Traders sold shares of Bank of America Corp. (NYSE:BAC) on strength during trading hours on Tuesday. $159.10 million flowed into the stock on the tick-up and $190.40 million flowed out of the stock on the tick-down, for a money net flow of $31.30 million out of the stock. Of all stocks tracked, Bank of America Corp. had the 0th highest net out-flow for the day. Bank of America Corp. traded up $0.01 for the day and closed at $15.60

BAC has been the subject of several analyst reports. Sanford C. Bernstein restated a “buy” rating on shares of Bank of America Corp. in a research report on Monday, June 20th. Buckingham Research restated a “buy” rating on shares of Bank of America Corp. in a research report on Tuesday, June 21st. Vetr upgraded Bank of America Corp. from a “hold” rating to a “buy” rating and set a $15.29 target price for the company in a research report on Monday, June 6th. Deutsche Bank AG restated a “buy” rating on shares of Bank of America Corp. in a research report on Saturday, June 4th. Finally, TheStreet upgraded Bank of America Corp. to a “buy” rating in a research report on Thursday, May 26th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-one have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $25.04.

The company has a market capitalization of $164.06 billion, a PE ratio of 13.08 and a beta of 1.67. The firm’s 50 day moving average price is $15.40 and its 200-day moving average price is $14.29.

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Bank of America Corp. (NYSE:BAC) last posted its earnings results on Monday, July 18th. The financial services provider reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.03. Bank of America Corp. had a return on equity of 6.23% and a net margin of 16.31%. The company had revenue of $20.60 million for the quarter, compared to analyst estimates of $20.41 billion. During the same quarter last year, the company earned $0.45 earnings per share. The company’s revenue for the quarter was down 7.2% on a year-over-year basis. Analysts anticipate that Bank of America Corp. will post $1.26 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, September 2nd will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Wednesday, August 31st. This is a positive change from Bank of America Corp.’s previous quarterly dividend of $0.05. Bank of America Corp.’s dividend payout ratio (DPR) is currently 24.59%.

In related news, Director Thomas D. Woods bought 25,000 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The shares were bought at an average price of $14.13 per share, for a total transaction of $353,250.00. Following the completion of the acquisition, the director now directly owns 32,459 shares of the company’s stock, valued at $458,645.67. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.18% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the company. Dodge & Cox raised its stake in shares of Bank of America Corp. by 15.4% in the first quarter. Dodge & Cox now owns 215,803,933 shares of the financial services provider’s stock worth $2,917,669,000 after buying an additional 28,729,070 shares during the period. Emerald Acquisition Ltd. acquired a new stake in shares of Bank of America Corp. during the second quarter worth approximately $364,977,000. Societe Generale acquired a new stake in shares of Bank of America Corp. during the second quarter worth approximately $151,627,000. Vanguard Group Inc. raised its stake in shares of Bank of America Corp. by 1.6% in the second quarter. Vanguard Group Inc. now owns 610,454,858 shares of the financial services provider’s stock worth $8,100,737,000 after buying an additional 9,325,426 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake in shares of Bank of America Corp. by 16.8% in the first quarter. Canada Pension Plan Investment Board now owns 47,215,349 shares of the financial services provider’s stock worth $638,352,000 after buying an additional 6,801,200 shares during the period. Institutional investors and hedge funds own 60.68% of the company’s stock.

About Bank of America Corp.

Bank of America Corporation is a bank holding and financial holding company. The Company is a financial institution, serving individual consumers, small- and middle-market businesses, institutional investors, corporations and governments with various banking, investing, asset management and other financial and risk management products and services.

5 Day Chart for NYSE:BAC

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