Bigelow Investment Advisors LLC Purchases 813 Shares of Bank of America Co. (NYSE:BAC)

Bigelow Investment Advisors LLC boosted its position in Bank of America Co. (NYSE:BAC) by 4.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 20,840 shares of the financial services provider’s stock after purchasing an additional 813 shares during the period. Bigelow Investment Advisors LLC’s holdings in Bank of America were worth $702,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Fortis Group Advisors LLC bought a new position in shares of Bank of America during the 3rd quarter valued at approximately $25,000. Castleview Partners LLC bought a new position in shares of Bank of America during the 1st quarter valued at approximately $28,000. Glass Jacobson Investment Advisors llc grew its position in shares of Bank of America by 98.1% during the 3rd quarter. Glass Jacobson Investment Advisors llc now owns 1,018 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 504 shares during the period. ZRC Wealth Management LLC grew its position in shares of Bank of America by 192.3% during the 4th quarter. ZRC Wealth Management LLC now owns 1,140 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 750 shares during the period. Finally, Live Oak Investment Partners bought a new position in shares of Bank of America during the 4th quarter valued at approximately $39,000. 70.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BAC has been the subject of a number of research reports. Jefferies Financial Group increased their target price on shares of Bank of America from $36.00 to $39.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Citigroup upped their price target on shares of Bank of America from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. HSBC restated a “hold” rating and set a $39.00 price target (up from $38.00) on shares of Bank of America in a research note on Thursday, March 28th. Barclays upped their price target on shares of Bank of America from $39.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Finally, Oppenheimer dropped their price target on shares of Bank of America from $46.00 to $45.00 and set an “outperform” rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, Bank of America currently has a consensus rating of “Hold” and a consensus target price of $38.53.

Bank of America Trading Up 3.4 %

Shares of BAC stock traded up $1.20 on Friday, hitting $36.97. 55,900,253 shares of the company’s stock traded hands, compared to its average volume of 41,777,957. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.80 and a current ratio of 0.79. Bank of America Co. has a one year low of $24.96 and a one year high of $38.35. The company’s fifty day simple moving average is $35.61 and its 200 day simple moving average is $32.24. The stock has a market capitalization of $291.72 billion, a price-to-earnings ratio of 12.81, a P/E/G ratio of 1.59 and a beta of 1.39.

Bank of America (NYSE:BAC) last released its earnings results on Tuesday, April 16th. The financial services provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.77 by $0.06. Bank of America had a net margin of 13.94% and a return on equity of 10.88%. The company had revenue of $25.82 billion for the quarter, compared to analyst estimates of $25.49 billion. During the same quarter last year, the firm earned $0.94 EPS. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. Equities analysts forecast that Bank of America Co. will post 3.16 EPS for the current year.

Bank of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 1st were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date was Thursday, February 29th. Bank of America’s dividend payout ratio (DPR) is presently 33.22%.

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.