Bank of America Co. (NYSE:BAC) Shares Purchased by Meitav Investment House Ltd.

Meitav Investment House Ltd. boosted its holdings in Bank of America Co. (NYSE:BAC) by 8.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 95,043 shares of the financial services provider’s stock after purchasing an additional 7,762 shares during the quarter. Meitav Investment House Ltd.’s holdings in Bank of America were worth $4,176,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in BAC. Collier Financial purchased a new stake in shares of Bank of America during the fourth quarter valued at approximately $25,000. Life Planning Partners Inc increased its holdings in shares of Bank of America by 3,883.2% in the 4th quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 545,936 shares during the last quarter. Kennebec Savings Bank acquired a new position in shares of Bank of America in the 3rd quarter valued at about $29,000. Highline Wealth Partners LLC grew its holdings in shares of Bank of America by 152.7% during the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 510 shares during the last quarter. Finally, Retirement Wealth Solutions LLC bought a new stake in Bank of America in the fourth quarter valued at $42,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Price Performance

Shares of Bank of America stock opened at $46.03 on Thursday. The firm has a fifty day moving average price of $45.79 and a two-hundred day moving average price of $43.25. The company has a market cap of $353.14 billion, a PE ratio of 14.29, a price-to-earnings-growth ratio of 1.27 and a beta of 1.33. 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 Co. has a fifty-two week low of $33.17 and a fifty-two week high of $48.08.

Bank of America (NYSE:BAC) last issued its earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, topping 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 analysts’ expectations of $25.12 billion. During the same period last year, the business earned $0.70 earnings per share. Bank of America’s quarterly revenue was up 15.0% compared to the same quarter last year. Analysts expect that Bank of America Co. will post 3.69 EPS for the current year.

Bank of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Friday, March 7th. Bank of America’s dividend payout ratio is 32.30%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods boosted their price objective on Bank of America from $50.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. HSBC upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Tuesday, January 7th. 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. Citigroup raised Bank of America from a “neutral” rating to a “buy” rating and upped their price target for the company from $46.00 to $54.00 in a research report on Friday, November 8th. Finally, Barclays upped their price target on shares of Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $48.58.

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.