SageView Advisory Group LLC Has $3.08 Million Stock Holdings in Bank of America Co. (NYSE:BAC)

SageView Advisory Group LLC raised its stake in Bank of America Co. (NYSE:BAC - Free Report) by 48.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 69,983 shares of the financial services provider's stock after acquiring an additional 22,986 shares during the period. SageView Advisory Group LLC's holdings in Bank of America were worth $3,076,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of BAC. Collier Financial acquired a new stake in shares of Bank of America during the 4th quarter worth about $25,000. Life Planning Partners Inc grew its position in Bank of America by 3,883.2% during the 4th quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider's stock worth $25,000 after acquiring an additional 545,936 shares during the last quarter. Graney & King LLC acquired a new stake in Bank of America during the 4th quarter valued at $25,000. Fairway Wealth LLC acquired a new position in Bank of America in the fourth quarter worth $29,000. Finally, Glass Jacobson Investment Advisors llc boosted its stake in Bank of America by 53.0% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 797 shares of the financial services provider's stock worth $35,000 after purchasing an additional 276 shares in the last quarter. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Bank of America Stock Up 3.7 %

Shares of NYSE BAC traded up $1.36 during mid-day trading on Tuesday, reaching $38.03. 84,614,170 shares of the company's stock were exchanged, compared to its average volume of 39,392,816. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. The business has a fifty day simple moving average of $41.85 and a 200 day simple moving average of $43.66. Bank of America Co. has a twelve month low of $33.07 and a twelve month high of $48.08. The firm has a market capitalization of $289.16 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 1.21 and a beta of 1.24.

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Bank of America (NYSE:BAC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.80 by $0.10. The business had revenue of $27.37 billion for the quarter, compared to analysts' expectations of $26.83 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. As a group, equities analysts expect that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 7th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date was Friday, March 7th. Bank of America's dividend payout ratio is presently 32.30%.

Wall Street Analysts Forecast Growth

BAC has been the subject of a number of research reports. Oppenheimer raised their target price 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. HSBC upgraded shares of 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. UBS Group upgraded shares of Bank of America from a "neutral" rating to a "buy" rating and upped their target price for the stock from $43.00 to $53.00 in a research report on Tuesday, January 7th. Barclays raised their price target on shares of Bank of America from $53.00 to $58.00 and gave the company an "overweight" rating in a report on Monday, January 6th. Finally, Morgan Stanley upped their price objective on Bank of America from $54.00 to $56.00 and gave the stock an "equal weight" rating in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $48.31.

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.