Ironvine Capital Partners LLC acquired a new position in shares of Bank of America (NYSE:BAC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 12,277 shares of the financial services provider’s stock, valued at approximately $362,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Burt Wealth Advisors grew its position in Bank of America by 4,013.1% during the 3rd quarter. Burt Wealth Advisors now owns 4,401 shares of the financial services provider’s stock worth $112,000 after purchasing an additional 4,294 shares in the last quarter. HWG Holdings LP purchased a new position in Bank of America during the 3rd quarter worth approximately $116,000. Legacy Advisors LLC purchased a new position in Bank of America during the 3rd quarter worth approximately $115,000. Gradient Investments LLC purchased a new position in Bank of America during the 4th quarter worth approximately $150,000. Finally, Taylor Hoffman Wealth Management acquired a new stake in shares of Bank of America during the 4th quarter valued at $151,000. Hedge funds and other institutional investors own 69.85% of the company’s stock.
BAC has been the subject of a number of research reports. Barclays lifted their target price on shares of Bank of America from $28.00 to $35.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Zacks Investment Research raised shares of Bank of America from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Tuesday, January 2nd. Instinet decreased their target price on shares of Bank of America from $37.00 to $30.00 in a research note on Wednesday, January 3rd. Credit Suisse Group raised shares of Bank of America to an “outperform” rating and lifted their target price for the company from $32.00 to $35.00 in a research note on Thursday, January 4th. Finally, BMO Capital Markets reissued a “hold” rating and set a $31.00 target price on shares of Bank of America in a research note on Monday, January 8th. Ten investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $31.32.
BAC stock opened at $30.26 on Monday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.92 and a quick ratio of 0.90. Bank of America has a 1 year low of $22.07 and a 1 year high of $33.05. The firm has a market capitalization of $309,974.06, a P/E ratio of 16.54, a price-to-earnings-growth ratio of 1.49 and a beta of 1.37.
Bank of America (NYSE:BAC) last released its quarterly earnings data on Monday, April 16th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.03. The business had revenue of $23.10 billion during the quarter, compared to analyst estimates of $23.04 billion. Bank of America had a net margin of 19.65% and a return on equity of 9.40%. Bank of America’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.41 EPS. equities analysts forecast that Bank of America will post 2.54 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Friday, March 2nd were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date was Thursday, March 1st. Bank of America’s dividend payout ratio is 26.23%.
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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 through four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.
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