American Financial Advisors LLC Acquires Shares of 9,814 Bank of America Co. (NYSE:BAC)

American Financial Advisors LLC acquired a new stake in shares of Bank of America Co. (NYSE:BAC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,814 shares of the financial services provider’s stock, valued at approximately $330,000.

Several other institutional investors have also added to or reduced their stakes in BAC. Fortis Group Advisors LLC purchased a new stake in shares of Bank of America in the third quarter worth about $25,000. Castleview Partners LLC bought a new position in Bank of America during the first quarter valued at approximately $28,000. Glass Jacobson Investment Advisors llc boosted its stake in shares of Bank of America by 98.1% during the third quarter. Glass Jacobson Investment Advisors llc now owns 1,018 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 504 shares during the period. ZRC Wealth Management LLC boosted its stake in shares of Bank of America by 192.3% during the fourth quarter. ZRC Wealth Management LLC now owns 1,140 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 750 shares during the period. Finally, Live Oak Investment Partners purchased a new stake in shares of Bank of America during the fourth quarter valued at approximately $39,000. 70.71% of the stock is owned by hedge funds and other institutional investors.

Bank of America Stock Performance

NYSE BAC traded up $1.20 during trading hours on Friday, hitting $36.97. The company’s stock had a trading volume of 56,242,939 shares, compared to its average volume of 41,782,625. The company’s 50 day simple moving average is $35.61 and its two-hundred day simple moving average is $32.24. The company has a market cap of $291.72 billion, a P/E ratio of 12.81, a price-to-earnings-growth ratio of 1.59 and a beta of 1.39. Bank of America Co. has a 12 month low of $24.96 and a 12 month high of $38.35. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.79 and a quick ratio of 0.80.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. The business had revenue of $25.82 billion during the quarter, compared to the consensus estimate of $25.49 billion. Bank of America had a return on equity of 10.88% and a net margin of 13.94%. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.94 EPS. As a group, sell-side analysts expect that Bank of America Co. will post 3.16 EPS for the current fiscal year.

Bank of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 1st were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.60%. Bank of America’s payout ratio is currently 33.22%.

Wall Street Analysts Forecast Growth

BAC has been the subject of a number of research analyst reports. BMO Capital Markets raised their price target on Bank of America from $36.00 to $37.00 and gave the stock a “market perform” rating in a research note on Thursday. HSBC reaffirmed a “hold” rating and issued a $39.00 price target (up previously from $38.00) on shares of Bank of America in a research note on Thursday, March 28th. Oppenheimer dropped 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. Citigroup raised their price target on Bank of America from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. Finally, Jefferies Financial Group raised their price target on Bank of America from $36.00 to $39.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $38.53.

Bank of America Company 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.