Howland Capital Management LLC Has $1.91 Million Stock Position in Bank of America Co. (NYSE:BAC)

Howland Capital Management LLC decreased its stake in Bank of America Co. (NYSE:BAC) by 0.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 50,460 shares of the financial services provider’s stock after selling 450 shares during the quarter. Howland Capital Management LLC’s holdings in Bank of America were worth $1,913,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of BAC. Norges Bank acquired a new stake in Bank of America during the 4th quarter worth about $3,734,407,000. Price T Rowe Associates Inc. MD boosted its position in Bank of America by 10.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 104,030,844 shares of the financial services provider’s stock worth $3,502,720,000 after acquiring an additional 9,879,524 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Bank of America by 3.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 41,833,075 shares of the financial services provider’s stock worth $1,408,520,000 after acquiring an additional 1,315,056 shares during the period. Parnassus Investments LLC boosted its position in Bank of America by 7.8% during the 4th quarter. Parnassus Investments LLC now owns 40,508,709 shares of the financial services provider’s stock worth $1,363,928,000 after acquiring an additional 2,935,040 shares during the period. Finally, Capital World Investors boosted its position in Bank of America by 12.1% during the 4th quarter. Capital World Investors now owns 40,189,379 shares of the financial services provider’s stock worth $1,353,216,000 after acquiring an additional 4,338,679 shares during the period. Institutional investors and hedge funds own 70.71% of the company’s stock.

Wall Street Analysts Forecast Growth

BAC has been the subject of a number of recent research reports. Erste Group Bank raised Bank of America from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Oppenheimer raised their price objective on Bank of America from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Tuesday, April 30th. StockNews.com downgraded Bank of America from a “hold” rating to a “sell” rating in a research report on Monday, May 20th. BMO Capital Markets lifted their price target on Bank of America from $36.00 to $37.00 and gave the stock a “market perform” rating in a research report on Thursday, April 18th. Finally, JPMorgan Chase & Co. lifted their price objective on Bank of America from $39.50 to $40.50 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $40.41.

Bank of America Trading Up 0.2 %

Shares of BAC stock traded up $0.07 on Thursday, reaching $41.81. 33,806,949 shares of the stock were exchanged, compared to its average volume of 38,299,113. The stock has a market cap of $326.97 billion, a PE ratio of 14.47, a P/E/G ratio of 1.55 and a beta of 1.35. Bank of America Co. has a one year low of $24.96 and a one year high of $41.90. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a 50 day moving average price of $39.41 and a 200 day moving average price of $36.52.

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

Bank of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.96 dividend on an annualized basis and a yield of 2.30%. 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.