Mezzasalma Advisors LLC Purchases 2,121 Shares of Bank of America Co. (NYSE:BAC)

Mezzasalma Advisors LLC increased its holdings in Bank of America Co. (NYSE:BAC) by 23.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,043 shares of the financial services provider’s stock after buying an additional 2,121 shares during the period. Mezzasalma Advisors LLC’s holdings in Bank of America were worth $485,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of BAC. MWA Asset Management increased its position in shares of Bank of America by 1.4% in the fourth quarter. MWA Asset Management now owns 44,658 shares of the financial services provider’s stock worth $1,963,000 after purchasing an additional 600 shares during the last quarter. Vest Financial LLC boosted its holdings in Bank of America by 10.8% during the 4th quarter. Vest Financial LLC now owns 770,881 shares of the financial services provider’s stock valued at $33,880,000 after acquiring an additional 75,157 shares during the period. Shepherd Financial Partners LLC grew its holdings in shares of Bank of America by 23.7% in the fourth quarter. Shepherd Financial Partners LLC now owns 39,134 shares of the financial services provider’s stock worth $1,720,000 after purchasing an additional 7,487 shares during the last quarter. SOA Wealth Advisors LLC. raised its stake in shares of Bank of America by 1.9% during the fourth quarter. SOA Wealth Advisors LLC. now owns 19,543 shares of the financial services provider’s stock valued at $859,000 after acquiring an additional 371 shares during the last quarter. Finally, Generate Investment Management Ltd raised its holdings in shares of Bank of America by 219.3% during the fourth quarter. Generate Investment Management Ltd now owns 648,340 shares of the financial services provider’s stock valued at $28,495,000 after acquiring an additional 445,304 shares in the last quarter. 70.71% of the stock is currently owned by institutional investors.

Bank of America Trading Down 0.7 %

Shares of Bank of America stock opened at $47.43 on Friday. The company’s fifty day moving average is $45.77 and its two-hundred day moving average is $42.88. 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 has a market capitalization of $363.89 billion, a P/E ratio of 14.73, a PEG ratio of 1.29 and a beta of 1.33.

Bank of America (NYSE:BAC) last issued its earnings results 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 company 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%. The business’s revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.70 EPS. Analysts forecast that Bank of America Co. will post 3.69 earnings per share for the current year.

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.19%. The ex-dividend date is Friday, March 7th. Bank of America’s payout ratio is 32.30%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. HSBC raised Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Tuesday, January 7th. Wells Fargo & Company lifted their target price on Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Evercore ISI dropped their target price on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a report on Friday, January 17th. Phillip Securities raised shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price target for the company in a research report on Friday, October 18th. Finally, Hsbc Global Res upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued 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 has a consensus rating of “Moderate Buy” and an average 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.