Weil Company Inc. Invests $214,000 in Bank of America Co. (NYSE:BAC)

Weil Company Inc. acquired a new position in Bank of America Co. (NYSE:BAC) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 4,877 shares of the financial services provider’s stock, valued at approximately $214,000.

A number of other hedge funds have also bought and sold shares of the business. Collier Financial purchased a new position in shares of Bank of America in the 4th quarter worth $25,000. Kennebec Savings Bank bought a new position in Bank of America in the third quarter valued at about $29,000. Highline Wealth Partners LLC lifted its holdings in 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 valued at $37,000 after acquiring an additional 510 shares during the period. Retirement Wealth Solutions LLC purchased a new position in Bank of America in the fourth quarter worth about $42,000. Finally, POM Investment Strategies LLC grew its stake in shares of Bank of America by 1,306.5% during the 4th quarter. POM Investment Strategies LLC now owns 1,083 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 1,006 shares during the period. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Stock Down 1.1 %

BAC opened at $43.97 on Wednesday. Bank of America Co. has a 52 week low of $33.53 and a 52 week high of $48.08. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. The firm has a 50-day simple moving average of $45.71 and a two-hundred day simple moving average of $43.50. The company has a market capitalization of $337.35 billion, a PE ratio of 13.65, a price-to-earnings-growth ratio of 1.21 and a beta of 1.33.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. The business had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The company’s revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.70 EPS. Analysts forecast that Bank of America Co. will post 3.7 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be given a dividend of $0.26 per share. The ex-dividend date is Friday, March 7th. This represents a $1.04 annualized dividend and a yield of 2.37%. Bank of America’s dividend payout ratio (DPR) is currently 32.30%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on BAC shares. Hsbc Global Res raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Wells Fargo & Company upped their price objective on Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Barclays lifted their target price 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. Citigroup raised Bank of America from a “neutral” rating to a “buy” rating and boosted their price target for the company from $46.00 to $54.00 in a report on Friday, November 8th. Finally, Morgan Stanley raised their price objective on 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 assigned a hold rating, fifteen have assigned a buy rating and two have assigned a strong 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 target price of $48.58.

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.