MSH Capital Advisors LLC Takes $631,000 Position in Bank of America Co. (NYSE:BAC)

MSH Capital Advisors LLC purchased a new stake in Bank of America Co. (NYSE:BAC - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 14,368 shares of the financial services provider's stock, valued at approximately $631,000.

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. HSBC raised Bank of America from a "hold" rating to a "buy" rating and set a $50.00 target price for the company in a report on Tuesday, January 7th. Baird R W raised shares of Bank of America from a "hold" rating to a "strong-buy" rating in a report on Friday, March 7th. Robert W. Baird raised shares of Bank of America from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $45.00 to $50.00 in a report on Friday, March 7th. JPMorgan Chase & Co. cut their price target on Bank of America from $49.50 to $43.50 and set an "overweight" rating for the company in a research note on Thursday, April 3rd. Finally, Hsbc Global Res upgraded Bank of America from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $47.20.

Bank of America Stock Performance

Shares of NYSE:BAC traded up $0.11 during mid-day trading on Friday, reaching $37.44. The company had a trading volume of 47,052,978 shares, compared to its average volume of 39,127,145. The company's 50-day moving average price is $41.27 and its 200-day moving average price is $43.59. Bank of America Co. has a one year low of $33.07 and a one year high of $48.08. The firm has a market cap of $284.65 billion, a price-to-earnings ratio of 11.63, a PEG ratio of 1.21 and a beta of 1.24. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04.

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

Bank of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.78%. The ex-dividend date was Friday, March 7th. Bank of America's dividend payout ratio (DPR) is currently 30.95%.

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.