Bank of America Co. (NYSE:BAC) Shares Acquired by Hyman Charles D

Hyman Charles D boosted its holdings in shares of Bank of America Co. (NYSE:BAC) by 3.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 251,089 shares of the financial services provider’s stock after purchasing an additional 8,333 shares during the period. Hyman Charles D’s holdings in Bank of America were worth $8,454,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BAC. Schechter Investment Advisors LLC lifted its position in shares of Bank of America by 8.2% in the 3rd quarter. Schechter Investment Advisors LLC now owns 55,348 shares of the financial services provider’s stock valued at $1,515,000 after acquiring an additional 4,187 shares in the last quarter. Auxano Advisors LLC lifted its position in shares of Bank of America by 234.5% in the 4th quarter. Auxano Advisors LLC now owns 27,356 shares of the financial services provider’s stock valued at $921,000 after acquiring an additional 19,179 shares in the last quarter. Stonebridge Capital Advisors LLC lifted its position in shares of Bank of America by 3.7% in the 3rd quarter. Stonebridge Capital Advisors LLC now owns 65,495 shares of the financial services provider’s stock valued at $1,793,000 after acquiring an additional 2,332 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its position in shares of Bank of America by 228.3% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 67,511 shares of the financial services provider’s stock valued at $2,273,000 after acquiring an additional 46,950 shares in the last quarter. Finally, DiNuzzo Private Wealth Inc. purchased a new stake in Bank of America in the 4th quarter worth approximately $105,000. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America Stock Performance

NYSE:BAC traded down $0.14 during midday trading on Wednesday, reaching $37.70. The stock had a trading volume of 32,799,608 shares, compared to its average volume of 40,510,223. Bank of America Co. has a 1-year low of $24.96 and a 1-year high of $38.49. The firm’s fifty day simple moving average is $36.61 and its 200-day simple moving average is $33.31. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a market capitalization of $294.83 billion, a P/E ratio of 13.04, a PEG ratio of 1.66 and a beta of 1.37.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $25.49 billion. During the same period in the prior year, the firm earned $0.94 EPS. The business’s revenue was down 1.7% on a year-over-year basis. On average, equities research analysts forecast that Bank of America Co. will post 3.21 EPS for the current fiscal year.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date is Friday, June 7th. Bank of America’s dividend payout ratio (DPR) is presently 33.22%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BAC. Morgan Stanley upgraded shares of Bank of America from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $32.00 to $41.00 in a research report on Tuesday, January 30th. BMO Capital Markets increased their target price on shares of Bank of America from $36.00 to $37.00 and gave the stock a “market perform” rating in a research report on Thursday, April 18th. Oppenheimer increased their target price on shares of Bank of America from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 30th. HSBC reiterated a “hold” rating and issued a $39.00 target price (up previously from $38.00) on shares of Bank of America in a research report on Thursday, March 28th. Finally, Keefe, Bruyette & Woods increased their target price on shares of 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. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $38.70.

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.