Traders sold shares of Bank of America Corp. (NYSE:BAC) on strength during trading hours on Friday. $299.71 million flowed into the stock on the tick-up and $347.91 million flowed out of the stock on the tick-down, for a money net flow of $48.20 million out of the stock. Of all companies tracked, Bank of America Corp. had the 0th highest net out-flow for the day. Bank of America Corp. traded up $0.26 for the day and closed at $15.79

A number of analysts have recently weighed in on BAC shares. Credit Suisse Group AG reissued an “outperform” rating and issued a $18.00 price objective on shares of Bank of America Corp. in a research report on Thursday, July 7th. Vetr raised Bank of America Corp. from a “hold” rating to a “buy” rating and set a $14.90 price objective for the company in a research report on Monday, July 25th. Barclays PLC reissued an “equal weight” rating and issued a $19.00 price objective on shares of Bank of America Corp. in a research report on Sunday, July 10th. Deutsche Bank AG reissued a “buy” rating and issued a $175.00 price objective on shares of Bank of America Corp. in a research report on Thursday. Finally, Citigroup Inc. raised their price objective on Bank of America Corp. from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, July 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $24.32.

The stock’s 50 day moving average price is $14.59 and its 200 day moving average price is $13.88. The stock has a market cap of $166.05 billion and a P/E ratio of 13.24.

Bank of America Corp. (NYSE:BAC) last issued its earnings results on Monday, July 18th. The financial services provider reported $0.36 earnings per share (EPS) 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 analysts’ expectations of $20.41 billion. During the same period last year, the business posted $0.45 earnings per share. The company’s quarterly revenue was down 7.2% on a year-over-year basis. On average, equities research analysts expect that Bank of America Corp. will post $1.26 EPS for the current 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 issued a $0.075 dividend. The ex-dividend date is Wednesday, August 31st. This is a boost from Bank of America Corp.’s previous quarterly dividend of $0.05. This represents a $0.30 dividend on an annualized basis and a yield of 1.90%.

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

A number of hedge funds and institutional investors recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted 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 during the period. Schwab Charles Investment Management Inc. boosted its position in shares of Bank of America Corp. by 5.1% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 29,935,015 shares of the financial services provider’s stock worth $503,807,000 after buying an additional 1,444,139 shares during the period. State of Tennessee Treasury Department boosted its position in shares of Bank of America Corp. by 6.6% in the fourth quarter. State of Tennessee Treasury Department now owns 9,738,232 shares of the financial services provider’s stock worth $163,894,000 after buying an additional 601,931 shares during the period. I.G. Investment Management LTD. boosted its position in shares of Bank of America Corp. by 3.0% in the fourth quarter. I.G. Investment Management LTD. now owns 5,844,673 shares of the financial services provider’s stock worth $98,366,000 after buying an additional 168,959 shares during the period. Finally, Snow Capital Management LP boosted its position in shares of Bank of America Corp. by 142.1% in the fourth quarter. Snow Capital Management LP now owns 3,140,470 shares of the financial services provider’s stock worth $52,854,000 after buying an additional 1,843,161 shares during the period.

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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