Traders purchased shares of Bank of America Corp. (NYSE:BAC) on weakness during trading hours on Wednesday. $232.01 million flowed into the stock on the tick-up and $175.53 million flowed out of the stock on the tick-down, for a money net flow of $56.48 million into the stock. Of all companies tracked, Bank of America Corp. had the 4th highest net in-flow for the day. Bank of America Corp. traded down ($0.38) for the day and closed at $14.81

Several equities analysts recently weighed in on BAC shares. Raymond James Financial Inc. restated an “outperform” rating on shares of Bank of America Corp. in a research note on Friday, June 3rd. Keefe, Bruyette & Woods restated a “hold” rating and issued a $15.00 price target on shares of Bank of America Corp. in a research note on Wednesday, July 20th. Deutsche Bank AG restated a “buy” rating on shares of Bank of America Corp. in a research note on Saturday, June 4th. Jefferies Group restated a “buy” rating on shares of Bank of America Corp. in a research note on Sunday, July 10th. Finally, Barclays PLC restated a “hold” rating on shares of Bank of America Corp. in a research note on Sunday, April 17th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. Bank of America Corp. currently has an average rating of “Buy” and an average target price of $17.30.

The company has a market capitalization of $155.75 billion and a P/E ratio of 12.41. The stock’s 50-day moving average is $13.89 and its 200-day moving average is $13.72.

Bank of America Corp. (NYSE:BAC) last announced its quarterly earnings results on Monday, July 18th. The financial services provider reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.03. The company earned $20.60 million during the quarter, compared to analyst estimates of $20.41 billion. The firm’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.45 EPS. Analysts forecast that Bank of America Corp. will post $1.26 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Friday, September 2nd will be issued a $0.075 dividend. 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 dividend yield of 2.03%.

In other Bank of America Corp. news, Director Thomas D. Woods bought 25,000 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The shares were acquired at an average price of $14.13 per share, with a total value of $353,250.00. Following the purchase, the director now owns 32,459 shares in the company, valued at approximately $458,645.67. The purchase was disclosed in a document filed with the SEC, which is available through this link.

Other institutional investors have modified their holdings of the company. Dimensional Fund Advisors LP increased its position in shares of Bank of America Corp. by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 48,502,101 shares of the financial services provider’s stock worth $816,367,000 after buying an additional 281,039 shares in the last quarter. Standard Life Investments LTD increased its position in shares of Bank of America Corp. by 9.2% in the fourth quarter. Standard Life Investments LTD now owns 32,739,777 shares of the financial services provider’s stock worth $551,175,000 after buying an additional 2,759,595 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Bank of America Corp. by 1.5% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 28,870,934 shares of the financial services provider’s stock worth $492,249,000 after buying an additional 422,034 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Bank of America Corp. by 2.6% in the fourth quarter. Principal Financial Group Inc. now owns 14,364,629 shares of the financial services provider’s stock worth $241,757,000 after buying an additional 367,629 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D increased its position in shares of Bank of America Corp. by 2.2% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 13,748,000 shares of the financial services provider’s stock worth $231,379,000 after buying an additional 300,000 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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