Threadgill Financial LLC Grows Stake in Bank of America Co. (NYSE:BAC)

Threadgill Financial LLC boosted its holdings in shares of Bank of America Co. (NYSE:BAC) by 0.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,418 shares of the financial services provider’s stock after acquiring an additional 425 shares during the period. Bank of America accounts for approximately 2.1% of Threadgill Financial LLC’s investment portfolio, making the stock its 17th biggest position. Threadgill Financial LLC’s holdings in Bank of America were worth $3,179,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. DDD Partners LLC purchased a new stake in shares of Bank of America in the 4th quarter valued at approximately $263,000. Columbia Trust Co 01012016 grew its stake in shares of Bank of America by 18.0% in the 4th quarter. Columbia Trust Co 01012016 now owns 70,339 shares of the financial services provider’s stock valued at $2,368,000 after buying an additional 10,745 shares during the period. Family Legacy Inc. grew its stake in shares of Bank of America by 1.0% in the 4th quarter. Family Legacy Inc. now owns 55,844 shares of the financial services provider’s stock valued at $1,880,000 after buying an additional 543 shares during the period. Patriot Investment Management Group Inc. purchased a new stake in shares of Bank of America in the 4th quarter valued at approximately $220,000. Finally, Gemmer Asset Management LLC grew its stake in shares of Bank of America by 9.6% in the 4th quarter. Gemmer Asset Management LLC now owns 14,063 shares of the financial services provider’s stock valued at $474,000 after buying an additional 1,226 shares during the period. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Stock Performance

NYSE:BAC opened at $37.83 on Thursday. Bank of America Co. has a 1-year low of $24.96 and a 1-year high of $37.85. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a 50 day simple moving average of $34.35 and a 200-day simple moving average of $31.26. The firm has a market cap of $298.50 billion, a PE ratio of 12.32, a P/E/G ratio of 1.70 and a beta of 1.38.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. Bank of America had a net margin of 15.42% and a return on equity of 11.38%. The firm had revenue of $22 billion during the quarter, compared to analyst estimates of $23.70 billion. During the same quarter in the prior year, the business posted $0.85 earnings per share. Bank of America’s revenue for the quarter was down 10.2% compared to the same quarter last year. On average, equities analysts expect that Bank of America Co. will post 3.11 EPS for the current year.

Bank of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 1st will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, February 29th. This represents a $0.96 annualized dividend and a yield of 2.54%. Bank of America’s dividend payout ratio is currently 31.27%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. HSBC reaffirmed a “hold” rating and set a $39.00 price objective (up previously from $38.00) on shares of Bank of America in a research report on Thursday. Oppenheimer decreased their price target on shares of Bank of America from $50.00 to $46.00 and set an “outperform” rating for the company in a research report on Tuesday, March 19th. Barclays raised their price objective on shares of Bank of America from $39.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Morgan Stanley upgraded shares of Bank of America from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $32.00 to $41.00 in a report on Tuesday, January 30th. Finally, Citigroup raised their price objective on shares of Bank of America from $37.00 to $39.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Bank of America presently has a consensus rating of “Moderate Buy” and an average price target of $35.90.

About Bank of America

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.