Caprock Group LLC Increases Stock Position in Bank of America Co. (NYSE:BAC)

Caprock Group LLC lifted its stake in Bank of America Co. (NYSE:BAC - Free Report) by 5.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 199,692 shares of the financial services provider's stock after purchasing an additional 10,828 shares during the quarter. Caprock Group LLC's holdings in Bank of America were worth $8,776,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Kennebec Savings Bank purchased a new stake in shares of Bank of America during the third quarter valued at approximately $29,000. Highline Wealth Partners LLC increased its holdings 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 worth $37,000 after purchasing an additional 510 shares in the last quarter. Christopher J. Hasenberg Inc raised its stake in shares of Bank of America by 525.9% in the third quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider's stock worth $40,000 after purchasing an additional 852 shares during the last quarter. Retirement Wealth Solutions LLC bought a new position in shares of Bank of America during the fourth quarter valued at $42,000. Finally, Northwest Investment Counselors LLC bought a new stake in Bank of America in the 3rd quarter worth about $45,000. 70.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on BAC shares. Keefe, Bruyette & Woods lifted their price target on shares of Bank of America from $50.00 to $57.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 3rd. UBS Group raised Bank of America from a "neutral" rating to a "buy" rating and increased their price target for the company from $43.00 to $53.00 in a report on Tuesday, January 7th. Barclays upped their price objective on Bank of America from $53.00 to $58.00 and gave the company an "overweight" rating in a research report on Monday, January 6th. Phillip Securities raised Bank of America from a "neutral" rating to an "accumulate" rating and set a $44.00 target price on the stock in a research report on Friday, October 18th. Finally, Evercore ISI reduced their price target on shares of Bank of America from $53.00 to $51.00 and set an "outperform" rating for the company in a research report on Friday, January 17th. One research 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, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $48.58.

Bank of America Price Performance

BAC traded down $0.47 during trading hours on Friday, hitting $46.25. The company's stock had a trading volume of 30,387,640 shares, compared to its average volume of 36,972,270. Bank of America Co. has a 12 month low of $32.35 and a 12 month high of $48.08. 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's 50-day moving average price is $45.85 and its 200-day moving average price is $42.76. The stock has a market cap of $354.84 billion, a price-to-earnings ratio of 14.36, a P/E/G ratio of 1.27 and a beta of 1.33.

Bank of America (NYSE:BAC - Get Free Report) last released its quarterly 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. The company had revenue of $25.30 billion during 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%. The firm's revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the business posted $0.70 earnings per share. Sell-side analysts expect that Bank of America Co. will post 3.67 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.04 annualized dividend and a dividend yield of 2.25%. Bank of America's dividend payout ratio (DPR) is 32.30%.

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.