Everpar Advisors LLC Purchases New Shares in Bank of America Co. (NYSE:BAC)

Everpar Advisors LLC acquired a new stake in shares of Bank of America Co. (NYSE:BAC) in the 4th quarter, Holdings Channel.com reports. The fund acquired 34,709 shares of the financial services provider’s stock, valued at approximately $1,169,000.

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC grew its stake in shares of Bank of America by 3.3% in the third quarter. Brighton Jones LLC now owns 81,165 shares of the financial services provider’s stock worth $2,222,000 after acquiring an additional 2,577 shares during the period. Baystate Wealth Management LLC grew its position in Bank of America by 28.1% in the 3rd quarter. Baystate Wealth Management LLC now owns 21,135 shares of the financial services provider’s stock worth $579,000 after purchasing an additional 4,634 shares during the period. Cambridge Trust Co. raised its stake in Bank of America by 0.4% during the 3rd quarter. Cambridge Trust Co. now owns 674,238 shares of the financial services provider’s stock valued at $18,461,000 after buying an additional 2,487 shares during the last quarter. IFM Investors Pty Ltd lifted its holdings in shares of Bank of America by 3.0% during the 3rd quarter. IFM Investors Pty Ltd now owns 1,453,255 shares of the financial services provider’s stock valued at $39,790,000 after buying an additional 41,840 shares during the period. Finally, Waldron Private Wealth LLC boosted its stake in shares of Bank of America by 5.9% in the 3rd quarter. Waldron Private Wealth LLC now owns 48,715 shares of the financial services provider’s stock worth $1,333,000 after buying an additional 2,716 shares during the last quarter. Institutional investors own 70.71% of the company’s stock.

Bank of America Stock Performance

Shares of Bank of America stock traded down $0.14 during trading on Wednesday, hitting $37.70. 32,799,608 shares of the company’s stock were exchanged, compared to its average volume of 40,510,223. The stock has a market capitalization of $294.83 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 1.66 and a beta of 1.37. The business has a 50-day simple moving average of $36.61 and a 200-day simple moving average of $33.31. Bank of America Co. has a 52-week low of $24.96 and a 52-week high of $38.49. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.79 and a current ratio of 0.79.

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 analysts’ consensus estimates of $0.77 by $0.06. Bank of America had a return on equity of 10.88% and a net margin of 13.94%. The business had revenue of $25.82 billion during the quarter, compared to analyst estimates of $25.49 billion. During the same quarter last year, the business posted $0.94 EPS. The company’s revenue was down 1.7% on a year-over-year basis. On average, research analysts forecast that Bank of America Co. will post 3.21 EPS for the current year.

Bank of America Announces Dividend

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

Wall Street Analysts Forecast Growth

BAC has been the subject of a number of recent research reports. Wolfe Research raised shares of Bank of America from a “peer perform” rating to an “outperform” rating and set a $42.00 price objective for the company in a research report on Friday, April 19th. BMO Capital Markets boosted their price objective on Bank of America from $36.00 to $37.00 and gave the company a “market perform” rating in a research note on Thursday, April 18th. HSBC reaffirmed a “hold” rating and issued a $39.00 target price (up from $38.00) on shares of Bank of America in a report on Thursday, March 28th. Oppenheimer lifted their price objective on Bank of America from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 30th. Finally, Evercore ISI increased their target price on Bank of America from $37.00 to $41.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $38.70.

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.