BluePath Capital Management LLC Has $503,000 Stake in Bank of America Co. (NYSE:BAC)

BluePath Capital Management LLC increased its holdings in Bank of America Co. (NYSE:BAC) by 18.0% during the first quarter, HoldingsChannel reports. The fund owned 13,260 shares of the financial services provider’s stock after acquiring an additional 2,025 shares during the quarter. BluePath Capital Management LLC’s holdings in Bank of America were worth $503,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Tradewinds Capital Management LLC grew its holdings in shares of Bank of America by 271.7% in the first quarter. Tradewinds Capital Management LLC now owns 9,602 shares of the financial services provider’s stock valued at $364,000 after acquiring an additional 7,019 shares in the last quarter. Sivia Capital Partners LLC increased its position in shares of Bank of America by 8.5% during the 1st quarter. Sivia Capital Partners LLC now owns 16,617 shares of the financial services provider’s stock valued at $630,000 after purchasing an additional 1,295 shares during the last quarter. Kiley Juergens Wealth Management LLC raised its stake in shares of Bank of America by 24.7% during the 1st quarter. Kiley Juergens Wealth Management LLC now owns 40,204 shares of the financial services provider’s stock worth $1,525,000 after purchasing an additional 7,953 shares during the period. Silverlake Wealth Management LLC boosted its holdings in shares of Bank of America by 54.4% in the 1st quarter. Silverlake Wealth Management LLC now owns 26,273 shares of the financial services provider’s stock worth $996,000 after buying an additional 9,255 shares during the last quarter. Finally, Naviter Wealth LLC grew its position in Bank of America by 5.6% during the first quarter. Naviter Wealth LLC now owns 69,405 shares of the financial services provider’s stock valued at $2,632,000 after buying an additional 3,693 shares during the period. Institutional investors own 70.71% of the company’s stock.

Wall Street Analyst Weigh In

BAC has been the subject of a number of research reports. Keefe, Bruyette & Woods raised shares of Bank of America from a “market perform” rating to an “outperform” rating and increased their target price for the company from $37.00 to $46.00 in a research report on Friday, June 14th. Seaport Res Ptn raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Oppenheimer lifted their price target on Bank of America from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Tuesday, April 30th. BMO Capital Markets raised their price objective 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. Finally, Jefferies Financial Group boosted their target price on Bank of America from $39.00 to $41.00 and gave the stock a “hold” rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $40.02.

Bank of America Stock Performance

Shares of NYSE:BAC traded down $0.04 during trading on Wednesday, hitting $40.89. 17,100,665 shares of the stock traded hands, compared to its average volume of 38,672,520. 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 company has a fifty day moving average price of $39.00 and a two-hundred day moving average price of $36.22. Bank of America Co. has a 52-week low of $24.96 and a 52-week high of $41.20. The company has a market cap of $319.77 billion, a price-to-earnings ratio of 14.15, a P/E/G ratio of 1.52 and a beta of 1.35.

Bank of America (NYSE:BAC) last posted 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. The business had revenue of $25.82 billion during the quarter, compared to analysts’ expectations of $25.49 billion. Bank of America had a return on equity of 10.88% and a net margin of 13.94%. The business’s revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.94 earnings per share. As a group, equities analysts predict that Bank of America Co. will post 3.22 EPS for the current year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.96 annualized dividend and a yield of 2.35%. Bank of America’s dividend payout ratio (DPR) is presently 33.22%.

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.