Bank of America Co. (NYSE:BAC) Shares Acquired by G&S Capital LLC

G&S Capital LLC increased its holdings in shares of Bank of America Co. (NYSE:BAC) by 70.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 60,581 shares of the financial services provider’s stock after acquiring an additional 25,020 shares during the period. G&S Capital LLC’s holdings in Bank of America were worth $2,663,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. CX Institutional boosted its holdings in Bank of America by 5.3% during the third quarter. CX Institutional now owns 33,263 shares of the financial services provider’s stock worth $1,320,000 after buying an additional 1,667 shares in the last quarter. Wesbanco Bank Inc. lifted its position in shares of Bank of America by 0.9% during the 3rd quarter. Wesbanco Bank Inc. now owns 39,790 shares of the financial services provider’s stock valued at $1,579,000 after acquiring an additional 348 shares during the period. Occidental Asset Management LLC boosted its stake in shares of Bank of America by 13.7% during the 3rd quarter. Occidental Asset Management LLC now owns 9,787 shares of the financial services provider’s stock worth $388,000 after acquiring an additional 1,183 shares in the last quarter. Swedbank AB raised its holdings in Bank of America by 0.7% during the third quarter. Swedbank AB now owns 7,042,374 shares of the financial services provider’s stock worth $279,441,000 after purchasing an additional 50,849 shares during the last quarter. Finally, Lynch & Associates IN boosted its position in Bank of America by 0.6% during the third quarter. Lynch & Associates IN now owns 146,957 shares of the financial services provider’s stock worth $5,831,000 after purchasing an additional 906 shares in the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Price Performance

BAC opened at $46.21 on Thursday. Bank of America Co. has a 1 year low of $32.35 and a 1 year high of $48.08. 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 company’s 50 day simple moving average is $45.76 and its 200 day simple moving average is $43.02. The stock has a market capitalization of $354.56 billion, a PE ratio of 14.35, a P/E/G ratio of 1.29 and a beta of 1.33.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.05. The company had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.12 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.70 EPS. As a group, sell-side analysts expect that Bank of America Co. will post 3.69 EPS for the current year.

Bank of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.25%. Bank of America’s dividend payout ratio (DPR) is 32.30%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Barclays raised their price target on Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. StockNews.com upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Citigroup raised shares of Bank of America from a “neutral” rating to a “buy” rating and upped their price target for the company from $46.00 to $54.00 in a report on Friday, November 8th. Evercore ISI dropped their price objective on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a research note on Friday, January 17th. Finally, UBS Group raised Bank of America from a “neutral” rating to a “buy” rating and upped their target price for the company from $43.00 to $53.00 in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, six have given 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, Bank of America has a consensus rating of “Moderate Buy” and a consensus price target of $48.58.

About Bank of America

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.