Bank of America Corp (NYSE:BAC) announced the Board of Directors has authorized dividends on the following series of preferred stock:

A quarterly cash dividend of $0.38775 per depositary share on the 6.204 percent Non-Cumulative Preferred Stock, Series D, is payable on September 14 to shareholders of record as of August 31.

A quarterly cash dividend of $0.25556 per depositary share on the Floating Rate Non-Cumulative Preferred Stock, Series E, is payable on August 17, to shareholders of record as of July 31.

A quarterly cash dividend of $1,022.22222 per share on the Floating Rate Non-Cumulative Preferred Stock, Series F, is payable on September 15 to the shareholder of record as of August 31.

A quarterly cash dividend of $1,022.22222 per share on the Adjustable Rate Non-Cumulative Preferred Stock, Series G, is payable on September 15 to the shareholder of record as of August 31.

A quarterly cash dividend of $0.4140625 per depositary share on the 6.625 percent Non-Cumulative Preferred Stock, Series I, is payable on October 1 to shareholders of record as of September 15.

A semi-annual cash dividend of $40.00 per depositary share on the Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series K, is payable on July 30 to shareholders of record as of July 15.

A quarterly cash dividend of $0.4140625 per depositary share on the 6.625 percent Non-Cumulative Preferred Stock, Series W, is payable on September 9 to shareholders of record as of August 15.

A semi-annual cash dividend of $31.25 per depositary share on the Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series X, is payable on September 8 to shareholders of record as of August 15.

A semi-annual cash dividend of $30.50 per depositary share on the Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series AA, is payable on September 17 to shareholders of record as of September 1.

A quarterly cash dividend of $0.18750 per depositary share on the Floating Rate Non-Cumulative Preferred Stock, Series 1, is payable on August 28 to shareholders of record as of August 15.

A quarterly cash dividend of $0.19167 per depositary share on the Floating Rate Non-Cumulative Preferred Stock, Series 2, is payable on August 28 to shareholders of record as of August 15.

A quarterly cash dividend of $0.3984375 per depositary share on the 6.375 percent Non-Cumulative Preferred Stock, Series 3, is payable on August 28 to shareholders of record as of August 15.

A quarterly cash dividend of $0.25556 per depositary share on the Floating Rate Non-Cumulative Preferred Stock, Series 4, is payable on August 28 to shareholders of record as of August 15.

A quarterly cash dividend of $0.25556 per depositary share on the Floating Rate Non-Cumulative Preferred Stock, Series 5, is payable on August 21 to shareholders of record as of August 1. (Original Source)

Shares of Bank of America opened today at $16.53 and are currently trading down at $16.52. BAC has a 1-year high of $18.21 and a 1-year low of $14.84. The stock’s 50-day moving average is $17.05 and its 200-day moving average is $16.32.

On the ratings front, Bank of America has been the subject of a number of recent research reports. In a report issued on June 24, Deutsche Bank analyst Matt O’Connor maintained a Buy rating on BAC, with a price target of $18.50, which represents a potential upside of 11.9% from where the stock is currently trading. Separately, on June 17, Oppenheimer’s Chris Kotowski maintained a Buy rating on the stock and has a price target of $21.

According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Matt O’Connor and Chris Kotowski have a total average return of 3.7% and 2.2% respectively. O’Connor has a success rate of 66.2% and is ranked #1176 out of 3694 analysts, while Kotowski has a success rate of 66.7% and is ranked #1043.

Overall, 2 research analysts have assigned a Hold rating and 4 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $18.90 which is 14.3% above where the stock opened today.