Hunter Associates Investment Management LLC Invests $220,000 in Bank of America Co. (NYSE:BAC)

Hunter Associates Investment Management LLC acquired a new position in Bank of America Co. (NYSE:BAC) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 6,538 shares of the financial services provider’s stock, valued at approximately $220,000.

Several other large investors have also recently made changes to their positions in BAC. Fortis Group Advisors LLC purchased a new stake in Bank of America during the 3rd quarter worth approximately $25,000. Castleview Partners LLC purchased a new stake in Bank of America during the 1st quarter worth approximately $28,000. Glass Jacobson Investment Advisors llc increased its stake in Bank of America by 98.1% during the 3rd quarter. Glass Jacobson Investment Advisors llc now owns 1,018 shares of the financial services provider’s stock worth $28,000 after buying an additional 504 shares during the period. ZRC Wealth Management LLC increased its stake in Bank of America by 192.3% during the 4th quarter. ZRC Wealth Management LLC now owns 1,140 shares of the financial services provider’s stock worth $38,000 after buying an additional 750 shares during the period. Finally, Live Oak Investment Partners purchased a new stake in Bank of America during the 4th quarter worth approximately $39,000. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Barclays upped their target price on shares of Bank of America from $39.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. BMO Capital Markets increased their price objective on shares of Bank of America from $36.00 to $37.00 and gave the company a “market perform” rating in a research report on Thursday. HSBC reissued a “hold” rating and issued a $39.00 price objective (up from $38.00) on shares of Bank of America in a research report on Thursday, March 28th. Jefferies Financial Group increased their price objective on shares of Bank of America from $36.00 to $39.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Finally, Morgan Stanley raised shares of Bank of America from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $32.00 to $41.00 in a research report on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Bank of America currently has an average rating of “Hold” and an average price target of $38.53.

Bank of America Stock Performance

NYSE:BAC traded up $1.20 during trading hours on Friday, reaching $36.97. 56,273,683 shares of the company’s stock were exchanged, compared to its average volume of 39,086,852. The firm has a market capitalization of $291.72 billion, a price-to-earnings ratio of 12.79, a P/E/G ratio of 1.61 and a beta of 1.39. The company has a 50-day moving average of $35.68 and a 200 day moving average of $32.31. The company has a quick ratio of 0.80, a current ratio of 0.79 and a debt-to-equity ratio of 1.12. Bank of America Co. has a 1-year low of $24.96 and a 1-year high of $38.35.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.06. The firm had revenue of $25.82 billion during the quarter, compared to analysts’ expectations of $25.49 billion. Bank of America had a net margin of 13.94% and a return on equity of 10.88%. Bank of America’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.94 EPS. Research analysts anticipate that Bank of America Co. will post 3.17 EPS for the current year.

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 1st were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend was Thursday, February 29th. Bank of America’s dividend payout ratio (DPR) is presently 33.22%.

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.