Wealthcare Capital Partners LLC Acquires New Holdings in Bank of America Co. (NYSE:BAC)

Wealthcare Capital Partners LLC acquired a new stake in shares of Bank of America Co. (NYSE:BAC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,295 shares of the financial services provider’s stock, valued at approximately $321,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kennebec Savings Bank purchased a new stake in shares of Bank of America in the third quarter worth $29,000. Highline Wealth Partners LLC increased its stake in shares of Bank of America by 152.7% in the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 510 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new stake in shares of Bank of America in the fourth quarter worth $42,000. POM Investment Strategies LLC increased its stake in shares of Bank of America by 1,306.5% in the fourth quarter. POM Investment Strategies LLC now owns 1,083 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 1,006 shares in the last quarter. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Bank of America in the third quarter worth $45,000. Institutional investors own 70.71% of the company’s stock.

Bank of America Trading Down 1.6 %

NYSE:BAC opened at $46.65 on Tuesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market cap of $357.91 billion, a P/E ratio of 14.49, a P/E/G ratio of 1.29 and a beta of 1.33. The firm has a 50-day simple moving average of $45.77 and a 200-day simple moving average of $42.93. Bank of America Co. has a one year low of $32.35 and a one year high of $48.08.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.77 by $0.05. The firm had revenue of $25.30 billion during 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 revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.70 EPS. Equities analysts anticipate that Bank of America Co. will post 3.69 EPS for the current fiscal year.

Bank of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be paid a dividend of $0.26 per share. 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 (DPR) is presently 32.30%.

Analyst Upgrades and Downgrades

BAC has been the subject of a number of analyst reports. Barclays increased their price objective on shares of Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. UBS Group upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $43.00 to $53.00 in a report on Tuesday, January 7th. HSBC upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Tuesday, January 7th. StockNews.com upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Finally, Morgan Stanley lifted their price target on shares of Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.58.

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.