Birch Hill Investment Advisors LLC increased its holdings in shares of Bank of America Corp (NYSE:BAC) by 8.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,019,385 shares of the financial services provider’s stock after buying an additional 80,890 shares during the period. Bank of America comprises 2.2% of Birch Hill Investment Advisors LLC’s investment portfolio, making the stock its 20th largest holding. Birch Hill Investment Advisors LLC’s holdings in Bank of America were worth $24,730,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new position in shares of Bank of America in the 2nd quarter valued at $100,000. Armbruster Capital Management Inc. boosted its holdings in shares of Bank of America by 10.8% in the 1st quarter. Armbruster Capital Management Inc. now owns 4,323 shares of the financial services provider’s stock valued at $102,000 after buying an additional 423 shares in the last quarter. Chicago Partners Investment Group LLC boosted its holdings in shares of Bank of America by 11.0% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 4,531 shares of the financial services provider’s stock valued at $103,000 after buying an additional 450 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its holdings in shares of Bank of America by 47.1% in the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 5,780 shares of the financial services provider’s stock valued at $140,000 after buying an additional 1,850 shares in the last quarter. Finally, Lenox Wealth Advisors Inc. acquired a new position in shares of Bank of America in the 2nd quarter valued at $144,000. 68.10% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have recently commented on BAC. J P Morgan Chase & Co raised their target price on shares of Bank of America from $27.50 to $28.50 and gave the stock an “overweight” rating in a research note on Wednesday, November 1st. Vetr upgraded shares of Bank of America from a “sell” rating to a “strong-buy” rating and set a $33.96 target price for the company in a research note on Tuesday, November 7th. Robert W. Baird restated a “hold” rating and issued a $24.00 target price on shares of Bank of America in a research note on Friday, August 25th. UBS set a $27.00 price target on shares of Bank of America and gave the company a “hold” rating in a report on Monday, October 16th. Finally, Credit Suisse Group reiterated an “outperform” rating on shares of Bank of America in a report on Tuesday, October 10th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-four have issued a buy rating and three have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $26.25.

Shares of Bank of America Corp (BAC) traded down $0.11 during mid-day trading on Friday, reaching $28.17. 121,755,906 shares of the company’s stock were exchanged, compared to its average volume of 79,237,023. The firm has a market capitalization of $293,100.00, a PE ratio of 15.79, a price-to-earnings-growth ratio of 1.91 and a beta of 1.31. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.91. Bank of America Corp has a 1 year low of $20.25 and a 1 year high of $28.72.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. The company had revenue of $22.08 billion for the quarter, compared to analyst estimates of $22.07 billion. Bank of America had a net margin of 25.58% and a return on equity of 8.29%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 earnings per share. research analysts anticipate that Bank of America Corp will post 1.81 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be paid a dividend of $0.12 per share. The ex-dividend date is Thursday, November 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.70%. Bank of America’s dividend payout ratio is currently 27.91%.

ILLEGAL ACTIVITY NOTICE: “Bank of America Corp (BAC) Stake Boosted by Birch Hill Investment Advisors LLC” was originally posted by Daily Political and is the sole property of of Daily Political. If you are viewing this piece of content on another website, it was stolen and republished in violation of U.S. and international trademark and copyright law. The original version of this piece of content can be viewed at https://www.dailypolitical.com/2017/12/01/bank-of-america-corp-bac-stake-boosted-by-birch-hill-investment-advisors-llc.html.

Bank of America 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.

Want to see what other hedge funds are holding BAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of America Corp (NYSE:BAC).

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

Receive News & Ratings for Bank of America Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of America Corp and related companies with MarketBeat.com's FREE daily email newsletter.