Kempner Capital Management Inc. Purchases 650 Shares of Bank of America Co. (NYSE:BAC)

Kempner Capital Management Inc. raised its position in Bank of America Co. (NYSE:BAC) by 0.4% during the 1st quarter, HoldingsChannel.com reports. The firm owned 154,349 shares of the financial services provider’s stock after acquiring an additional 650 shares during the period. Bank of America accounts for about 3.5% of Kempner Capital Management Inc.’s portfolio, making the stock its 6th largest position. Kempner Capital Management Inc.’s holdings in Bank of America were worth $6,362,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Foresight Wealth Management LLC boosted its holdings in Bank of America by 1.1% in the 4th quarter. Foresight Wealth Management LLC now owns 19,251 shares of the financial services provider’s stock valued at $856,000 after purchasing an additional 209 shares during the last quarter. Ranch Capital Advisors Inc. lifted its holdings in shares of Bank of America by 1.5% in the 4th quarter. Ranch Capital Advisors Inc. now owns 14,331 shares of the financial services provider’s stock worth $638,000 after acquiring an additional 210 shares during the last quarter. Wolff Wiese Magana LLC lifted its holdings in shares of Bank of America by 3.1% in the 4th quarter. Wolff Wiese Magana LLC now owns 7,085 shares of the financial services provider’s stock worth $316,000 after acquiring an additional 212 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc. lifted its holdings in shares of Bank of America by 2.7% in the 4th quarter. Texas Capital Bank Wealth Management Services Inc. now owns 8,447 shares of the financial services provider’s stock worth $376,000 after acquiring an additional 226 shares during the last quarter. Finally, Fieldpoint Private Securities LLC lifted its holdings in shares of Bank of America by 1.8% in the 4th quarter. Fieldpoint Private Securities LLC now owns 13,020 shares of the financial services provider’s stock worth $579,000 after acquiring an additional 235 shares during the last quarter. Institutional investors own 70.46% of the company’s stock.

BAC has been the topic of several recent research reports. Oppenheimer cut their target price on shares of Bank of America from $52.00 to $50.00 in a research note on Tuesday, May 3rd. The Goldman Sachs Group cut their target price on shares of Bank of America from $52.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, April 20th. Royal Bank of Canada cut their target price on shares of Bank of America from $51.00 to $45.00 in a research note on Tuesday, June 14th. Robert W. Baird raised shares of Bank of America from an “underperform” rating to a “neutral” rating and set a $42.00 price objective on the stock in a research report on Tuesday, March 8th. Finally, Piper Sandler dropped their price objective on shares of Bank of America from $57.00 to $51.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 5th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $50.10.

NYSE:BAC opened at $32.55 on Thursday. The company has a market capitalization of $262.25 billion, a P/E ratio of 9.31, a price-to-earnings-growth ratio of 1.40 and a beta of 1.38. Bank of America Co. has a twelve month low of $30.86 and a twelve month high of $50.11. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 1.16. The firm has a 50-day moving average price of $35.77 and a two-hundred day moving average price of $41.44.

Bank of America (NYSE:BACGet Rating) last posted its earnings results on Monday, April 18th. The financial services provider reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.04. The business had revenue of $23.20 billion for the quarter, compared to analysts’ expectations of $23.09 billion. Bank of America had a net margin of 32.84% and a return on equity of 12.55%. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.86 earnings per share. On average, equities research analysts predict that Bank of America Co. will post 3.34 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 24th. Shareholders of record on Friday, June 3rd will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, June 2nd. This represents a $0.84 annualized dividend and a yield of 2.58%. Bank of America’s payout ratio is presently 24.00%.

Bank of America Profile (Get Rating)

Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. Its Consumer Banking segment offers traditional and money market savings accounts, certificates of deposit and IRAs, noninterest-and interest-bearing checking accounts, and investment accounts and products; and credit and debit cards, residential mortgages, and home equity loans, as well as direct and indirect loans, such as automotive, recreational vehicle, and consumer personal loans.

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

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