Carleon Capital Partners LLC maintained its position in Bank of America Corporation (NYSE:BAC) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 48,000 shares of the financial services provider’s stock at the close of the 2nd quarter. Carleon Capital Partners LLC’s holdings in Bank of America Corporation were worth $1,167,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Tarbox Family Office Inc. lifted its position in Bank of America Corporation by 0.4% during the second quarter. Tarbox Family Office Inc. now owns 4,809 shares of the financial services provider’s stock valued at $117,000 after buying an additional 21 shares in the last quarter. Capital Management Corp VA lifted its position in Bank of America Corporation by 0.3% during the first quarter. Capital Management Corp VA now owns 10,352 shares of the financial services provider’s stock valued at $244,000 after buying an additional 33 shares in the last quarter. Welch Group LLC lifted its position in Bank of America Corporation by 0.4% during the first quarter. Welch Group LLC now owns 10,035 shares of the financial services provider’s stock valued at $237,000 after buying an additional 42 shares in the last quarter. Arbor Investment Advisors LLC lifted its position in Bank of America Corporation by 0.3% during the second quarter. Arbor Investment Advisors LLC now owns 14,328 shares of the financial services provider’s stock valued at $348,000 after buying an additional 46 shares in the last quarter. Finally, Tiemann Investment Advisors LLC lifted its position in Bank of America Corporation by 0.3% during the first quarter. Tiemann Investment Advisors LLC now owns 19,903 shares of the financial services provider’s stock valued at $470,000 after buying an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 61.63% of the company’s stock.

Shares of Bank of America Corporation (NYSE:BAC) opened at 24.76 on Tuesday. The firm has a market cap of $260.39 billion, a P/E ratio of 14.75 and a beta of 1.26. The company has a 50-day moving average of $24.04 and a 200 day moving average of $23.79. Bank of America Corporation has a 12-month low of $14.81 and a 12-month high of $25.80.

Bank of America Corporation (NYSE:BAC) last announced its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.46 EPS for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.03. The firm had revenue of $22.80 billion during the quarter, compared to analyst estimates 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 revenue was up 7.1% on a year-over-year basis. During the same period last year, the company earned $0.41 earnings per share. Equities analysts predict that Bank of America Corporation will post $1.81 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.94%. This is a positive change from Bank of America Corporation’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Wednesday, August 30th. Bank of America Corporation’s dividend payout ratio (DPR) is presently 28.57%.

Bank of America Corporation announced that its Board of Directors has approved a share buyback program on Wednesday, June 28th that permits the company to repurchase $12.00 billion in 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 usually an indication that the company’s leadership believes its shares are undervalued.

In related news, Director Frank P. Bramble sold 86,763 shares of Bank of America Corporation stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $24.16, for a total value of $2,096,194.08. Following the completion of the sale, the director now directly owns 50,000 shares in the company, valued at $1,208,000. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.18% of the stock is owned by company insiders.

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A number of research analysts have weighed in on BAC shares. Credit Suisse Group reaffirmed a “buy” rating on shares of Bank of America Corporation in a research report on Sunday, June 4th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $27.00 price target on shares of Bank of America Corporation in a research report on Wednesday, June 7th. Vetr cut shares of Bank of America Corporation from a “buy” rating to a “hold” rating and set a $24.20 price target on the stock. in a research report on Monday, June 12th. Deutsche Bank AG reaffirmed a “hold” rating on shares of Bank of America Corporation in a research report on Monday, July 3rd. Finally, BidaskClub raised shares of Bank of America Corporation from a “hold” rating to a “buy” rating in a research report on Friday, July 7th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $24.63.

Bank of America Corporation Company Profile

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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