Bank Hapoalim BM purchased a new position in shares of Bank of America Corporation (NYSE:BAC) during the first quarter, according to its most recent filing with the SEC. The firm purchased 42,345 shares of the financial services provider’s stock, valued at approximately $999,000.

A number of other large investors also recently added to or reduced their stakes in BAC. Dodge & Cox purchased a new position in shares of Bank of America Corporation during the fourth quarter worth $4,159,570,000. Norges Bank purchased a new position in shares of Bank of America Corporation during the fourth quarter worth $2,256,221,000. Boston Partners raised its position in shares of Bank of America Corporation by 0.5% in the first quarter. Boston Partners now owns 75,404,921 shares of the financial services provider’s stock worth $1,778,802,000 after buying an additional 368,898 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in shares of Bank of America Corporation by 25.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 42,249,666 shares of the financial services provider’s stock worth $933,718,000 after buying an additional 8,595,423 shares during the last quarter. Finally, Teachers Advisors LLC raised its position in shares of Bank of America Corporation by 12.3% in the fourth quarter. Teachers Advisors LLC now owns 31,279,206 shares of the financial services provider’s stock worth $691,270,000 after buying an additional 3,414,898 shares during the last quarter. 66.42% of the stock is currently owned by hedge funds and other institutional investors.

Bank of America Corporation (NYSE:BAC) opened at 24.97 on Monday. Bank of America Corporation has a 52-week low of $14.10 and a 52-week high of $25.80. The firm has a 50-day moving average price of $24.01 and a 200 day moving average price of $23.69. The firm has a market capitalization of $262.60 billion, a P/E ratio of 14.87 and a beta of 1.27.

Bank of America Corporation (NYSE:BAC) last released its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. The company had revenue of $22.80 billion for the quarter, compared to the consensus estimate of $21.84 billion. Bank of America Corporation had a return on equity of 8.11% and a net margin of 20.28%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the business posted $0.41 EPS. Analysts forecast that Bank of America Corporation will post $1.82 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.92%. This is an increase from Bank of America Corporation’s previous quarterly dividend of $0.08. The ex-dividend date is Wednesday, August 30th. Bank of America Corporation’s dividend payout ratio (DPR) is 17.86%.

Bank of America Corporation declared that its board has approved a share repurchase program on Wednesday, June 28th that permits the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 4.8% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

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A number of research analysts have weighed in on BAC shares. Keefe, Bruyette & Woods restated a “buy” rating and issued a $27.00 price objective on shares of Bank of America Corporation in a report on Wednesday, June 7th. Credit Suisse Group restated a “buy” rating on shares of Bank of America Corporation in a report on Sunday, June 4th. Jefferies Group LLC restated a “buy” rating and issued a $28.00 price objective on shares of Bank of America Corporation in a report on Friday, May 5th. Vetr lowered Bank of America Corporation from a “strong-buy” rating to a “buy” rating and set a $26.28 price objective on the stock. in a report on Tuesday, May 2nd. Finally, Nomura restated a “buy” rating on shares of Bank of America Corporation in a report on Wednesday, April 19th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the stock. Bank of America Corporation has a consensus rating of “Buy” and an average target price of $23.74.

About Bank of America Corporation

Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers and others with a range of banking, investing, asset management and other financial and risk management products and services. The Company, through its banking and various non-bank subsidiaries, throughout the United States and in international markets, provides a range of banking and non-bank financial services and products through four business segments: Consumer Banking, which comprises Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S.

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Institutional Ownership by Quarter for Bank of America Corporation (NYSE:BAC)

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