Field & Main Bank Acquires 1,410 Shares of Bank of America Co. (NYSE:BAC)

Field & Main Bank increased its stake in shares of Bank of America Co. (NYSE:BAC) by 5.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,400 shares of the financial services provider’s stock after acquiring an additional 1,410 shares during the quarter. Field & Main Bank’s holdings in Bank of America were worth $855,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of BAC. Fortis Group Advisors LLC bought a new position in Bank of America in the third quarter worth $25,000. Glass Jacobson Investment Advisors llc raised its position in 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 worth $28,000 after purchasing an additional 504 shares in the last quarter. Criterion Capital Advisors LLC bought a new position in Bank of America during the fourth quarter worth about $32,000. ZRC Wealth Management LLC boosted its holdings in Bank of America by 192.3% during the fourth quarter. ZRC Wealth Management LLC now owns 1,140 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 750 shares in the last quarter. Finally, Private Ocean LLC grew its stake in shares of Bank of America by 34.0% in the 4th quarter. Private Ocean LLC now owns 1,281 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 325 shares during the period. 70.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on BAC. Odeon Capital Group lowered shares of Bank of America from a “buy” rating to a “hold” rating and set a $33.90 target price on the stock. in a report on Tuesday, January 16th. UBS Group reaffirmed a “neutral” rating and set a $40.00 price objective (up previously from $39.00) on shares of Bank of America in a report on Thursday, April 4th. HSBC restated a “hold” rating and set a $39.00 price target (up from $38.00) on shares of Bank of America in a research report on Thursday, March 28th. Evercore ISI increased their target price on Bank of America from $37.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Finally, Wolfe Research raised Bank of America from a “peer perform” rating to an “outperform” rating and set a $42.00 price target for the company in a report on Friday, April 19th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $38.53.

Bank of America Stock Down 0.7 %

Shares of Bank of America stock traded down $0.27 on Monday, hitting $37.56. The company had a trading volume of 26,545,185 shares, compared to its average volume of 41,263,035. Bank of America Co. has a twelve month low of $24.96 and a twelve month high of $38.49. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a 50-day moving average of $36.20 and a 200-day moving average of $32.88. The firm has a market capitalization of $296.37 billion, a P/E ratio of 13.00, a P/E/G ratio of 1.69 and a beta of 1.39.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share (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 business had revenue of $25.82 billion during the quarter, compared to the consensus estimate of $25.49 billion. During the same period last year, the company earned $0.94 earnings per share. Bank of America’s quarterly revenue was down 1.7% on a year-over-year basis. Research analysts predict that Bank of America Co. will post 3.19 earnings per share for the current year.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid 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 2.56%. Bank of America’s dividend payout ratio is 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.