 to $39.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Evercore ISI upped their target price on shares of Bank of America from $37.00 to $41.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. JPMorgan Chase & Co. upped their target price on shares of Bank of America from $39.50 to $40.50 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Finally, Wolfe Research raised shares of Bank of America from a “peer perform” rating to an “outperform” rating and set a $42.00 target price for the company in a research note on Friday, April 19th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Bank of America currently has a consensus rating of “Hold” and an average target price of $39.79.

Bank of America Stock Performance

Shares of BAC stock traded up $0.52 on Friday, reaching $39.77. The stock had a trading volume of 52,028,200 shares, compared to its average volume of 35,164,596. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.12. The firm’s 50-day moving average is $38.91 and its two-hundred day moving average is $36.10. The firm has a market capitalization of $311.02 billion, a price-to-earnings ratio of 13.76, a P/E/G ratio of 1.50 and a beta of 1.36. Bank of America Co. has a 12 month low of $24.96 and a 12 month high of $40.34.

Bank of America (NYSE:BAC) last issued its earnings results on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. The company had revenue of $25.82 billion for the quarter, compared to analysts’ expectations of $25.49 billion. Bank of America had a net margin of 13.94% and a return on equity of 10.88%. Bank of America’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.94 EPS. On average, research analysts expect that Bank of America Co. will post 3.22 EPS for the current fiscal year.

Bank of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.96 annualized dividend and a yield of 2.41%. Bank of America’s dividend payout ratio is currently 33.22%.

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.