Buffington Mohr McNeal Purchases 118,695 Shares of Bank of America Co. (NYSE:BAC)

Buffington Mohr McNeal boosted its position in shares of Bank of America Co. (NYSE:BAC) by 266.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 163,314 shares of the financial services provider’s stock after acquiring an additional 118,695 shares during the period. Bank of America makes up approximately 1.1% of Buffington Mohr McNeal’s holdings, making the stock its 29th largest holding. Buffington Mohr McNeal’s holdings in Bank of America were worth $5,499,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BAC. Fortis Group Advisors LLC bought a new stake in shares of Bank of America in the 3rd quarter valued at approximately $25,000. Castleview Partners LLC bought a new stake in shares of Bank of America in the 1st quarter valued at approximately $28,000. Glass Jacobson Investment Advisors llc grew its stake 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 purchasing an additional 504 shares during the period. ZRC Wealth Management LLC grew its stake 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 purchasing an additional 750 shares during the period. Finally, Live Oak Investment Partners bought a new stake in shares of Bank of America in the 4th quarter valued at approximately $39,000. 70.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on BAC. 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. Keefe, Bruyette & Woods increased their price target on Bank of America from $33.00 to $37.00 and gave the stock a “market perform” rating in a research report on Friday, April 5th. Erste Group Bank upgraded Bank of America from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Odeon Capital Group lowered Bank of America from a “buy” rating to a “hold” rating and set a $33.90 price target on the stock. in a research report on Tuesday, January 16th. Finally, BMO Capital Markets decreased their price target on Bank of America from $37.00 to $36.00 and set a “market perform” rating on the stock in a research report on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $38.29.

Bank of America Trading Down 3.4 %

Shares of BAC stock traded down $1.22 during trading hours on Tuesday, reaching $34.73. The company had a trading volume of 55,159,423 shares, compared to its average volume of 40,639,109. The company has a 50 day moving average of $35.48 and a 200 day moving average of $32.14. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market cap of $274.04 billion, a price-to-earnings ratio of 11.31, a P/E/G ratio of 1.63 and a beta of 1.39. Bank of America Co. has a 1-year low of $24.96 and a 1-year high of $38.35.

Bank of America (NYSE:BAC) last posted its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The company had revenue of $22 billion for the quarter, compared to the consensus estimate of $23.70 billion. Bank of America had a return on equity of 11.38% and a net margin of 15.42%. The firm’s quarterly revenue was down 10.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.85 EPS. On average, equities research analysts anticipate that Bank of America Co. will post 3.13 EPS for the current year.

Bank of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 1st were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.76%. The ex-dividend date was Thursday, February 29th. Bank of America’s payout ratio is presently 31.27%.

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