Integral Investment Advisors Inc. Takes Position in Bank of America Co. (NYSE:BAC)

Integral Investment Advisors Inc. purchased a new position in shares of Bank of America Co. (NYSE:BAC) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 7,935 shares of the financial services provider’s stock, valued at approximately $267,000.

Several other hedge funds have also made changes to their positions in the stock. Moneta Group Investment Advisors LLC boosted its holdings in shares of Bank of America by 108,111.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 193,168,025 shares of the financial services provider’s stock valued at $6,397,725,000 after acquiring an additional 192,989,515 shares during the period. Norges Bank bought a new stake in Bank of America in the 4th quarter valued at about $3,436,543,000. Northern Trust Corp boosted its stake in Bank of America by 2.1% during the 3rd quarter. Northern Trust Corp now owns 67,648,727 shares of the financial services provider’s stock valued at $1,852,222,000 after purchasing an additional 1,397,469 shares during the period. Barclays PLC increased its stake in shares of Bank of America by 97.3% in the third quarter. Barclays PLC now owns 41,290,694 shares of the financial services provider’s stock valued at $1,130,538,000 after purchasing an additional 20,362,295 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Bank of America by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 40,518,019 shares of the financial services provider’s stock valued at $1,109,383,000 after buying an additional 746,756 shares during the last quarter. Institutional investors own 70.71% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on BAC. Barclays increased their price objective on Bank of America from $39.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. HSBC reaffirmed a “hold” rating and issued a $39.00 price target (up from $38.00) on shares of Bank of America in a research note on Thursday, March 28th. Odeon Capital Group lowered shares of Bank of America from a “buy” rating to a “hold” rating and set a $33.90 price objective on the stock. in a research note on Tuesday, January 16th. Keefe, Bruyette & Woods upped their target price on Bank of America from $33.00 to $37.00 and gave the stock a “market perform” rating in a research report on Friday, April 5th. Finally, Oppenheimer decreased their price target on Bank of America from $46.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Bank of America has a consensus rating of “Hold” and a consensus price target of $38.29.

Bank of America Stock Up 1.8 %

NYSE:BAC traded up $0.63 on Thursday, hitting $35.86. 30,500,831 shares of the company’s stock traded hands, compared to its average volume of 41,378,727. The firm has a 50-day moving average price of $35.55 and a 200-day moving average price of $32.21. The company has a current ratio of 0.79, a quick ratio of 0.80 and a debt-to-equity ratio of 1.12. The company has a market cap of $282.96 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 1.58 and a beta of 1.39. Bank of America Co. has a 1 year low of $24.96 and a 1 year high of $38.35.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.06. Bank of America had a net margin of 13.94% and a return on equity of 10.88%. The firm had revenue of $25.82 billion for the quarter, compared to analyst estimates of $25.49 billion. During the same quarter in the prior year, the business earned $0.94 EPS. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. Equities analysts anticipate that Bank of America Co. will post 3.13 EPS for the current fiscal year.

Bank of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 1st were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.96 annualized dividend and a dividend yield of 2.68%. Bank of America’s dividend payout ratio is 33.22%.

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 in four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.