Fieldview Capital Management LLC Buys New Shares in Bank of America Corporation $BAC

Fieldview Capital Management LLC bought a new stake in shares of Bank of America Corporation (NYSE:BAC) during the 4th quarter, Holdings Channel reports. The firm bought 13,143 shares of the financial services provider’s stock, valued at approximately $723,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Legacy Bridge LLC lifted its position in Bank of America by 182.3% during the fourth quarter. Legacy Bridge LLC now owns 511 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 330 shares in the last quarter. Wiser Advisor Group LLC purchased a new position in Bank of America during the third quarter valued at $27,000. Joseph Group Capital Management purchased a new position in Bank of America during the fourth quarter valued at $32,000. HFM Investment Advisors LLC lifted its position in Bank of America by 566.0% during the fourth quarter. HFM Investment Advisors LLC now owns 626 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 532 shares in the last quarter. Finally, Coston McIsaac & Partners raised its holdings in Bank of America by 90.2% during the fourth quarter. Coston McIsaac & Partners now owns 662 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 314 shares during the period. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Geoffrey S. Greener sold 126,756 shares of Bank of America stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total value of $6,719,335.56. Following the sale, the insider directly owned 1,373,397 shares of the company’s stock, valued at approximately $72,803,774.97. The trade was a 8.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.27% of the company’s stock.

Bank of America Trading Down 0.2%

Shares of BAC stock opened at $55.89 on Tuesday. Bank of America Corporation has a 12-month low of $44.06 and a 12-month high of $57.55. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.18. The stock’s 50-day moving average price is $52.42 and its 200-day moving average price is $52.44. The stock has a market capitalization of $396.62 billion, a price-to-earnings ratio of 13.83, a price-to-earnings-growth ratio of 0.95 and a beta of 1.19.

Bank of America (NYSE:BAC) last issued its earnings results on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.11. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.The firm had revenue of $30.27 billion for the quarter, compared to analysts’ expectations of $29.72 billion. During the same period in the previous year, the firm posted $0.90 earnings per share. The business’s revenue was up 10.7% compared to the same quarter last year. Equities research analysts predict that Bank of America Corporation will post 4.45 EPS for the current fiscal year.

Bank of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, June 5th. Bank of America’s payout ratio is 27.72%.

Analysts Set New Price Targets

BAC has been the topic of a number of recent analyst reports. Daiwa Securities Group raised their price target on Bank of America from $58.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. Robert W. Baird raised their price target on Bank of America from $56.00 to $58.00 and gave the company a “neutral” rating in a report on Thursday, April 16th. Keefe, Bruyette & Woods raised their price target on Bank of America from $63.00 to $64.00 and gave the company an “outperform” rating in a report on Thursday, April 16th. Autonomous Res decreased their price target on Bank of America from $62.00 to $54.00 and set a “neutral” rating on the stock in a report on Monday, April 6th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Bank of America in a report on Friday, April 24th. Twenty-two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $61.06.

Bank of America Company Profile

Bank of America Corporation is a multinational financial services company headquartered in Charlotte, North Carolina. It provides a broad array of banking, investment, asset management and related financial and risk management products and services to individual consumers, small- and middle-market businesses, large corporations, governments and institutional investors. The firm operates through consumer banking, global wealth and investment management, global banking and markets businesses, offering capabilities across lending, deposits, payments, advisory and capital markets.

Its consumer-facing offerings include checking and savings accounts, mortgages, home equity lending, auto loans, credit cards and small business banking, supported by a nationwide branch network and digital channels.