Bank of America Co. (NYSE:BAC) Shares Bought by Three Bridge Wealth Advisors LLC

Three Bridge Wealth Advisors LLC grew its stake in Bank of America Co. (NYSE:BAC) by 35.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,300 shares of the financial services provider’s stock after buying an additional 1,900 shares during the quarter. Three Bridge Wealth Advisors LLC’s holdings in Bank of America were worth $321,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Collier Financial acquired a new position in Bank of America in the fourth quarter valued at approximately $25,000. Kennebec Savings Bank purchased a new position in shares of Bank of America during the 3rd quarter valued at approximately $29,000. Highline Wealth Partners LLC lifted its stake in shares of Bank of America by 152.7% in the 4th 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 period. Retirement Wealth Solutions LLC purchased a new stake in Bank of America during the fourth quarter worth $42,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Bank of America during the third quarter valued at $45,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on BAC shares. Barclays upped their price objective on shares of Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Hsbc Global Res raised Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods raised their price objective on Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. HSBC upgraded Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Tuesday, January 7th. Finally, 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 report on Friday, January 17th. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $48.58.

Bank of America Price Performance

NYSE:BAC opened at $46.21 on Thursday. The stock has a 50 day moving average price of $45.77 and a 200 day moving average price of $43.00. The stock has a market cap of $354.56 billion, a PE ratio of 14.35, a P/E/G ratio of 1.29 and a beta of 1.33. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. Bank of America Co. has a one year low of $32.35 and a one year 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. The business had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period last year, the company earned $0.70 EPS. Equities research analysts expect that Bank of America Co. will post 3.69 EPS for the current fiscal year.

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be issued a $0.26 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.04 annualized dividend and a yield of 2.25%. Bank of America’s payout ratio is 32.30%.

About Bank of America

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.