Fiduciary Advisors Inc. Takes Position in Bank of America Co. (NYSE:BAC)

Fiduciary Advisors Inc. acquired a new stake in Bank of America Co. (NYSE:BAC) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 22,826 shares of the financial services provider’s stock, valued at approximately $1,003,000. Bank of America comprises about 1.0% of Fiduciary Advisors Inc.’s holdings, making the stock its 23rd biggest holding.

Several other large investors also recently made changes to their positions in the stock. Marino Stram & Associates LLC raised its stake in Bank of America by 1.7% during the fourth quarter. Marino Stram & Associates LLC now owns 13,204 shares of the financial services provider’s stock valued at $580,000 after buying an additional 222 shares during the last quarter. Traveka Wealth LLC lifted its position in shares of Bank of America by 2.7% in the fourth quarter. Traveka Wealth LLC now owns 8,685 shares of the financial services provider’s stock worth $382,000 after buying an additional 226 shares in the last quarter. Longfellow Investment Management Co. LLC raised its position in Bank of America by 0.6% during the third quarter. Longfellow Investment Management Co. LLC now owns 37,393 shares of the financial services provider’s stock valued at $1,484,000 after purchasing an additional 227 shares during the period. Beacon Investment Advisory Services Inc. raised its position in Bank of America by 1.1% during the third quarter. Beacon Investment Advisory Services Inc. now owns 20,863 shares of the financial services provider’s stock valued at $828,000 after purchasing an additional 231 shares during the period. Finally, Southland Equity Partners LLC raised its holdings in shares of Bank of America by 2.6% in the fourth quarter. Southland Equity Partners LLC now owns 9,016 shares of the financial services provider’s stock worth $396,000 after buying an additional 231 shares during the period. Institutional investors and hedge funds own 70.71% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on BAC. Phillip Securities raised Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price objective on the stock in a research note on Friday, October 18th. Wells Fargo & Company raised their target price on Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Keefe, Bruyette & Woods raised their target price on Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Citigroup upgraded Bank of America from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $46.00 to $54.00 in a report on Friday, November 8th. Finally, StockNews.com upgraded Bank of America from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $48.58.

Bank of America Price Performance

Shares of Bank of America stock opened at $46.68 on Friday. The firm has a fifty day moving average price of $45.85 and a two-hundred day moving average price of $42.73. The company has a market cap of $358.19 billion, a PE ratio of 14.50, a price-to-earnings-growth ratio of 1.27 and a beta of 1.33. Bank of America Co. has a fifty-two week low of $32.35 and a fifty-two week high of $48.08. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.05. The business had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.12 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. Bank of America’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.70 EPS. Analysts expect that Bank of America Co. will post 3.67 EPS for the current year.

Bank of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be issued a $0.26 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.04 annualized dividend and a dividend yield of 2.23%. Bank of America’s dividend payout ratio is currently 32.30%.

Bank of America Company 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.