Bank of America Co. (NYSE:BAC) Shares Acquired by Buffington Mohr McNeal

Buffington Mohr McNeal boosted its position in shares of Bank of America Co. (NYSE:BAC) by 266.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 163,314 shares of the financial services provider’s stock after buying an additional 118,695 shares during the period. Bank of America accounts for approximately 1.1% of Buffington Mohr McNeal’s portfolio, making the stock its 29th biggest holding. Buffington Mohr McNeal’s holdings in Bank of America were worth $5,499,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. Fortis Group Advisors LLC acquired a new position in shares of Bank of America in the third quarter valued at approximately $25,000. Glass Jacobson Investment Advisors llc boosted its stake in shares of Bank of America by 98.1% in 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 buying an additional 504 shares in the last quarter. Castleview Partners LLC purchased a new stake in shares of Bank of America in the first quarter valued at approximately $28,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Bank of America in the first quarter valued at approximately $34,000. Finally, ZRC Wealth Management LLC boosted its stake in shares of Bank of America by 192.3% in the fourth quarter. ZRC Wealth Management LLC now owns 1,140 shares of the financial services provider’s stock valued at $38,000 after buying an additional 750 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Morgan Stanley upgraded Bank of America from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $32.00 to $41.00 in a research note on Tuesday, January 30th. Wells Fargo & Company boosted their target price on Bank of America from $40.00 to $44.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. UBS Group reiterated a “neutral” rating and set a $40.00 target price (up from $39.00) on shares of Bank of America in a research report on Thursday, April 4th. BMO Capital Markets reduced their price objective on Bank of America from $37.00 to $36.00 and set a “market perform” rating on the stock in a research report on Tuesday, January 16th. Finally, Citigroup increased their price objective on Bank of America from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Bank of America has a consensus rating of “Hold” and a consensus price target of $38.29.

Bank of America Trading Down 3.4 %

Shares of Bank of America stock traded down $1.22 during trading hours on Tuesday, reaching $34.73. The stock had a trading volume of 55,159,423 shares, compared to its average volume of 40,639,109. The firm has a 50 day simple moving average of $35.48 and a two-hundred day simple moving average of $32.14. The firm has a market capitalization of $274.04 billion, a price-to-earnings ratio of 11.31, a P/E/G ratio of 1.63 and a beta of 1.39. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.15. Bank of America Co. has a 1 year low of $24.96 and a 1 year high of $38.35.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The company had revenue of $22 billion for the quarter, compared to the consensus estimate of $23.70 billion. Bank of America had a return on equity of 11.38% and a net margin of 15.42%. The company’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same period last year, the business posted $0.85 EPS. As a group, equities research analysts anticipate that Bank of America Co. will post 3.13 earnings per share for the current year.

Bank of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 1st were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.96 annualized dividend and a dividend yield of 2.76%. Bank of America’s payout ratio is currently 31.27%.

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.