St. Johns Investment Management Company LLC Has $3.64 Million Stock Holdings in Bank of America Co. (NYSE:BAC)

St. Johns Investment Management Company LLC lifted its stake in shares of Bank of America Co. (NYSE:BAC) by 1.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 96,036 shares of the financial services provider’s stock after purchasing an additional 1,380 shares during the period. Bank of America makes up about 1.7% of St. Johns Investment Management Company LLC’s holdings, making the stock its 14th biggest position. St. Johns Investment Management Company LLC’s holdings in Bank of America were worth $3,642,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several equities analysts have commented on BAC shares. BMO Capital Markets upped their price target on Bank of America from $36.00 to $37.00 and gave the company a “market perform” rating in a report on Thursday, April 18th. Keefe, Bruyette & Woods raised Bank of America from a “market perform” rating to an “outperform” rating and upped their price target for the company from $37.00 to $46.00 in a report on Friday, June 14th. Oppenheimer upped their price target on 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 upped their price objective on Bank of America from $36.00 to $39.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Finally, UBS Group reiterated a “neutral” rating and issued a $40.00 price objective (up from $39.00) on shares of Bank of America in a research note on Thursday, April 4th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Bank of America has an average rating of “Hold” and an average price target of $39.79.

Bank of America Stock Performance

Shares of Bank of America stock opened at $39.00 on Thursday. The company has a market capitalization of $304.99 billion, a PE ratio of 13.49, a PEG ratio of 1.50 and a beta of 1.36. Bank of America Co. has a 12 month low of $24.96 and a 12 month high of $40.34. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.12. The stock’s fifty day simple moving average is $38.71 and its 200 day simple moving average is $35.95.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.77 by $0.06. The business had revenue of $25.82 billion for 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 revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.94 EPS. On average, research analysts predict that Bank of America Co. will post 3.22 EPS for the current year.

Bank of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.46%. The ex-dividend date is Friday, June 7th. Bank of America’s dividend payout ratio is 33.22%.

Bank of America Company 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.