Investors purchased shares of Bank of America Corp. (NYSE:BAC) on weakness during trading on Thursday. $375.59 million flowed into the stock on the tick-up and $329.22 million flowed out of the stock on the tick-down, for a money net flow of $46.37 million into the stock. Of all stocks tracked, Bank of America Corp. had the 31st highest net in-flow for the day. Bank of America Corp. traded down ($0.16) for the day and closed at $15.98

A number of brokerages recently weighed in on BAC. Wells Fargo & Co. restated a “buy” rating on shares of Bank of America Corp. in a report on Saturday, July 9th. Royal Bank Of Canada restated a “buy” rating on shares of Bank of America Corp. in a report on Saturday, July 9th. TheStreet upgraded shares of Bank of America Corp. to a “buy” rating in a report on Thursday, May 26th. Deutsche Bank AG restated a “buy” rating on shares of Bank of America Corp. in a report on Saturday, June 4th. Finally, Jefferies Group restated a “buy” rating on shares of Bank of America Corp. in a report on Sunday, July 10th. 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 issued a strong buy rating to the company’s stock. Bank of America Corp. currently has a consensus rating of “Buy” and an average target price of $24.39.

The firm’s 50 day moving average is $14.89 and its 200 day moving average is $14.01. The firm has a market cap of $168.05 billion and a price-to-earnings ratio of 13.39.

Bank of America Corp. (NYSE:BAC) last posted its quarterly earnings results on Monday, July 18th. The financial services provider reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. During the same quarter in the previous year, the business posted $0.45 earnings per share. The company earned $20.60 million during the quarter, compared to analyst estimates of $20.41 billion. The company’s revenue for the quarter was down 7.2% on a year-over-year basis. Equities research analysts anticipate that Bank of America Corp. will post $1.26 earnings per share for the current year.

The business also recently declared 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. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.88%. This is a positive change from Bank of America Corp.’s previous quarterly dividend of $0.05.

In related news, Director Thomas D. Woods purchased 25,000 shares of Bank of America Corp. stock in a transaction dated Tuesday, August 2nd. The shares were bought 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 approximately $458,645.67. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

A number of hedge funds and institutional investors have modified their holdings of BAC. Baird Financial Group Inc. raised its position in shares of Bank of America Corp. by 8.0% in the fourth quarter. Baird Financial Group Inc. now owns 705,002 shares of the financial services provider’s stock worth $11,865,000 after buying an additional 52,032 shares during the period. AJO LP raised its position in shares of Bank of America Corp. by 1.2% in the fourth quarter. AJO LP now owns 31,975,580 shares of the financial services provider’s stock worth $538,149,000 after buying an additional 368,745 shares during the period. Schwab Charles Investment Management Inc. raised 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. Braver Wealth Management LLC raised its position in shares of Bank of America Corp. by 4.5% in the fourth quarter. Braver Wealth Management LLC now owns 269,167 shares of the financial services provider’s stock worth $4,530,000 after buying an additional 11,652 shares during the period. Finally, Private Capital Management Inc. acquired a new position in shares of Bank of America Corp. during the fourth quarter worth about $1,079,000.

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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