Hedeker Wealth LLC Buys 4,248 Shares of Bank of America Corp (BAC)

Hedeker Wealth LLC lifted its stake in shares of Bank of America Corp (NYSE:BAC) by 2.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 166,613 shares of the financial services provider’s stock after acquiring an additional 4,248 shares during the quarter. Bank of America makes up about 3.3% of Hedeker Wealth LLC’s investment portfolio, making the stock its 3rd biggest position. Hedeker Wealth LLC’s holdings in Bank of America were worth $4,105,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Windsor Group LTD grew its stake in Bank of America by 5.4% in the 4th quarter. Windsor Group LTD now owns 44,768 shares of the financial services provider’s stock valued at $1,103,000 after acquiring an additional 2,300 shares during the last quarter. BKD Wealth Advisors LLC grew its position in shares of Bank of America by 9.6% during the fourth quarter. BKD Wealth Advisors LLC now owns 42,130 shares of the financial services provider’s stock worth $1,038,000 after buying an additional 3,703 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in shares of Bank of America by 5.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 446,287 shares of the financial services provider’s stock worth $10,996,000 after buying an additional 24,623 shares in the last quarter. RPG Investment Advisory LLC lifted its stake in Bank of America by 0.6% during the fourth quarter. RPG Investment Advisory LLC now owns 231,229 shares of the financial services provider’s stock worth $5,698,000 after purchasing an additional 1,317 shares during the last quarter. Finally, Mackey Komara & Dankovich LLC bought a new position in Bank of America during the fourth quarter worth $54,000. Institutional investors and hedge funds own 64.32% of the company’s stock.

BAC stock opened at $28.99 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $291.43 billion, a price-to-earnings ratio of 11.11, a P/E/G ratio of 1.28 and a beta of 1.31. Bank of America Corp has a 1 year low of $22.66 and a 1 year high of $33.05.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Wednesday, January 16th. The financial services provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Bank of America had a net margin of 25.45% and a return on equity of 11.66%. The business had revenue of $22.89 billion for the quarter, compared to analysts’ expectations of $22.37 billion. During the same period in the previous year, the business earned $0.48 earnings per share. The company’s revenue was up 10.7% on a year-over-year basis. As a group, analysts predict that Bank of America Corp will post 2.77 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 28th. Investors of record on Friday, December 7th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date was Thursday, December 6th. Bank of America’s dividend payout ratio is currently 22.99%.

Several equities analysts recently issued reports on the company. Wolfe Research assumed coverage on Bank of America in a research note on Tuesday, September 25th. They set an “outperform” rating on the stock. ValuEngine upgraded Bank of America from a “sell” rating to a “hold” rating in a research note on Thursday, November 8th. Wells Fargo & Co set a $36.00 price objective on Bank of America and gave the stock a “buy” rating in a research note on Wednesday. Barclays restated a “hold” rating on shares of Bank of America in a research note on Thursday. Finally, BMO Capital Markets raised their price objective on Bank of America from $35.00 to $36.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 16th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $33.71.

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About Bank of America

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 through four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.

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Institutional Ownership by Quarter for Bank of America (NYSE:BAC)

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