FDx Advisors Inc. lifted its position in shares of Bank of America Corp (NYSE:BAC) by 55.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 285,806 shares of the financial services provider’s stock after acquiring an additional 101,970 shares during the period. FDx Advisors Inc.’s holdings in Bank of America were worth $7,042,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. grew its stake in shares of Bank of America by 10.5% in the 3rd quarter. Bessemer Group Inc. now owns 50,676 shares of the financial services provider’s stock valued at $1,492,000 after buying an additional 4,833 shares during the period. Keystone Financial Group grew its stake in shares of Bank of America by 132.6% in the 3rd quarter. Keystone Financial Group now owns 19,298 shares of the financial services provider’s stock valued at $572,000 after buying an additional 11,000 shares during the period. Advisor Partners LLC grew its stake in shares of Bank of America by 5.8% in the 3rd quarter. Advisor Partners LLC now owns 250,231 shares of the financial services provider’s stock valued at $7,372,000 after buying an additional 13,752 shares during the period. Macguire Cheswick & Tuttle Investment Counsel LLC grew its stake in shares of Bank of America by 4.7% in the 3rd quarter. Macguire Cheswick & Tuttle Investment Counsel LLC now owns 81,808 shares of the financial services provider’s stock valued at $2,410,000 after buying an additional 3,650 shares during the period. Finally, Landmark Financial Advisors LLC grew its stake in shares of Bank of America by 32.5% in the 3rd quarter. Landmark Financial Advisors LLC now owns 14,876 shares of the financial services provider’s stock valued at $438,000 after buying an additional 3,649 shares during the period. Institutional investors and hedge funds own 64.22% of the company’s stock.
Several research firms have recently weighed in on BAC. ValuEngine cut shares of Bank of America from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Zacks Investment Research upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a report on Monday, January 21st. Jefferies Financial Group upped their price objective on shares of Bank of America from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, January 18th. Barclays restated a “hold” rating on shares of Bank of America in a report on Thursday, January 17th. Finally, Wells Fargo & Co set a $36.00 price objective on shares of Bank of America and gave the stock a “buy” rating in a report on Wednesday, January 16th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $33.18.
Shares of BAC stock opened at $29.30 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.94. Bank of America Corp has a one year low of $22.66 and a one year high of $32.57. The company has a market capitalization of $300.14 billion, a PE ratio of 11.23, a P/E/G ratio of 1.27 and a beta of 1.49.
Bank of America (NYSE:BAC) last issued its quarterly earnings data on Wednesday, January 16th. The financial services provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07. Bank of America had a net margin of 25.45% and a return on equity of 11.66%. The firm had revenue of $22.89 billion for the quarter, compared to analyst estimates of $22.37 billion. During the same period in the prior year, the business posted $0.48 EPS. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. Equities analysts expect that Bank of America Corp will post 2.84 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 1st will be issued a $0.15 dividend. The ex-dividend date of this dividend is Thursday, February 28th. This represents a $0.60 annualized dividend and a dividend yield of 2.05%. Bank of America’s dividend payout ratio is currently 22.99%.
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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 through four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.
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