WoodTrust Financial Corp Raises Stock Holdings in Bank of America Co. (NYSE:BAC)

WoodTrust Financial Corp boosted its holdings in Bank of America Co. (NYSE:BAC) by 185.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,230 shares of the financial services provider’s stock after purchasing an additional 15,096 shares during the period. WoodTrust Financial Corp’s holdings in Bank of America were worth $881,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Griffin Asset Management Inc. boosted its holdings in Bank of America by 0.3% in the first quarter. Griffin Asset Management Inc. now owns 324,954 shares of the financial services provider’s stock valued at $12,322,000 after purchasing an additional 1,080 shares during the last quarter. MCF Advisors LLC lifted its holdings in Bank of America by 34.1% during the 1st quarter. MCF Advisors LLC now owns 48,583 shares of the financial services provider’s stock worth $1,842,000 after buying an additional 12,351 shares during the last quarter. Trifecta Capital Advisors LLC lifted its holdings in Bank of America by 132.6% during the 1st quarter. Trifecta Capital Advisors LLC now owns 3,508 shares of the financial services provider’s stock worth $133,000 after buying an additional 2,000 shares during the last quarter. Hodges Capital Management Inc. lifted its holdings in Bank of America by 36.0% during the 1st quarter. Hodges Capital Management Inc. now owns 141,461 shares of the financial services provider’s stock worth $5,364,000 after buying an additional 37,430 shares during the last quarter. Finally, Avity Investment Management Inc. lifted its holdings in Bank of America by 4.8% during the 1st quarter. Avity Investment Management Inc. now owns 54,750 shares of the financial services provider’s stock worth $2,076,000 after buying an additional 2,500 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on BAC shares. BMO Capital Markets increased their target price on Bank of America from $36.00 to $37.00 and gave the stock a “market perform” rating in a report on Thursday, April 18th. Evercore ISI increased their price target on Bank of America from $37.00 to $41.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. HSBC reiterated a “hold” rating and set a $39.00 price target (up from $38.00) on shares of Bank of America in a research report on Thursday, March 28th. Citigroup increased their price target on Bank of America from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Finally, Erste Group Bank upgraded Bank of America from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $39.79.

Bank of America Price Performance

Shares of BAC stock traded up $0.52 during mid-day trading on Friday, hitting $39.77. 52,028,200 shares of the stock traded hands, compared to its average volume of 35,164,596. Bank of America Co. has a twelve month low of $24.96 and a twelve month high of $40.34. The firm has a market cap of $311.02 billion, a price-to-earnings ratio of 13.76, a price-to-earnings-growth ratio of 1.50 and a beta of 1.36. The company’s 50-day simple moving average is $38.91 and its 200-day simple moving average is $36.06. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.79 and a current ratio of 0.79.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.06. Bank of America had a return on equity of 10.88% and a net margin of 13.94%. The company had revenue of $25.82 billion for the quarter, compared to analysts’ expectations of $25.49 billion. During the same period last year, the firm earned $0.94 EPS. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. As a group, equities research analysts expect that Bank of America Co. will post 3.22 earnings per share for the current year.

Bank of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.41%. The ex-dividend date was Friday, June 7th. Bank of America’s dividend payout ratio is presently 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.