Tlwm Acquires 1,315 Shares of Bank of America Co. (NYSE:BAC)

Tlwm raised its stake in shares of Bank of America Co. (NYSE:BAC) by 3.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 36,078 shares of the financial services provider’s stock after purchasing an additional 1,315 shares during the period. Bank of America makes up approximately 0.3% of Tlwm’s portfolio, making the stock its 27th biggest holding. Tlwm’s holdings in Bank of America were worth $1,586,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Fairway Wealth LLC bought a new position in Bank of America in the 2nd quarter valued at $27,000. Kennebec Savings Bank bought a new stake in shares of Bank of America during the 3rd quarter worth $29,000. Highline Wealth Partners LLC boosted its holdings in shares of Bank of America by 152.7% in the 4th 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 last quarter. Christopher J. Hasenberg Inc grew its position in Bank of America by 525.9% during the third quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock valued at $40,000 after buying an additional 852 shares during the period. Finally, Northwest Investment Counselors LLC purchased a new stake in Bank of America during the third quarter worth about $45,000. 70.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BAC has been the subject of a number of research reports. Wells Fargo & Company increased their target price on shares of Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. StockNews.com raised Bank of America from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Phillip Securities upgraded Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 target price on the stock in a research note on Friday, October 18th. UBS Group upgraded Bank of America from a “neutral” rating to a “buy” rating and increased their price target for the stock from $43.00 to $53.00 in a research note on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods boosted their price objective on Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Bank of America currently has an average rating of “Moderate Buy” and a consensus target price of $47.50.

Bank of America Trading Down 0.0 %

Shares of Bank of America stock opened at $45.09 on Tuesday. The firm has a market cap of $345.97 billion, a PE ratio of 16.40, a PEG ratio of 1.55 and a beta of 1.33. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.80 and a quick ratio of 0.80. Bank of America Co. has a 1 year low of $31.27 and a 1 year high of $48.08. The company has a 50 day simple moving average of $45.61 and a two-hundred day simple moving average of $42.27.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.03. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. The company had revenue of $25.30 billion for the quarter, compared to analysts’ expectations of $25.25 billion. During the same period last year, the firm posted $0.90 EPS. Bank of America’s revenue for the quarter was up .4% compared to the same quarter last year. Analysts expect that Bank of America Co. will post 3.27 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 6th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend was Friday, December 6th. Bank of America’s dividend payout ratio is currently 37.82%.

Bank of America 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.