Woodard & Co. Asset Management Group Inc. ADV bought a new position in Bank of America (NYSE:BAC) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 24,385 shares of the financial services provider’s stock, valued at approximately $722,000. Bank of America accounts for 0.6% of Woodard & Co. Asset Management Group Inc. ADV’s holdings, making the stock its 20th biggest holding.
Several other hedge funds have also recently modified their holdings of the business. Burt Wealth Advisors raised its position in shares of Bank of America by 4,013.1% in the 3rd quarter. Burt Wealth Advisors now owns 4,401 shares of the financial services provider’s stock worth $112,000 after acquiring an additional 4,294 shares in the last quarter. Legacy Advisors LLC bought a new position in shares of Bank of America in the 3rd quarter worth $115,000. HWG Holdings LP bought a new position in shares of Bank of America in the 3rd quarter worth $116,000. Avestar Capital LLC bought a new position in shares of Bank of America in the 4th quarter worth $135,000. Finally, Gradient Investments LLC bought a new position in shares of Bank of America in the 4th quarter worth $150,000. Institutional investors and hedge funds own 69.96% of the company’s stock.
Bank of America traded up $0.29, hitting $31.01, during trading hours on Thursday, MarketBeat Ratings reports. 30,259,141 shares of the stock traded hands, compared to its average volume of 69,410,872. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 0.92. The company has a market cap of $306.59 billion, a PE ratio of 16.94, a PEG ratio of 1.47 and a beta of 1.37. Bank of America has a 1 year low of $30.42 and a 1 year high of $31.06.
Bank of America (NYSE:BAC) last posted its quarterly earnings results on Monday, April 16th. The financial services provider reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.03. The business had revenue of $23.10 billion for the quarter, compared to the consensus estimate of $23.04 billion. Bank of America had a return on equity of 9.40% and a net margin of 19.65%. The company’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. analysts predict that Bank of America will post 2.55 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 1st will be paid a $0.12 dividend. The ex-dividend date is Thursday, May 31st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.55%. Bank of America’s payout ratio is 26.23%.
Several research firms have recently commented on BAC. ValuEngine lowered Bank of America from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Barclays boosted their price target on Bank of America from $35.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 17th. Royal Bank of Canada boosted their price target on Bank of America to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, January 18th. Vetr lowered Bank of America from a “buy” rating to a “hold” rating and set a $34.13 target price on the stock. in a research report on Monday, March 12th. Finally, Vining Sparks initiated coverage on Bank of America in a research report on Monday, April 16th. They set a “buy” rating and a $35.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $32.13.
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.
Receive News & Ratings for Bank of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of America and related companies with MarketBeat.com's FREE daily email newsletter.