HMV Wealth Advisors LLC Makes New Investment in Bank of America Co. (NYSE:BAC)

HMV Wealth Advisors LLC acquired a new position in shares of Bank of America Co. (NYSE:BAC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,947 shares of the financial services provider’s stock, valued at approximately $217,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Hilton Capital Management LLC boosted its stake in Bank of America by 86.3% during the fourth quarter. Hilton Capital Management LLC now owns 187,018 shares of the financial services provider’s stock worth $8,219,000 after buying an additional 86,617 shares during the last quarter. Postrock Partners LLC acquired a new position in Bank of America during the fourth quarter worth $407,000. Analyst IMS Investment Management Services Ltd. boosted its stake in Bank of America by 14.6% during the fourth quarter. Analyst IMS Investment Management Services Ltd. now owns 32,710 shares of the financial services provider’s stock worth $1,438,000 after buying an additional 4,158 shares during the last quarter. Northwest Wealth Management LLC boosted its stake in Bank of America by 29.7% during the fourth quarter. Northwest Wealth Management LLC now owns 8,260 shares of the financial services provider’s stock worth $363,000 after buying an additional 1,893 shares during the last quarter. Finally, King Wealth Management Group acquired a new position in Bank of America during the fourth quarter worth $207,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Price Performance

BAC stock opened at $40.97 on Friday. 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 firm has a market capitalization of $311.45 billion, a P/E ratio of 12.72, a P/E/G ratio of 1.21 and a beta of 1.32. The business’s 50-day moving average is $45.19 and its two-hundred day moving average is $43.71. Bank of America Co. has a 1 year low of $34.15 and a 1 year high of $48.08.

Bank of America (NYSE:BAC) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. The company had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. Bank of America’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.70 EPS. Analysts anticipate that Bank of America Co. will post 3.7 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend is Friday, March 7th. Bank of America’s dividend payout ratio is currently 32.30%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BAC shares. Morgan Stanley upped their price target on 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. Oppenheimer upped their price target on Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Robert W. Baird raised Bank of America from a “neutral” rating to an “outperform” rating and upped their price target for the company from $45.00 to $50.00 in a research note on Friday, March 7th. Wells Fargo & Company upped their price target on Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Keefe, Bruyette & Woods upped their price target on Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, Bank of America currently has an average rating of “Moderate Buy” and a consensus price target of $48.64.

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.