Investors sold shares of Bank of America Corp. (NYSE:BAC) on strength during trading hours on Wednesday. $156.46 million flowed into the stock on the tick-up and $199.16 million flowed out of the stock on the tick-down, for a money net flow of $42.70 million out of the stock. Of all stocks tracked, Bank of America Corp. had the 0th highest net out-flow for the day. Bank of America Corp. traded up $0.12 for the day and closed at $12.86

Several research analysts have recently issued reports on BAC shares. Raymond James Financial Inc. reiterated an “outperform” rating on shares of Bank of America Corp. in a report on Friday, June 3rd. Deutsche Bank AG reiterated a “buy” rating on shares of Bank of America Corp. in a report on Saturday, June 4th. Barclays PLC reiterated a “hold” rating on shares of Bank of America Corp. in a report on Sunday, April 17th. Robert W. Baird reiterated an “outperform” rating and issued a $17.00 price objective on shares of Bank of America Corp. in a report on Monday, June 6th. Finally, Vetr upgraded shares of Bank of America Corp. from a “buy” rating to a “strong-buy” rating and set a $15.09 price objective for the company in a report on Tuesday, June 14th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $17.56.

The stock has a market cap of $135.24 billion and a price-to-earnings ratio of 10.11. The stock’s 50-day moving average price is $13.90 and its 200-day moving average price is $13.96.

Bank of America Corp. (NYSE:BAC) last issued its quarterly earnings data on Thursday, April 14th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.21. The firm had revenue of $20.90 billion for the quarter, compared to analyst estimates of $20.30 billion. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.27 EPS. Equities research analysts anticipate that Bank of America Corp. will post $1.30 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 24th. Investors of record on Friday, June 3rd were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend was Wednesday, June 1st.

A number of hedge funds and institutional investors have recently modified their holdings of the stock. Investors Asset Management of Georgia Inc. GA ADV boosted its position in shares of Bank of America Corp. by 0.3% in the fourth quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 59,596 shares of the financial services provider’s stock worth $1,003,000 after buying an additional 200 shares in the last quarter. Parsons Capital Management Inc. RI boosted its position in shares of Bank of America Corp. by 8.7% in the fourth quarter. Parsons Capital Management Inc. RI now owns 59,757 shares of the financial services provider’s stock worth $1,006,000 after buying an additional 4,800 shares in the last quarter. Brighton Jones LLC boosted its position in shares of Bank of America Corp. by 11.2% in the fourth quarter. Brighton Jones LLC now owns 63,794 shares of the financial services provider’s stock worth $1,074,000 after buying an additional 6,412 shares in the last quarter. San Francisco Sentry Investment Group CA boosted its position in shares of Bank of America Corp. by 19.5% in the fourth quarter. San Francisco Sentry Investment Group CA now owns 68,283 shares of the financial services provider’s stock worth $1,149,000 after buying an additional 11,160 shares in the last quarter. Finally, Meridian Investment Counsel Inc. boosted its position in shares of Bank of America Corp. by 10.9% in the fourth quarter. Meridian Investment Counsel Inc. now owns 70,410 shares of the financial services provider’s stock worth $1,185,000 after buying an additional 6,905 shares in the last quarter.

Bank of America Corporation is a bank holding and financial holding company. The Company is a financial institution, serving individual consumers, small- and middle-market businesses, institutional investors, corporations and governments with various banking, investing, asset management and other financial and risk management products and services.

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