Threadgill Financial LLC Boosts Stake in Bank of America Co. (NYSE:BAC)

Threadgill Financial LLC boosted its stake in shares of Bank of America Co. (NYSE:BAC) by 0.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 94,418 shares of the financial services provider’s stock after acquiring an additional 425 shares during the period. Bank of America accounts for 2.1% of Threadgill Financial LLC’s holdings, making the stock its 17th biggest position. Threadgill Financial LLC’s holdings in Bank of America were worth $3,179,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Fortis Group Advisors LLC acquired a new position in shares of Bank of America in the 3rd quarter valued at $25,000. Castleview Partners LLC acquired a new position in shares of Bank of America in the 1st quarter valued at $28,000. Glass Jacobson Investment Advisors llc increased its position in shares of Bank of America by 98.1% in 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 increased its position in shares of Bank of America by 192.3% in 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 acquired a new position in shares of Bank of America in the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on BAC shares. Oppenheimer cut their price target on Bank of America from $50.00 to $46.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 19th. Citigroup increased their price target on Bank of America from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. HSBC reaffirmed a “hold” rating and set a $39.00 price target (up from $38.00) on shares of Bank of America in a research report on Thursday. Barclays increased their price target on Bank of America from $39.00 to $43.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Finally, The Goldman Sachs Group increased their price target on Bank of America from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.90.

Bank of America Stock Performance

NYSE:BAC opened at $37.83 on Thursday. The firm has a market capitalization of $298.50 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 1.70 and a beta of 1.38. The business’s fifty day moving average price is $34.35 and its 200 day moving average price is $31.26. 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 Co. has a 12 month low of $24.96 and a 12 month high of $37.85.

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, beating 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 company had revenue of $22 billion during the quarter, compared to the consensus estimate of $23.70 billion. During the same quarter in the prior year, the firm posted $0.85 earnings per share. Bank of America’s revenue for the quarter was down 10.2% on a year-over-year basis. On average, sell-side analysts anticipate that Bank of America Co. will post 3.11 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 1st will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, February 29th. This represents a $0.96 annualized dividend and a dividend yield of 2.54%. Bank of America’s dividend payout ratio (DPR) is 31.27%.

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.