Country Club Bank Buys 2,471 Shares of Bank of America Co. (NYSE:BAC)

Country Club Bank boosted its stake in Bank of America Co. (NYSE:BAC) by 3.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 70,102 shares of the financial services provider’s stock after acquiring an additional 2,471 shares during the period. Country Club Bank’s holdings in Bank of America were worth $3,078,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Kennebec Savings Bank bought a new stake in Bank of America in the third quarter valued at approximately $29,000. Highline Wealth Partners LLC boosted its holdings in shares of Bank of America by 152.7% during the 4th quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock worth $37,000 after buying an additional 510 shares in the last quarter. Christopher J. Hasenberg Inc boosted its holdings in shares of Bank of America by 525.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock worth $40,000 after buying an additional 852 shares in the last quarter. Retirement Wealth Solutions LLC bought a new position in shares of Bank of America during the 4th quarter worth approximately $42,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of Bank of America during the 3rd quarter worth approximately $45,000. 70.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BAC has been the topic of a number of research analyst reports. Citigroup upgraded Bank of America from a “neutral” rating to a “buy” rating and increased their price target for the stock from $46.00 to $54.00 in a report on Friday, November 8th. Evercore ISI cut their price target on Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a report on Friday, January 17th. StockNews.com upgraded Bank of America from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Phillip Securities upgraded Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 target price on the stock in a report on Friday, October 18th. Finally, Keefe, Bruyette & Woods increased their target price on Bank of America from $50.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $48.58.

Bank of America Trading Up 1.1 %

Shares of Bank of America stock opened at $46.73 on Wednesday. Bank of America Co. has a 1 year low of $32.35 and a 1 year high of $48.08. The firm has a market cap of $358.57 billion, a PE ratio of 14.51, a P/E/G ratio of 1.26 and a beta of 1.33. The stock has a fifty day moving average price of $45.81 and a 200-day moving average price of $42.79. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78.

Bank of America (NYSE:BAC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.05. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The firm had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.12 billion. During the same period last year, the firm posted $0.70 EPS. The business’s revenue was up 15.0% compared to the same quarter last year. Equities research analysts anticipate that Bank of America Co. will post 3.67 EPS for the current year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend is Friday, March 7th. Bank of America’s dividend payout ratio is presently 32.30%.

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.