Bank of America Co. (NYSE:BAC) Stock Position Lifted by McGlone Suttner Wealth Management Inc.

McGlone Suttner Wealth Management Inc. boosted its position in shares of Bank of America Co. (NYSE:BAC) by 5.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,182 shares of the financial services provider’s stock after buying an additional 1,054 shares during the quarter. McGlone Suttner Wealth Management Inc.’s holdings in Bank of America were worth $680,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Buckingham Strategic Partners boosted its stake in Bank of America by 23.7% during the second quarter. Buckingham Strategic Partners now owns 54,963 shares of the financial services provider’s stock valued at $1,577,000 after buying an additional 10,535 shares in the last quarter. Schechter Investment Advisors LLC boosted its stake in Bank of America by 8.2% during the third quarter. Schechter Investment Advisors LLC now owns 55,348 shares of the financial services provider’s stock valued at $1,515,000 after buying an additional 4,187 shares in the last quarter. Eastern Bank boosted its stake in Bank of America by 354.5% during the third quarter. Eastern Bank now owns 119,713 shares of the financial services provider’s stock valued at $3,278,000 after buying an additional 93,375 shares in the last quarter. Stonebridge Capital Advisors LLC boosted its position in shares of Bank of America by 3.7% in the 3rd quarter. Stonebridge Capital Advisors LLC now owns 65,495 shares of the financial services provider’s stock valued at $1,793,000 after purchasing an additional 2,332 shares during the period. Finally, Kingswood Wealth Advisors LLC boosted its position in shares of Bank of America by 228.3% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 67,511 shares of the financial services provider’s stock valued at $2,273,000 after purchasing an additional 46,950 shares during the period. Institutional investors own 70.71% of the company’s stock.

Bank of America Stock Up 0.3 %

Shares of Bank of America stock traded up $0.11 during trading on Thursday, hitting $37.92. 42,116,296 shares of the stock traded hands, compared to its average volume of 41,135,176. The stock has a market cap of $299.21 billion, a P/E ratio of 12.35, a PEG ratio of 1.70 and a beta of 1.38. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.80 and a current ratio of 0.80. Bank of America Co. has a twelve month low of $24.96 and a twelve month high of $38.00. The company has a fifty day moving average price of $34.47 and a two-hundred day moving average price of $31.31.

Bank of America (NYSE:BAC) last announced its quarterly earnings results 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 return on equity of 11.38% and a net margin of 15.42%. The business had revenue of $22 billion during the quarter, compared to analyst estimates of $23.70 billion. During the same period in the previous year, the company earned $0.85 EPS. The firm’s revenue was down 10.2% on a year-over-year basis. Equities research analysts predict that Bank of America Co. will post 3.11 EPS for the current fiscal year.

Bank of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 1st will be issued a $0.24 dividend. The ex-dividend date of this dividend is Thursday, February 29th. This represents a $0.96 annualized dividend and a yield of 2.53%. Bank of America’s dividend payout ratio (DPR) is currently 31.27%.

Wall Street Analysts Forecast Growth

BAC has been the subject of a number of recent analyst reports. Morgan Stanley upgraded Bank of America from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $32.00 to $41.00 in a research report on Tuesday, January 30th. Oppenheimer decreased their price target on Bank of America from $50.00 to $46.00 and set an “outperform” rating for the company in a research report on Tuesday, March 19th. Wells Fargo & Company increased their price target on Bank of America from $40.00 to $44.00 and gave the company an “overweight” rating in a research report on Thursday. Citigroup increased their price target on Bank of America from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. Finally, HSBC reissued a “hold” rating and issued a $39.00 price objective (up from $38.00) on shares of Bank of America in a research note on Thursday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $36.15.

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.