Buffington Mohr McNeal boosted its holdings in Bank of America Corp (NYSE:BAC) by 45.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,425 shares of the financial services provider’s stock after buying an additional 8,600 shares during the period. Buffington Mohr McNeal’s holdings in Bank of America were worth $676,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund boosted its holdings in Bank of America by 2,345.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 57,933,075 shares of the financial services provider’s stock valued at $2,351,000 after purchasing an additional 55,563,977 shares during the period. PGGM Investments bought a new position in Bank of America in the 4th quarter valued at $128,471,000. Matthew Goff Investment Advisor LLC boosted its holdings in Bank of America by 2,719.0% in the 3rd quarter. Matthew Goff Investment Advisor LLC now owns 5,310,836 shares of the financial services provider’s stock valued at $188,394,000 after purchasing an additional 5,122,442 shares during the period. SG Americas Securities LLC boosted its holdings in Bank of America by 183.4% in the 3rd quarter. SG Americas Securities LLC now owns 1,872,374 shares of the financial services provider’s stock valued at $55,160,000 after purchasing an additional 4,117,908 shares during the period. Finally, CI Investments Inc. boosted its holdings in Bank of America by 168.5% in the 3rd quarter. CI Investments Inc. now owns 5,840,497 shares of the financial services provider’s stock valued at $172,061,000 after purchasing an additional 3,665,300 shares during the period. Institutional investors and hedge funds own 64.22% of the company’s stock.

NYSE BAC opened at $29.46 on Friday. Bank of America Corp has a 52-week low of $22.66 and a 52-week high of $32.57. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.94. The firm has a market cap of $300.04 billion, a PE ratio of 11.29, a P/E/G ratio of 1.27 and a beta of 1.49.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Wednesday, January 16th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Bank of America had a net margin of 25.45% and a return on equity of 11.66%. The company had revenue of $22.89 billion during the quarter, compared to the consensus estimate of $22.37 billion. During the same period in the previous year, the firm posted $0.48 EPS. The firm’s revenue was up 10.7% compared to the same quarter last year. On average, equities analysts expect that Bank of America Corp will post 2.84 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 1st will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Thursday, February 28th. Bank of America’s dividend payout ratio is currently 22.99%.

BAC has been the subject of several analyst reports. ValuEngine downgraded shares of Bank of America from a “hold” rating to a “sell” rating in a report on Friday, March 1st. Wells Fargo & Co set a $36.00 price target on shares of Bank of America and gave the company a “buy” rating in a report on Wednesday, January 16th. Credit Suisse Group cut their price target on shares of Bank of America from $36.00 to $35.00 and set an “outperform” rating for the company in a report on Friday, December 7th. Daiwa Capital Markets downgraded shares of Bank of America from an “outperform” rating to a “market perform” rating in a report on Friday, February 8th. Finally, Edward Jones raised shares of Bank of America from a “hold” rating to a “buy” rating in a report on Wednesday, January 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. Bank of America currently has a consensus rating of “Hold” and an average target price of $33.18.

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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 through four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.

Further Reading: Return on Equity (ROE)

Institutional Ownership by Quarter for Bank of America (NYSE:BAC)

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