Sentinel Trust Co. LBA Buys 5,285 Shares of Bank of America Co. (NYSE:BAC)

Sentinel Trust Co. LBA grew its stake in shares of Bank of America Co. (NYSE:BAC) by 23.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,905 shares of the financial services provider’s stock after acquiring an additional 5,285 shares during the quarter. Sentinel Trust Co. LBA’s holdings in Bank of America were worth $1,226,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in BAC. Collier Financial purchased a new stake in Bank of America in the fourth quarter worth approximately $25,000. Life Planning Partners Inc lifted its holdings in shares of Bank of America by 3,883.2% during the 4th quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider’s stock valued at $25,000 after buying an additional 545,936 shares during the period. Kennebec Savings Bank purchased a new position in shares of Bank of America in the 3rd quarter worth $29,000. Highline Wealth Partners LLC grew its holdings 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 acquiring an additional 510 shares during the period. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Bank of America in the fourth quarter worth $42,000. 70.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on BAC. Citigroup raised Bank of America from a “neutral” rating to a “buy” rating and raised their target price for the stock from $46.00 to $54.00 in a research report on Friday, November 8th. Barclays raised their price objective on shares of Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Evercore ISI cut their target price on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a research report on Friday, January 17th. Keefe, Bruyette & Woods increased their price target on shares of Bank of America from $50.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Morgan Stanley boosted their price objective on shares of Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $48.58.

Bank of America Trading Up 0.5 %

Bank of America stock opened at $44.17 on Friday. Bank of America Co. has a 1 year low of $34.03 and a 1 year high of $48.08. The firm’s 50 day moving average price is $45.74 and its 200-day moving average price is $43.50. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a market cap of $338.87 billion, a P/E ratio of 13.72, a PEG ratio of 1.21 and a beta of 1.33.

Bank of America (NYSE:BAC) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The company had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.12 billion. During the same period in the previous year, the firm posted $0.70 EPS. Bank of America’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, equities analysts predict that Bank of America Co. will post 3.7 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The company also recently declared 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. This represents a $1.04 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date is Friday, March 7th. Bank of America’s payout ratio is presently 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.