Bank of America Co. (NYSE:BAC) Shares Bought by Auxano Advisors LLC

Auxano Advisors LLC grew its holdings in shares of Bank of America Co. (NYSE:BAC) by 234.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,356 shares of the financial services provider’s stock after purchasing an additional 19,179 shares during the period. Auxano Advisors LLC’s holdings in Bank of America were worth $921,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Schechter Investment Advisors LLC boosted its stake in shares of Bank of America by 8.2% during the 3rd quarter. Schechter Investment Advisors LLC now owns 55,348 shares of the financial services provider’s stock worth $1,515,000 after acquiring an additional 4,187 shares in the last quarter. Stonebridge Capital Advisors LLC boosted its stake in shares of Bank of America by 3.7% during the 3rd quarter. Stonebridge Capital Advisors LLC now owns 65,495 shares of the financial services provider’s stock worth $1,793,000 after acquiring an additional 2,332 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its stake in shares of Bank of America by 228.3% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 67,511 shares of the financial services provider’s stock worth $2,273,000 after acquiring an additional 46,950 shares in the last quarter. Sarasin & Partners LLP purchased a new stake in shares of Bank of America during the 4th quarter worth approximately $673,000. Finally, Pinnacle Associates Ltd. boosted its stake in shares of Bank of America by 30.0% during the 3rd quarter. Pinnacle Associates Ltd. now owns 978,784 shares of the financial services provider’s stock worth $26,799,000 after acquiring an additional 225,767 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BAC. Odeon Capital Group lowered Bank of America from a “buy” rating to a “hold” rating and set a $33.90 target price on the stock. in a research note on Tuesday, January 16th. Barclays boosted their target price 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. Evercore ISI lifted their price target on shares of Bank of America from $37.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Wolfe Research raised shares of Bank of America from a “peer perform” rating to an “outperform” rating and set a $42.00 price objective on the stock in a research note on Friday, April 19th. Finally, Oppenheimer boosted their price target on Bank of America from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $38.59.

Bank of America Trading Down 1.4 %

Shares of BAC stock traded down $0.54 during mid-day trading on Tuesday, reaching $37.01. The company’s stock had a trading volume of 30,048,562 shares, compared to its average volume of 41,117,512. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $292.03 billion, a PE ratio of 12.90, a price-to-earnings-growth ratio of 1.69 and a beta of 1.39. The company’s 50 day simple moving average is $36.20 and its 200-day simple moving average is $32.88. Bank of America Co. has a 12-month low of $24.96 and a 12-month high of $38.49.

Bank of America (NYSE:BAC) last released its quarterly earnings data 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 return on equity of 10.88% and a net margin of 13.94%. The company had revenue of $25.82 billion for the quarter, compared to analyst estimates of $25.49 billion. During the same period last year, the company posted $0.94 earnings per share. The firm’s revenue was down 1.7% compared to the same quarter last year. On average, research analysts predict that Bank of America Co. will post 3.19 EPS for the current fiscal year.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.59%. The ex-dividend date is Friday, June 7th. Bank of America’s dividend payout ratio (DPR) is presently 33.22%.

Bank of America Company 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.