Investors sold shares of Bank of America Corp. (NYSE:BAC) on strength during trading hours on Tuesday. $256.70 million flowed into the stock on the tick-up and $309.05 million flowed out of the stock on the tick-down, for a money net flow of $52.35 million out of the stock. Of all equities tracked, Bank of America Corp. had the 0th highest net out-flow for the day. Bank of America Corp. traded up $0.05 for the day and closed at $15.84

A number of analysts have issued reports on BAC shares. Vetr downgraded shares of Bank of America Corp. from a “strong-buy” rating to a “buy” rating and set a $14.87 price target on the stock. in a report on Wednesday, June 15th. TheStreet raised shares of Bank of America Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, May 10th. Deutsche Bank AG reissued a “buy” rating on shares of Bank of America Corp. in a research note on Saturday, June 4th. Buckingham Research reissued a “buy” rating on shares of Bank of America Corp. in a research note on Tuesday, June 21st. Finally, Sanford C. Bernstein reissued a “buy” rating on shares of Bank of America Corp. in a research note on Monday, June 20th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Bank of America Corp. has an average rating of “Buy” and a consensus target price of $24.39.

The company’s 50 day moving average is $14.74 and its 200-day moving average is $13.98. The firm has a market cap of $169.47 billion and a price-to-earnings ratio of 13.508.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, September 2nd will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.85%. This is a boost from Bank of America Corp.’s previous quarterly dividend of $0.05. The ex-dividend date is Wednesday, August 31st.

In other Bank of America Corp. news, Director Thomas D. Woods acquired 25,000 shares of the stock in a transaction dated Tuesday, August 2nd. The stock was acquired at an average price of $14.13 per share, with a total value of $353,250.00. Following the completion of 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 hyperlink.

A number of hedge funds have recently modified their holdings of BAC. Snow Capital Management LP boosted its stake 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 valued at $52,854,000 after buying an additional 1,843,161 shares during the period. Schwab Charles Investment Management Inc. boosted its stake 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 valued at $503,807,000 after buying an additional 1,444,139 shares during the period. State of Tennessee Treasury Department boosted its stake 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 valued at $163,894,000 after buying an additional 601,931 shares during the period. Dimensional Fund Advisors LP boosted its stake 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 valued at $816,367,000 after buying an additional 281,039 shares during the period. Finally, Summit Securities Group LLC boosted its stake in shares of Bank of America Corp. by 850.0% in the fourth quarter. Summit Securities Group LLC now owns 294,500 shares of the financial services provider’s stock valued at $4,956,000 after buying an additional 263,500 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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