BSW Wealth Partners Makes New $251,000 Investment in Bank of America Co. (NYSE:BAC)

BSW Wealth Partners purchased a new stake in Bank of America Co. (NYSE:BAC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 5,707 shares of the financial services provider's stock, valued at approximately $251,000.

Other large investors also recently made changes to their positions in the company. Kennebec Savings Bank purchased a new position in Bank of America in the 3rd quarter worth about $29,000. Highline Wealth Partners LLC boosted its holdings in shares of Bank of America by 152.7% in the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider's stock worth $37,000 after buying an additional 510 shares during the period. Christopher J. Hasenberg Inc increased its position 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 acquiring an additional 852 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new stake in shares of Bank of America during the fourth quarter valued at approximately $42,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Bank of America in the 3rd quarter valued at approximately $45,000. Institutional investors own 70.71% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BAC. Citigroup raised shares of Bank of America from a "neutral" rating to a "buy" rating and boosted their target price for the company from $46.00 to $54.00 in a research note on Friday, November 8th. HSBC raised Bank of America from a "hold" rating to a "buy" rating and set a $50.00 price target on the stock in a research report on Tuesday, January 7th. Morgan Stanley raised their price objective on Bank of America from $54.00 to $56.00 and gave the stock an "equal weight" rating in a research report on Friday, January 17th. Wells Fargo & Company increased their price target on shares of Bank of America from $52.00 to $56.00 and gave the stock an "overweight" rating in a research report on Friday, November 15th. Finally, UBS Group raised shares of Bank of America from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $43.00 to $53.00 in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $48.58.

Bank of America Stock Performance

Shares of Bank of America stock traded down $0.07 on Thursday, reaching $46.68. The stock had a trading volume of 31,197,276 shares, compared to its average volume of 37,314,203. Bank of America Co. has a fifty-two week low of $32.35 and a fifty-two week high of $48.08. The business's 50-day moving average price is $45.85 and its two-hundred day moving average price is $42.73. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a market cap of $358.19 billion, a P/E ratio of 14.50, a price-to-earnings-growth ratio of 1.24 and a beta of 1.33.

Bank of America (NYSE:BAC - Get Free Report) last released its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.05. The firm had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.12 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The business's revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.70 EPS. On average, sell-side analysts forecast that Bank of America Co. will post 3.67 EPS for the current year.

Bank of America Announces Dividend

The firm 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. This represents a $1.04 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Friday, March 7th. Bank of America's dividend payout ratio (DPR) is currently 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.