Mitchell Mcleod Pugh & Williams Inc. Has $1.77 Million Holdings in Bank of America Co. (NYSE:BAC)

Mitchell Mcleod Pugh & Williams Inc. grew its stake in Bank of America Co. (NYSE:BAC) by 0.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,480 shares of the financial services provider’s stock after buying an additional 368 shares during the quarter. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Bank of America were worth $1,767,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Regent Peak Wealth Advisors LLC increased its stake in shares of Bank of America by 3.2% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 9,976 shares of the financial services provider’s stock valued at $336,000 after acquiring an additional 314 shares in the last quarter. Kennedy Investment Group boosted its holdings in Bank of America by 0.6% during the 4th quarter. Kennedy Investment Group now owns 58,007 shares of the financial services provider’s stock worth $1,953,000 after acquiring an additional 321 shares during the last quarter. Private Ocean LLC boosted its holdings in Bank of America by 34.0% during the 4th quarter. Private Ocean LLC now owns 1,281 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 325 shares during the last quarter. Selective Wealth Management Inc. boosted its holdings in Bank of America by 2.0% during the 4th quarter. Selective Wealth Management Inc. now owns 17,351 shares of the financial services provider’s stock worth $586,000 after acquiring an additional 334 shares during the last quarter. Finally, Legacy Capital Wealth Partners LLC boosted its holdings in Bank of America by 4.0% during the 4th quarter. Legacy Capital Wealth Partners LLC now owns 8,770 shares of the financial services provider’s stock worth $295,000 after acquiring an additional 338 shares during the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Trading Up 0.3 %

Shares of NYSE:BAC traded up $0.11 during trading on Monday, reaching $37.94. 5,923,628 shares of the company traded hands, compared to its average volume of 40,999,852. The business’s fifty day moving average is $36.13 and its 200-day moving average is $32.80. Bank of America Co. has a 52-week low of $24.96 and a 52-week high of $38.49. The firm has a market capitalization of $299.37 billion, a price-to-earnings ratio of 13.13, a P/E/G ratio of 1.69 and a beta of 1.39. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.12.

Bank of America (NYSE:BAC) last announced its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.83 EPS for the quarter, topping 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 company had revenue of $25.82 billion during the quarter, compared to analyst estimates of $25.49 billion. During the same quarter last year, the firm posted $0.94 earnings per share. The firm’s revenue was down 1.7% on a year-over-year basis. As a group, analysts forecast that Bank of America Co. will post 3.19 EPS for the current year.

Bank of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.96 dividend on an annualized basis and a yield of 2.53%. Bank of America’s dividend payout ratio (DPR) is 33.22%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Wolfe Research raised shares of Bank of America from a “peer perform” rating to an “outperform” rating and set a $42.00 price target on the stock in a report on Friday, April 19th. Wells Fargo & Company boosted their price target on shares of Bank of America from $40.00 to $44.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Oppenheimer lowered their price objective on Bank of America from $46.00 to $45.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 17th. Barclays boosted their price objective on Bank of America from $39.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Finally, 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. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $38.53.

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.