Columbia Trust Co 01012016 Purchases 10,745 Shares of Bank of America Co. (NYSE:BAC)

Columbia Trust Co 01012016 grew its position in shares of Bank of America Co. (NYSE:BAC) by 18.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,339 shares of the financial services provider’s stock after buying an additional 10,745 shares during the quarter. Bank of America accounts for approximately 1.1% of Columbia Trust Co 01012016’s holdings, making the stock its 23rd largest position. Columbia Trust Co 01012016’s holdings in Bank of America were worth $2,368,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Fort Sheridan Advisors LLC lifted its stake in Bank of America by 0.8% in the 4th quarter. Fort Sheridan Advisors LLC now owns 39,526 shares of the financial services provider’s stock worth $1,309,000 after purchasing an additional 303 shares in the last quarter. Selective Wealth Management Inc. lifted its stake in Bank of America by 2.0% in the 4th quarter. Selective Wealth Management Inc. now owns 17,351 shares of the financial services provider’s stock worth $586,000 after purchasing an additional 334 shares in the last quarter. Fort Point Capital Partners LLC lifted its stake in Bank of America by 2.2% in the 1st quarter. Fort Point Capital Partners LLC now owns 15,918 shares of the financial services provider’s stock worth $656,000 after purchasing an additional 336 shares in the last quarter. Sweet Financial Partners LLC lifted its stake in Bank of America by 1.8% in the 4th quarter. Sweet Financial Partners LLC now owns 19,529 shares of the financial services provider’s stock worth $658,000 after purchasing an additional 344 shares in the last quarter. Finally, SRS Capital Advisors Inc. lifted its stake in Bank of America by 3.5% in the 1st quarter. SRS Capital Advisors Inc. now owns 10,765 shares of the financial services provider’s stock worth $308,000 after purchasing an additional 366 shares in the last quarter. 70.71% of the stock is owned by institutional investors.

Insider Activity at Bank of America

In other Bank of America news, major shareholder Of America Corp /De/ Bank bought 5,398 shares of Bank of America stock in a transaction dated Wednesday, December 27th. The stock was acquired at an average cost of $10.56 per share, with a total value of $57,002.88. Following the completion of the acquisition, the insider now owns 5,398 shares of the company’s stock, valued at $57,002.88. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.29% of the stock is owned by corporate insiders.

Bank of America Stock Up 0.7 %

Shares of Bank of America stock traded up $0.25 during trading on Tuesday, hitting $37.11. 33,662,004 shares of the stock were exchanged, compared to its average volume of 41,197,430. The stock has a market cap of $292.82 billion, a price-to-earnings ratio of 12.09, a price-to-earnings-growth ratio of 1.69 and a beta of 1.38. The firm’s 50-day moving average price is $34.25 and its 200 day moving average price is $31.20. Bank of America Co. has a 12-month low of $24.96 and a 12-month high of $37.61. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.80 and a quick ratio of 0.80.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.01. Bank of America had a net margin of 15.42% and a return on equity of 11.38%. The business had revenue of $22 billion during the quarter, compared to analysts’ expectations of $23.70 billion. During the same period in the previous year, the company earned $0.85 EPS. The company’s revenue for the quarter was down 10.2% on a year-over-year basis. As a group, analysts forecast that Bank of America Co. will post 3.12 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 1st will be given a $0.24 dividend. The ex-dividend date is Thursday, February 29th. This represents a $0.96 dividend on an annualized basis and a yield of 2.59%. Bank of America’s dividend payout ratio (DPR) is presently 31.27%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BAC. Citigroup raised their target price on shares of Bank of America from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. Oppenheimer cut their price target on shares of Bank of America from $50.00 to $46.00 and set an “outperform” rating for the company in a report on Tuesday, March 19th. Barclays raised their price target on shares of Bank of America from $39.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. BMO Capital Markets cut their price target on shares of Bank of America from $37.00 to $36.00 and set a “market perform” rating for the company in a report on Tuesday, January 16th. Finally, The Goldman Sachs Group lifted their target price on shares of Bank of America from $30.00 to $33.00 and gave the company a “buy” rating in a report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Bank of America presently has a consensus rating of “Moderate Buy” and an average price target of $35.65.

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.