Bank of America Co. (NYSE:BAC) Short Interest Down 7.5% in October

Bank of America Co. (NYSE:BAC) had the lowest dividend yield in October. As of October 31st, there was a net interest of 79,280,000 shares, a decrease of 7.5% from the October 15th total of 85,720,000 shares. About 1.0% of the company’s shares are short traded. Based on the daily volume of 41,380,000 shares, the ratio of days to cover is 1.9 days.

Bank of America Trading Down 0.9%

NYSE BAC opened at $37.36 on Thursday. The stock has a market cap of $299.72 billion, a price-to-earnings ratio of 11.82, a PEG ratio of 1.72 and a beta of 1.38. The stock’s 50-day moving average is $34.05 and its 200-day average is $34.09. The company has a debt ratio of 1.12, a quick ratio of 0.76 and a current ratio of 0.76. Bank of America has a 52 week low of $29.31 and a 52 week high of $50.11.

Bank of America (NYSE:BAC – Get Rating ) last released its earnings results on Monday, October 17. The financial services provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.79 by $0.02. The company had revenue of $24.50 billion for the quarter, compared to analysts’ expectations of $23.46 billion. Bank of America had a profit margin of 11.36% and a margin of 26.52%. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period last year, the business posted $0.85 EPS. As a group, analysts expect that Bank of America will post 3.19 earnings per share for the current fiscal year.

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Bank of America Dividend Company Opinion

The business also disclosed a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 2nd will receive a dividend of $0.22 per share. The company paid $0.88 per share during the last period and the annual yield was 2.36 %. The due date is Thursday, December 1st. The company Bank of America contributed 27.85 %.

Industry Investors Weigh On Bank of America

A number of institutional investors and hedge funds have recently modified their positions in the stock. Kavar Capital Partners Group LLC raised its stake in shares of Bank of America by 1.7% in the second quarter. Kavar Capital Partners Group LLC now owns 16,611 shares of the financial services provider’s stock worth $517,000 after buying an additional 276 shares in the last quarter. Sage Mountain Advisors LLC boosted its holdings in shares of Bank of America by 3.3% in the third quarter. Sage Mountain Advisors LLC now owns 8,895 shares of the stock’s stock worth $269,000 after acquiring an additional 281 shares in the last quarter. Abbrea Capital LLC grew its stake in shares of Bank of America by 0.4% in the 1st quarter. Abbrea Capital LLC now owns 79,121 shares of the investment firm’s stock worth $3,261,000 after acquiring an additional 290 shares during the last quarter. Annapolis Financial Services LLC grew its holdings in shares of Bank of America by 2.2% in the third quarter. Annapolis Financial Services LLC now owns 13,785 shares of the stock’s stock worth $416,000 after acquiring an additional 292 shares in the last quarter. Finally, Leisure Capital Management boosted its holdings in shares of Bank of America by 1.5% in the third quarter. Leisure Capital Management now owns 20,055 shares of the stock’s stock worth $606,000 after acquiring an additional 292 shares during the last quarter. Investors own 68.48% of the company’s stock.

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Wall Street Analysts Forecast Growth

BAC has been the subject of several investigative reports. StockNews.com initiated coverage on Bank of America in a research report on Wednesday, October 12th. They gave the company a “hold” rating. Deutsche Bank Aktiengesellschaft dropped their target price on Bank of America from $51.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, September 12th. JPMorgan Chase & Co. raised their target price on Bank of America from $35.50 to $39.00 in a research report on Wednesday, November 2nd. Goldman Sachs Group dropped their target price on Bank of America from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, October 4th. Finally, Citigroup downgraded Bank of America from a “buy” rating to a “neutral” rating and set a $40.00 target price for the company. in a research report on Monday. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a “Moderate Buy” rating and an average target price of $44.68.

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More about Bank of America

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Bank of America Corporation, through its subsidiaries, provides banking and financial products and services to consumers, small and medium-sized businesses, institutional investors, large corporations, and governments worldwide. Its Consumer Banking division offers traditional and market savings accounts, certificates of deposit and IRAs, interest-free and interest-bearing accounts, savings and trading accounts; and credit cards, mortgages, and home loans, as well as direct and other loans, such as auto, recreational vehicle, and consumer loans.

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