TKG Advisors LLC Has $2.31 Million Position in Bank of America Co. (NYSE:BAC)

TKG Advisors LLC boosted its stake in shares of Bank of America Co. (NYSE:BAC - Free Report) by 73.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 49,709 shares of the financial services provider's stock after purchasing an additional 21,085 shares during the period. Bank of America accounts for about 1.1% of TKG Advisors LLC's investment portfolio, making the stock its 29th biggest holding. TKG Advisors LLC's holdings in Bank of America were worth $2,312,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Two Sigma Advisers LP raised its stake in Bank of America by 31,021.6% in the 3rd quarter. Two Sigma Advisers LP now owns 10,207,900 shares of the financial services provider's stock valued at $405,049,000 after acquiring an additional 10,175,100 shares during the period. Swedbank AB boosted its position in Bank of America by 81.4% during the fourth quarter. Swedbank AB now owns 12,776,184 shares of the financial services provider's stock worth $561,513,000 after purchasing an additional 5,733,810 shares during the period. KBC Group NV raised its position in shares of Bank of America by 130.9% in the fourth quarter. KBC Group NV now owns 9,692,279 shares of the financial services provider's stock valued at $425,976,000 after purchasing an additional 5,493,817 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Bank of America by 193.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,608,305 shares of the financial services provider's stock valued at $301,898,000 after purchasing an additional 5,015,378 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in shares of Bank of America by 3,550.7% during the 3rd quarter. International Assets Investment Management LLC now owns 4,547,788 shares of the financial services provider's stock worth $1,804,560,000 after buying an additional 4,423,215 shares during the period. 70.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Keefe, Bruyette & Woods increased their price target on shares of Bank of America from $50.00 to $57.00 and gave the company an "outperform" rating in a report on Tuesday, December 3rd. Hsbc Global Res upgraded Bank of America from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 7th. UBS Group upgraded Bank of America from a "neutral" rating to a "buy" rating and boosted their price target for the company from $43.00 to $53.00 in a research note on Tuesday, January 7th. Barclays increased their price objective on Bank of America from $53.00 to $58.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. Finally, 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Bank of America has a consensus rating of "Moderate Buy" and an average target price of $48.58.

Bank of America Price Performance

Shares of BAC stock traded down $0.51 on Friday, hitting $44.80. 43,472,525 shares of the company's stock were exchanged, compared to its average volume of 35,078,777. The company has a 50 day moving average of $45.75 and a 200 day moving average of $43.32. The stock has a market cap of $343.71 billion, a P/E ratio of 13.91, a price-to-earnings-growth ratio of 1.24 and a beta of 1.33. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. Bank of America Co. has a 12 month low of $33.37 and a 12 month high of $48.08.

Bank of America (NYSE:BAC - Get Free Report) last posted its earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS 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 analysts' expectations 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 for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.70 earnings per share. On average, equities research analysts predict that Bank of America Co. will post 3.69 EPS for the current year.

Bank of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.26 per share. The ex-dividend date is Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.32%. Bank of America's payout ratio is presently 32.30%.

Bank of America Company 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.