Private Wealth Advisors Inc. Increases Holdings in Bank of America (BAC)

Private Wealth Advisors Inc. boosted its holdings in shares of Bank of America (NYSE:BAC) by 10.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 53,644 shares of the financial services provider’s stock after acquiring an additional 5,196 shares during the quarter. Private Wealth Advisors Inc.’s holdings in Bank of America were worth $1,584,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in BAC. Epoch Investment Partners Inc. boosted its position in Bank of America by 17.5% during the 2nd quarter. Epoch Investment Partners Inc. now owns 14,672,508 shares of the financial services provider’s stock worth $355,954,000 after acquiring an additional 2,180,041 shares during the period. Waters Parkerson & CO. LLC boosted its position in Bank of America by 2.1% during the 2nd quarter. Waters Parkerson & CO. LLC now owns 1,000,680 shares of the financial services provider’s stock worth $24,277,000 after acquiring an additional 20,967 shares during the period. Veritable L.P. boosted its position in Bank of America by 3.6% during the 2nd quarter. Veritable L.P. now owns 384,870 shares of the financial services provider’s stock worth $9,337,000 after acquiring an additional 13,314 shares during the period. Huber Capital Management LLC boosted its position in Bank of America by 2.8% during the 2nd quarter. Huber Capital Management LLC now owns 1,923,715 shares of the financial services provider’s stock worth $46,669,000 after acquiring an additional 52,100 shares during the period. Finally, Risk Paradigm Group LLC lifted its holdings in shares of Bank of America by 2.9% during the 2nd quarter. Risk Paradigm Group LLC now owns 42,865 shares of the financial services provider’s stock valued at $1,040,000 after buying an additional 1,198 shares during the last quarter. Hedge funds and other institutional investors own 69.84% of the company’s stock.

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Shares of NYSE BAC opened at $29.63 on Monday. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $303,520.53, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 1.49 and a beta of 1.37. Bank of America has a 12 month low of $22.07 and a 12 month high of $33.05.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $0.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.03. The company had revenue of $20.69 billion for the quarter, compared to the consensus estimate of $21.61 billion. Bank of America had a return on equity of 8.54% and a net margin of 18.03%. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.40 EPS. research analysts forecast that Bank of America will post 2.48 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Friday, March 2nd were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend was Thursday, March 1st. Bank of America’s dividend payout ratio is currently 26.23%.

Several equities research analysts have recently issued reports on BAC shares. Keefe, Bruyette & Woods lifted their price target on Bank of America from $29.00 to $34.00 and gave the company an “outperform” rating in a report on Thursday, December 14th. Wells Fargo set a $35.00 price target on Bank of America and gave the company a “buy” rating in a report on Wednesday, December 20th. Barclays lifted their price target on Bank of America from $28.00 to $35.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. Zacks Investment Research upgraded Bank of America from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a report on Tuesday, January 2nd. Finally, Instinet reduced their price target on Bank of America from $37.00 to $30.00 in a report on Wednesday, January 3rd. Nine equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $30.97.

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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 through four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.

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Institutional Ownership by Quarter for Bank of America (NYSE:BAC)

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