NBW Capital LLC Grows Stock Holdings in Bank of America Co. (NYSE:BAC)

NBW Capital LLC grew its position in shares of Bank of America Co. (NYSE:BAC) by 115.3% during the fourth

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quarter, Holdings Channel reports. The fund owned 44,649 shares of the financial services provider’s stock after purchasing an additional 23,907 shares during the period. NBW Capital LLC’s holdings in Bank of America were worth $1,503,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in BAC. Fortis Group Advisors LLC bought a new position in shares of Bank of America during the 3rd quarter valued at $25,000. Castleview Partners LLC bought a new stake in shares of Bank of America during the first quarter valued at approximately $28,000. Glass Jacobson Investment Advisors llc increased its holdings in Bank of America by 98.1% during 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 during the period. ZRC Wealth Management LLC grew its holdings in 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 worth $38,000 after purchasing an additional 750 shares during the last quarter. Finally, Live Oak Investment Partners purchased a new position in Bank of America in the fourth quarter worth $39,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BAC shares. Barclays upped their price objective on shares of Bank of America from $39.00 to $43.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Erste Group Bank upgraded shares of Bank of America from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. UBS Group reiterated a “neutral” rating and set a $40.00 price target (up from $39.00) on shares of Bank of America in a report on Thursday, April 4th. Odeon Capital Group downgraded shares of Bank of America from a “buy” rating to a “hold” rating and set a $33.90 price objective for the company. in a research note on Tuesday, January 16th. Finally, Evercore ISI upped their price target on shares of Bank of America from $37.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $38.29.

Bank of America Stock Up 1.3 %

BAC traded up $0.47 during trading on Thursday, hitting $35.70. 23,760,348 shares of the company’s stock were exchanged, compared to its average volume of 41,295,941. Bank of America Co. has a fifty-two week low of $24.96 and a fifty-two week high of $38.35. The company has a quick ratio of 0.80, a current ratio of 0.79 and a debt-to-equity ratio of 1.12. The stock has a market cap of $281.70 billion, a P/E ratio of 12.37, a PEG ratio of 1.58 and a beta of 1.39. The business’s 50 day moving average is $35.55 and its two-hundred day moving average is $32.21.

Bank of America (NYSE:BAC) last issued its earnings results on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.06. The firm had revenue of $25.82 billion during the quarter, compared to analyst estimates of $25.49 billion. Bank of America had a net margin of 13.94% and a return on equity of 10.88%. The company’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the business earned $0.94 earnings per share. As a group, equities analysts expect that Bank of America Co. will post 3.13 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 1st were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date was Thursday, February 29th. Bank of America’s dividend payout ratio (DPR) is presently 33.22%.

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.