Venturi Wealth Management LLC Purchases 7,353 Shares of Bank of America Co. (NYSE:BAC)

Venturi Wealth Management LLC increased its holdings in shares of Bank of America Co. (NYSE:BAC) by 38.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,643 shares of the financial services provider’s stock after acquiring an additional 7,353 shares during the quarter. Venturi Wealth Management LLC’s holdings in Bank of America were worth $1,171,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Accent Capital Management LLC raised its holdings in shares of Bank of America by 43.0% in the 3rd quarter. Accent Capital Management LLC now owns 39,500 shares of the financial services provider’s stock worth $1,567,000 after purchasing an additional 11,873 shares during the period. Summit Global Investments lifted its position in shares of Bank of America by 237.6% during the 3rd quarter. Summit Global Investments now owns 51,278 shares of the financial services provider’s stock valued at $2,035,000 after buying an additional 36,089 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Bank of America by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 140,255,970 shares of the financial services provider’s stock valued at $5,546,871,000 after buying an additional 1,700,141 shares during the last quarter. Clarendon Private LLC bought a new position in Bank of America in the 4th quarter worth approximately $798,000. Finally, Baker Avenue Asset Management LP grew its position in shares of Bank of America by 125.8% in the third quarter. Baker Avenue Asset Management LP now owns 61,002 shares of the financial services provider’s stock valued at $2,421,000 after purchasing an additional 33,983 shares in the last quarter. Institutional investors own 70.71% of the company’s stock.

Bank of America Stock Down 1.1 %

NYSE:BAC opened at $46.46 on Wednesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market cap of $356.51 billion, a P/E ratio of 14.43, a P/E/G ratio of 1.29 and a beta of 1.33. Bank of America Co. has a fifty-two week low of $33.17 and a fifty-two week high of $48.08. The firm has a 50-day simple moving average of $45.79 and a two-hundred day simple moving average of $43.23.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The company had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.12 billion. During the same period in the previous year, the business earned $0.70 EPS. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. Analysts predict that Bank of America Co. will post 3.69 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.04 annualized dividend and a dividend yield of 2.24%. Bank of America’s dividend payout ratio (DPR) is presently 32.30%.

Analyst Ratings Changes

BAC has been the topic of a number of research analyst reports. Evercore ISI decreased their target price on Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a research note on Friday, January 17th. Citigroup upgraded Bank of America from a “neutral” rating to a “buy” rating and raised their price target for the stock from $46.00 to $54.00 in a research report on Friday, November 8th. UBS Group raised shares of Bank of America from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $43.00 to $53.00 in a research note on Tuesday, January 7th. Barclays increased their price target on shares of Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Finally, Morgan Stanley upped their price objective on shares of Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $48.58.

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.