Gould Asset Management LLC CA Acquires Shares of 7,043 Bank of America Co. (NYSE:BAC)

Gould Asset Management LLC CA acquired a new stake in shares of Bank of America Co. (NYSE:BAC) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 7,043 shares of the financial services provider’s stock, valued at approximately $237,000.

Several other large investors have also bought and sold shares of the company. Van Cleef Asset Management Inc boosted its position in Bank of America by 32.4% during the 4th quarter. Van Cleef Asset Management Inc now owns 28,096 shares of the financial services provider’s stock valued at $946,000 after acquiring an additional 6,875 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its position in shares of Bank of America by 4.5% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 107,056 shares of the financial services provider’s stock worth $3,605,000 after purchasing an additional 4,571 shares in the last quarter. Syon Capital LLC boosted its position in shares of Bank of America by 125.4% in the 4th quarter. Syon Capital LLC now owns 98,789 shares of the financial services provider’s stock worth $3,326,000 after purchasing an additional 54,964 shares in the last quarter. Roffman Miller Associates Inc. PA boosted its position in shares of Bank of America by 1.0% in the 4th quarter. Roffman Miller Associates Inc. PA now owns 620,281 shares of the financial services provider’s stock worth $20,885,000 after purchasing an additional 5,972 shares in the last quarter. Finally, Pittenger & Anderson Inc. boosted its position in shares of Bank of America by 208.4% in the 4th quarter. Pittenger & Anderson Inc. now owns 4,811 shares of the financial services provider’s stock worth $162,000 after purchasing an additional 3,251 shares in the last quarter. 70.71% of the stock is owned by institutional investors.

Bank of America Stock Performance

BAC traded down $0.09 during mid-day trading on Friday, reaching $37.82. 28,659,995 shares of the company traded hands, compared to its average volume of 41,444,340. The stock has a market capitalization of $298.42 billion, a P/E ratio of 13.15, a P/E/G ratio of 1.72 and a beta of 1.39. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.12. The company’s fifty day moving average price is $36.06 and its 200-day moving average price is $32.64. Bank of America Co. has a 52-week low of $24.96 and a 52-week high of $38.49.

Bank of America (NYSE:BAC) last announced its earnings results on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. The business 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% compared to the same quarter last year. During the same period in the previous year, the business earned $0.94 EPS. On average, sell-side analysts expect that Bank of America Co. will post 3.19 EPS for the current year.

Bank of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.54%. Bank of America’s dividend payout ratio (DPR) is 33.22%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on BAC shares. Morgan Stanley raised Bank of America from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $32.00 to $41.00 in a research report on Tuesday, January 30th. Oppenheimer dropped their price target on Bank of America from $46.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. Citigroup boosted their price target on Bank of America from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Erste Group Bank raised Bank of America from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Finally, Wolfe Research upgraded shares of Bank of America from a “peer perform” rating to an “outperform” rating and set a $42.00 price objective for the company in a report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Bank of America presently has an average rating of “Hold” and a consensus target price 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.