GenTrust LLC Has $377,000 Stock Holdings in Bank of America Co. (NYSE:BAC)

GenTrust LLC lifted its holdings in shares of Bank of America Co. (NYSE:BAC) by 11.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,931 shares of the financial services provider’s stock after buying an additional 1,000 shares during the quarter. GenTrust LLC’s holdings in Bank of America were worth $377,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Fortis Group Advisors LLC bought a new position in Bank of America during the 3rd quarter worth approximately $25,000. Livelsberger Financial Advisory acquired a new position in shares of Bank of America in the 4th quarter valued at $28,000. Criterion Capital Advisors LLC bought a new stake in shares of Bank of America in the 4th quarter valued at $32,000. Northwest Investment Counselors LLC acquired a new stake in Bank of America during the 1st quarter worth $33,000. Finally, Mark Sheptoff Financial Planning LLC lifted its holdings in Bank of America by 431.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 1,062 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 862 shares in the last quarter. 70.71% of the stock is owned by institutional investors.

Bank of America Stock Down 0.1 %

Shares of NYSE:BAC traded down $0.03 during trading on Thursday, reaching $40.90. 17,100,666 shares of the stock were exchanged, compared to its average volume of 35,032,784. Bank of America Co. has a 1-year low of $24.96 and a 1-year high of $41.20. The firm has a market cap of $319.85 billion, a price-to-earnings ratio of 14.15, a price-to-earnings-growth ratio of 1.56 and a beta of 1.35. The stock has a fifty day moving average of $39.06 and a two-hundred day moving average of $36.25. 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 (NYSE:BAC) last posted its earnings results 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. 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 analyst estimates of $25.49 billion. During the same quarter last year, the company earned $0.94 earnings per share. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. Research analysts anticipate that Bank of America Co. will post 3.22 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend was Friday, June 7th. Bank of America’s payout ratio is currently 33.22%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Oppenheimer upped their price target on shares of Bank of America from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Tuesday, April 30th. Jefferies Financial Group lifted their target price on Bank of America from $39.00 to $41.00 and gave the company a “hold” rating in a research report on Wednesday. Evercore ISI increased their price target on shares of Bank of America from $41.00 to $43.00 and gave the company an “outperform” rating in a research note on Wednesday. UBS Group reiterated a “neutral” rating and issued a $40.00 target price (up from $39.00) on shares of Bank of America in a research note on Thursday, April 4th. Finally, Wolfe Research upgraded Bank of America from a “peer perform” rating to an “outperform” rating and set a $42.00 price objective on the stock in a research note on Friday, April 19th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $40.02.

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.