Saxon Interests Inc. Makes New $260,000 Investment in Bank of America Co. (NYSE:BAC)

Saxon Interests Inc. bought a new stake in Bank of America Co. (NYSE:BAC) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 7,733 shares of the financial services provider’s stock, valued at approximately $260,000.

Other large investors have also recently bought and sold shares of the company. Roundview Capital LLC boosted its stake in Bank of America by 1.5% during the 1st quarter. Roundview Capital LLC now owns 135,764 shares of the financial services provider’s stock valued at $5,596,000 after purchasing an additional 2,013 shares in the last quarter. Loomis Sayles & Co. L P boosted its stake in Bank of America by 150.3% during the first quarter. Loomis Sayles & Co. L P now owns 1,985 shares of the financial services provider’s stock valued at $82,000 after buying an additional 1,192 shares in the last quarter. NewEdge Advisors LLC boosted its stake in Bank of America by 4.2% during the first quarter. NewEdge Advisors LLC now owns 405,098 shares of the financial services provider’s stock valued at $16,698,000 after buying an additional 16,319 shares in the last quarter. First Western Trust Bank bought a new stake in Bank of America in the first quarter worth about $586,000. Finally, Pearl River Capital LLC acquired a new stake in Bank of America in the 1st quarter valued at about $534,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BAC. Wells Fargo & Company lifted their price objective on shares of Bank of America from $40.00 to $44.00 and gave the stock an “overweight” rating in a research note on Thursday. Citigroup upped their price target on Bank of America from $37.00 to $39.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. Barclays lifted their target price on Bank of America from $39.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Morgan Stanley raised Bank of America from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $32.00 to $41.00 in a report on Tuesday, January 30th. Finally, HSBC reissued a “hold” rating and issued a $39.00 price target (up previously from $38.00) on shares of Bank of America in a research note on Thursday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Bank of America presently has an average rating of “Moderate Buy” and a consensus price target of $36.15.

Bank of America Stock Up 0.3 %

BAC traded up $0.11 on Thursday, reaching $37.92. 42,116,296 shares of the company traded hands, compared to its average volume of 41,135,176. The company has a market cap of $299.21 billion, a price-to-earnings ratio of 12.35, a PEG ratio of 1.70 and a beta of 1.38. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.80 and a quick ratio of 0.80. The stock’s 50 day moving average price is $34.47 and its 200-day moving average price is $31.31. Bank of America Co. has a 52-week low of $24.96 and a 52-week high of $38.00.

Bank of America (NYSE:BAC) last issued its earnings results on Friday, January 12th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Bank of America had a net margin of 15.42% and a return on equity of 11.38%. The company had revenue of $22 billion during the quarter, compared to analyst estimates of $23.70 billion. During the same quarter last year, the business posted $0.85 EPS. The company’s revenue for the quarter was down 10.2% on a year-over-year basis. On average, sell-side analysts expect that Bank of America Co. will post 3.11 EPS for the current fiscal year.

Bank of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 1st will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.53%. The ex-dividend date is Thursday, February 29th. Bank of America’s payout ratio is currently 31.27%.

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.