Impact Capital Partners LLC Invests $402,000 in Bank of America Co. (NYSE:BAC)

Impact Capital Partners LLC purchased a new position in shares of Bank of America Co. (NYSE:BAC) during the fourth quarter, Holdings Channel.com reports. The fund purchased 9,141 shares of the financial services provider’s stock, valued at approximately $402,000.

A number of other large investors have also modified their holdings of BAC. Swedbank AB boosted its position in Bank of America by 0.7% in the third quarter. Swedbank AB now owns 7,042,374 shares of the financial services provider’s stock valued at $279,441,000 after buying an additional 50,849 shares during the last quarter. Principal Financial Group Inc. boosted its position in Bank of America by 3.8% in the third quarter. Principal Financial Group Inc. now owns 15,415,630 shares of the financial services provider’s stock valued at $611,692,000 after buying an additional 569,385 shares during the last quarter. Harbour Investments Inc. boosted its position in Bank of America by 3.5% in the third quarter. Harbour Investments Inc. now owns 27,487 shares of the financial services provider’s stock valued at $1,091,000 after buying an additional 923 shares during the last quarter. GSA Capital Partners LLP boosted its position in Bank of America by 63.7% in the third quarter. GSA Capital Partners LLP now owns 31,875 shares of the financial services provider’s stock valued at $1,265,000 after buying an additional 12,402 shares during the last quarter. Finally, Haverford Trust Co boosted its position in Bank of America by 6.4% in the third quarter. Haverford Trust Co now owns 34,412 shares of the financial services provider’s stock valued at $1,365,000 after buying an additional 2,084 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Trading Down 0.7 %

Shares of BAC stock opened at $39.64 on Friday. The stock has a 50 day simple moving average of $45.27 and a 200-day simple moving average of $43.70. Bank of America Co. has a 1-year low of $34.15 and a 1-year high of $48.08. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. The company has a market cap of $301.40 billion, a price-to-earnings ratio of 12.31, a PEG ratio of 1.21 and a beta of 1.32.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 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 the consensus estimate of $25.12 billion. During the same period in the prior year, the company earned $0.70 EPS. The firm’s revenue was up 15.0% compared to the same quarter last year. On average, equities research analysts expect that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.62%. The ex-dividend date is Friday, March 7th. Bank of America’s dividend payout ratio is currently 32.30%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on BAC shares. UBS Group upgraded Bank of America from a “neutral” rating to a “buy” rating and upped their target price for the company from $43.00 to $53.00 in a research report on Tuesday, January 7th. Hsbc Global Res upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Morgan Stanley upped their target price on Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. Robert W. Baird upgraded Bank of America from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $45.00 to $50.00 in a research report on Friday, March 7th. Finally, Keefe, Bruyette & Woods upped 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Bank of America has a consensus rating of “Moderate Buy” and a consensus target price of $48.64.

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.