11,432 Shares in Bank of America Co. (NYSE:BAC) Purchased by Park Capital Management LLC WI

Park Capital Management LLC WI purchased a new position in Bank of America Co. (NYSE:BAC) during the 4th quarter, Holdings Channel reports. The fund purchased 11,432 shares of the financial services provider’s stock, valued at approximately $502,000.

Several other institutional investors also recently added to or reduced their stakes in BAC. Consolidated Planning Corp increased its position in Bank of America by 2.9% during the 4th quarter. Consolidated Planning Corp now owns 8,092 shares of the financial services provider’s stock valued at $356,000 after purchasing an additional 226 shares during the period. Raab & Moskowitz Asset Management LLC increased its position in Bank of America by 11.1% during the 4th quarter. Raab & Moskowitz Asset Management LLC now owns 86,700 shares of the financial services provider’s stock valued at $3,810,000 after purchasing an additional 8,633 shares during the period. MFG Wealth Management Inc. purchased a new position in Bank of America during the 4th quarter valued at about $1,741,000. Three Bridge Wealth Advisors LLC increased its position in Bank of America by 35.2% during the 4th quarter. Three Bridge Wealth Advisors LLC now owns 7,300 shares of the financial services provider’s stock valued at $321,000 after purchasing an additional 1,900 shares during the period. Finally, Clarity Capital Partners LLC increased its position in Bank of America by 16.2% during the 4th quarter. Clarity Capital Partners LLC now owns 8,695 shares of the financial services provider’s stock valued at $382,000 after purchasing an additional 1,209 shares during the period. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Stock Performance

Shares of NYSE BAC opened at $46.21 on Thursday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. Bank of America Co. has a 12 month low of $32.35 and a 12 month high of $48.08. The company has a 50 day simple moving average of $45.77 and a two-hundred day simple moving average of $43.00. The stock has a market cap of $354.56 billion, a price-to-earnings ratio of 14.35, a PEG 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 EPS for the quarter, beating the consensus estimate 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 business had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.12 billion. During the same period in the previous year, the business posted $0.70 EPS. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. As a group, analysts predict that Bank of America Co. will post 3.69 earnings per share for the current year.

Bank of America Dividend Announcement

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 dividend yield of 2.25%. The ex-dividend date is Friday, March 7th. Bank of America’s dividend payout ratio is currently 32.30%.

Wall Street Analyst Weigh In

BAC has been the topic of a number of research reports. UBS Group raised shares of Bank of America from a “neutral” rating to a “buy” rating and raised their target price for the company from $43.00 to $53.00 in a research report on Tuesday, January 7th. Wells Fargo & Company lifted their price objective on shares of Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Evercore ISI cut their price objective on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a research report on Friday, January 17th. Hsbc Global Res raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, Phillip Securities raised shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price objective on the stock in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Bank of America currently has an average rating of “Moderate Buy” and an average price target 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.