Vantage Financial Partners Ltd. Inc. lifted its position in Bank of America (NYSE:BAC) by 6.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,000 shares of the financial services provider’s stock after acquiring an additional 3,300 shares during the quarter. Bank of America accounts for approximately 1.0% of Vantage Financial Partners Ltd. Inc.’s investment portfolio, making the stock its 13th largest holding. Vantage Financial Partners Ltd. Inc.’s holdings in Bank of America were worth $1,531,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Epoch Investment Partners Inc. raised its holdings in Bank of America by 17.5% in the second quarter. Epoch Investment Partners Inc. now owns 14,672,508 shares of the financial services provider’s stock worth $355,954,000 after purchasing an additional 2,180,041 shares in the last quarter. Waters Parkerson & CO. LLC raised its holdings in Bank of America by 2.1% in the second quarter. Waters Parkerson & CO. LLC now owns 1,000,680 shares of the financial services provider’s stock worth $24,277,000 after purchasing an additional 20,967 shares in the last quarter. Veritable L.P. raised its holdings in Bank of America by 3.6% in the second quarter. Veritable L.P. now owns 384,870 shares of the financial services provider’s stock worth $9,337,000 after purchasing an additional 13,314 shares in the last quarter. Huber Capital Management LLC raised its holdings in Bank of America by 2.8% in the second quarter. Huber Capital Management LLC now owns 1,923,715 shares of the financial services provider’s stock worth $46,669,000 after purchasing an additional 52,100 shares in the last quarter. Finally, Risk Paradigm Group LLC raised its holdings in Bank of America by 2.9% in the second quarter. Risk Paradigm Group LLC now owns 42,865 shares of the financial services provider’s stock worth $1,040,000 after purchasing an additional 1,198 shares in the last quarter. Hedge funds and other institutional investors own 69.84% of the company’s stock.
A number of brokerages have commented on BAC. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $35.00 target price on shares of Bank of America in a report on Thursday. Vetr upgraded shares of Bank of America from a “buy” rating to a “strong-buy” rating and set a $34.96 target price for the company in a report on Friday, March 23rd. Credit Suisse Group boosted their target price on shares of Bank of America from $35.00 to $36.00 and gave the stock an “outperform” rating in a report on Friday, March 16th. Zacks Investment Research lowered Bank of America from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th. Finally, Morgan Stanley boosted their price target on Bank of America from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Nine research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $30.97.
Shares of NYSE BAC opened at $29.63 on Monday. The company has a market capitalization of $303,520.53, a P/E ratio of 16.28, a PEG ratio of 1.49 and a beta of 1.37. Bank of America has a 52 week low of $22.07 and a 52 week high of $33.05. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.90 and a current ratio of 0.91.
Bank of America (NYSE:BAC) last issued its earnings results on Wednesday, January 17th. The financial services provider reported $0.47 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.03. The firm had revenue of $20.69 billion for the quarter, compared to analyst estimates of $21.61 billion. Bank of America had a return on equity of 8.54% and a net margin of 18.03%. Bank of America’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 earnings per share. sell-side analysts predict that Bank of America will post 2.48 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Friday, March 2nd were given a $0.12 dividend. The ex-dividend date was Thursday, March 1st. This represents a $0.48 dividend on an annualized basis and a yield of 1.62%. Bank of America’s dividend payout ratio is currently 26.23%.
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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 through four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.
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