K.J. Harrison & Partners Inc Purchases 731 Shares of Bank of America Co. (NYSE:BAC)

K.J. Harrison & Partners Inc raised its position in shares of Bank of America Co. (NYSE:BAC) by 6.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,970 shares of the financial services provider’s stock after acquiring an additional 731 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in Bank of America were worth $403,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Strategic Blueprint LLC boosted its position in shares of Bank of America by 13.0% in the 3rd quarter. Strategic Blueprint LLC now owns 15,050 shares of the financial services provider’s stock worth $412,000 after purchasing an additional 1,737 shares in the last quarter. CX Institutional boosted its position in shares of Bank of America by 11.7% in the 3rd quarter. CX Institutional now owns 37,026 shares of the financial services provider’s stock worth $1,014,000 after purchasing an additional 3,892 shares in the last quarter. KRS Capital Management LLC boosted its position in shares of Bank of America by 687.1% in the 3rd quarter. KRS Capital Management LLC now owns 56,021 shares of the financial services provider’s stock worth $1,534,000 after purchasing an additional 48,904 shares in the last quarter. Grimes & Company Inc. boosted its position in shares of Bank of America by 2.0% in the 3rd quarter. Grimes & Company Inc. now owns 298,390 shares of the financial services provider’s stock worth $8,170,000 after purchasing an additional 5,746 shares in the last quarter. Finally, Zullo Investment Group Inc. boosted its position in shares of Bank of America by 5.4% in the 3rd quarter. Zullo Investment Group Inc. now owns 15,200 shares of the financial services provider’s stock worth $416,000 after purchasing an additional 773 shares in the last quarter. 70.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on BAC. Jefferies Financial Group upped their price objective on Bank of America from $36.00 to $39.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Evercore ISI upped their price objective on Bank of America from $37.00 to $41.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Oppenheimer lowered their price objective on Bank of America from $46.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. BMO Capital Markets upped their price objective on Bank of America from $36.00 to $37.00 and gave the company a “market perform” rating in a research report on Thursday, April 18th. Finally, Wells Fargo & Company boosted their target price on shares of Bank of America from $40.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $38.53.

Bank of America Price Performance

Shares of Bank of America stock traded down $0.08 during trading on Friday, reaching $37.83. 28,668,680 shares of the stock traded hands, compared to its average volume of 40,953,860. The company has a market capitalization of $298.50 billion, a price-to-earnings ratio of 13.09, a P/E/G ratio of 1.70 and a beta of 1.39. The business has a fifty day simple moving average of $36.13 and a two-hundred day simple moving average of $32.72. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.79 and a quick ratio of 0.79. Bank of America Co. has a 52-week low of $24.96 and a 52-week high of $38.49.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. The firm had revenue of $25.82 billion during the quarter, compared to analyst estimates of $25.49 billion. Bank of America had a return on equity of 10.88% and a net margin of 13.94%. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.94 earnings per share. Sell-side analysts expect that Bank of America Co. will post 3.19 EPS for the current year.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a $0.24 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.96 annualized dividend and a yield of 2.54%. Bank of America’s dividend payout ratio is currently 33.22%.

Bank of America Profile

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. It operates in four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.