6,104 Shares in Bank of America Co. (NYSE:BAC) Acquired by Breed s Hill Capital LLC

Breed s Hill Capital LLC acquired a new position in shares of Bank of America Co. (NYSE:BAC) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,104 shares of the financial services provider’s stock, valued at approximately $206,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BAC. Regent Peak Wealth Advisors LLC grew its holdings in Bank of America by 3.2% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 9,976 shares of the financial services provider’s stock worth $336,000 after buying an additional 314 shares in the last quarter. Kennedy Investment Group raised its holdings in shares of Bank of America by 0.6% in the fourth quarter. Kennedy Investment Group now owns 58,007 shares of the financial services provider’s stock valued at $1,953,000 after purchasing an additional 321 shares during the last quarter. Private Ocean LLC lifted its position in shares of Bank of America by 34.0% during the fourth 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 in the last quarter. Selective Wealth Management Inc. boosted its holdings in Bank of America by 2.0% during the fourth quarter. Selective Wealth Management Inc. now owns 17,351 shares of the financial services provider’s stock worth $586,000 after purchasing an additional 334 shares during the last quarter. Finally, Legacy Capital Wealth Partners LLC grew its position in Bank of America by 4.0% in the 4th quarter. Legacy Capital Wealth Partners LLC now owns 8,770 shares of the financial services provider’s stock worth $295,000 after purchasing an additional 338 shares in the last quarter. 70.71% of the stock is owned by institutional investors.

Bank of America Price Performance

Shares of Bank of America stock traded up $0.58 during trading on Thursday, hitting $38.29. The stock had a trading volume of 26,851,139 shares, compared to its average volume of 40,358,504. The firm has a market cap of $299.44 billion, a price-to-earnings ratio of 13.25, a P/E/G ratio of 1.66 and a beta of 1.37. Bank of America Co. has a 12 month low of $24.96 and a 12 month high of $38.49. The business’s 50-day moving average is $36.68 and its 200 day moving average is $33.34. 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 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. 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 for the quarter, compared to analyst estimates of $25.49 billion. During the same period in the prior year, the company earned $0.94 EPS. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Bank of America Co. will post 3.21 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 is Friday, June 7th. This represents a $0.96 dividend on an annualized basis and a yield of 2.51%. Bank of America’s dividend payout ratio is presently 33.22%.

Wall Street Analyst Weigh In

BAC has been the topic of a number of research analyst reports. Jefferies Financial Group boosted their target price on Bank of America from $36.00 to $39.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. HSBC reissued a “hold” rating and issued a $39.00 price target (up from $38.00) on shares of Bank of America in a report on Thursday, March 28th. JPMorgan Chase & Co. raised their price target on shares of Bank of America from $39.50 to $40.50 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Morgan Stanley raised Bank of America from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $32.00 to $41.00 in a report on Tuesday, January 30th. Finally, Wolfe Research upgraded Bank of America from a “peer perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a research note on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Bank of America currently has an average rating of “Hold” and an average price target of $38.70.

Bank of America 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.