Johanson Financial Advisors Inc. boosted its position in shares of Bank of America Corp (NYSE:BAC) by 15.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,326 shares of the financial services provider’s stock after purchasing an additional 2,622 shares during the quarter. Johanson Financial Advisors Inc.’s holdings in Bank of America were worth $573,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Pennsylvania Trust Co grew its holdings in Bank of America by 147.7% during the fourth quarter. Pennsylvania Trust Co now owns 277,161 shares of the financial services provider’s stock valued at $8,191,000 after purchasing an additional 165,252 shares during the period. Atria Investments LLC grew its holdings in Bank of America by 4.5% during the fourth quarter. Atria Investments LLC now owns 126,645 shares of the financial services provider’s stock valued at $3,739,000 after purchasing an additional 5,503 shares during the period. Ayalon Holdings Ltd. acquired a new position in Bank of America during the fourth quarter valued at approximately $1,094,000. Starfire Investment Advisers Inc. acquired a new position in Bank of America during the fourth quarter valued at approximately $392,000. Finally, CMH Wealth Management LLC acquired a new position in Bank of America during the fourth quarter valued at approximately $1,898,000. Hedge funds and other institutional investors own 68.67% of the company’s stock.
Shares of Bank of America Corp (NYSE BAC) opened at $31.97 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.93. The company has a market cap of $328,884.97, a price-to-earnings ratio of 20.63, a PEG ratio of 1.62 and a beta of 1.41. Bank of America Corp has a 1 year low of $22.07 and a 1 year high of $32.67.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 2nd will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date is Thursday, March 1st. Bank of America’s dividend payout ratio is presently 30.97%.
Bank of America announced that its Board of Directors has approved a share buyback program on Tuesday, December 5th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.
A number of brokerages recently issued reports on BAC. ValuEngine upgraded shares of Bank of America from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Morgan Stanley boosted their price objective on shares of Bank of America from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Vetr upgraded shares of Bank of America from a “strong sell” rating to a “sell” rating and set a $31.16 price objective for the company in a report on Monday. Royal Bank of Canada lifted their price target on shares of Bank of America to $35.00 and gave the company an “outperform” rating in a research note on Thursday, January 18th. Finally, Zacks Investment Research lowered shares of Bank of America from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Bank of America currently has an average rating of “Buy” and a consensus price target of $30.21.
Bank of America Company Profile
Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers and others with a range of banking, investing, asset management and other financial and risk management products and services. The Company, through its banking and various non-bank subsidiaries, throughout the United States and in international markets, provides a range of banking and non-bank financial services and products through four business segments: Consumer Banking, which comprises Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S.
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