Bank of America Corp. (NYSE:BAC) gapped up prior to trading on Friday . The stock had previously closed at $14.27, but opened at $14.48. Bank of America Corp. shares last traded at $15.02, with a volume of 75,903,713 shares trading hands.

BAC has been the subject of several recent research reports. Vetr cut Bank of America Corp. from a “strong-buy” rating to a “buy” rating and set a $15.78 price target for the company. in a research note on Monday, May 9th. Citigroup Inc. increased their price target on Bank of America Corp. from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Sunday, April 17th. Jefferies Group reissued a “buy” rating and issued a $16.50 price target (up previously from $16.00) on shares of Bank of America Corp. in a research note on Tuesday, July 19th. FBR & Co reissued an “outperform” rating and issued a $20.00 price target on shares of Bank of America Corp. in a research note on Sunday, July 24th. Finally, Barclays PLC reissued an “equal weight” rating and issued a $19.00 price target on shares of Bank of America Corp. in a research note on Sunday, July 10th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $17.30.

The firm has a market capitalization of $158.27 billion and a P/E ratio of 12.62. The stock’s 50 day moving average is $13.76 and its 200-day moving average is $13.69.

Bank of America Corp. (NYSE:BAC) last released its quarterly earnings data on Monday, July 18th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.03. During the same period last year, the company posted $0.45 earnings per share. The business earned $20.60 million during the quarter, compared to the consensus estimate of $20.41 billion. The business’s revenue was down 7.2% compared to the same quarter last year. On average, equities research analysts expect that Bank of America Corp. will post $1.26 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Friday, September 2nd will be paid a dividend of $0.075 per share. This is an increase from Bank of America Corp.’s previous quarterly dividend of $0.05. The ex-dividend date is Wednesday, August 31st. This represents a $0.30 dividend on an annualized basis and a yield of 1.99%.

In related news, Director Thomas D. Woods bought 25,000 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The stock was acquired at an average cost of $14.13 per share, for a total transaction of $353,250.00. Following the purchase, the director now owns 32,459 shares in the company, valued at $458,645.67. The acquisition was disclosed in a filing with the SEC, which is available through this link.

A number of large investors recently made changes to their positions in BAC. Cibc World Markets Corp bought a new stake in shares of Bank of America Corp. during the fourth quarter worth $69,933,000. BOKF NA raised its stake in shares of Bank of America Corp. by 1.2% in the fourth quarter. BOKF NA now owns 338,845 shares of the financial services provider’s stock worth $5,703,000 after buying an additional 3,978 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Bank of America Corp. by 4.7% in the fourth quarter. Victory Capital Management Inc. now owns 5,877,987 shares of the financial services provider’s stock worth $98,927,000 after buying an additional 265,186 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its stake in shares of Bank of America Corp. by 4.3% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 1,534,841 shares of the financial services provider’s stock worth $25,831,000 after buying an additional 63,115 shares in the last quarter. Finally, American National Bank & Trust Co. VA raised its stake in shares of Bank of America Corp. by 2.5% in the fourth quarter. American National Bank & Trust Co. VA now owns 199,184 shares of the financial services provider’s stock worth $3,350,000 after buying an additional 4,942 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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