17,796 Shares in Bank of America Co. (NYSE:BAC) Acquired by Bank of Jackson Hole Trust

Bank of Jackson Hole Trust acquired a new position in Bank of America Co. (NYSE:BAC) in the fourth quarter, Holdings Channel reports. The firm acquired 17,796 shares of the financial services provider’s stock, valued at approximately $782,000.

A number of other institutional investors also recently modified their holdings of the stock. Swedbank AB raised its holdings in shares of Bank of America by 0.7% during the 3rd quarter. Swedbank AB now owns 7,042,374 shares of the financial services provider’s stock valued at $279,441,000 after purchasing an additional 50,849 shares in the last quarter. Net Worth Advisory Group bought a new position in shares of Bank of America during the 3rd quarter worth about $232,000. Koss Olinger Consulting LLC increased its holdings in shares of Bank of America by 31.1% during the 3rd quarter. Koss Olinger Consulting LLC now owns 7,726 shares of the financial services provider’s stock worth $307,000 after purchasing an additional 1,835 shares during the period. Northwest Investment Counselors LLC acquired a new stake in shares of Bank of America during the 3rd quarter valued at about $45,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in shares of Bank of America by 36.5% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 108,617 shares of the financial services provider’s stock valued at $4,310,000 after acquiring an additional 29,022 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BAC. Morgan Stanley boosted their price target on shares of Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. Barclays boosted their price target on shares of Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Hsbc Global Res upgraded shares of Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. UBS Group upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and increased their target price for the stock from $43.00 to $53.00 in a report on Tuesday, January 7th. Finally, HSBC raised shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.58.

Bank of America Stock Performance

Shares of BAC opened at $46.46 on Wednesday. The firm has a 50-day moving average of $45.79 and a 200-day moving average of $43.23. Bank of America Co. has a one year low of $33.17 and a one year high of $48.08. The company has a market cap of $356.51 billion, a PE ratio of 14.43, a price-to-earnings-growth ratio of 1.27 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 (NYSE:BAC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The company had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.12 billion. During the same quarter last year, the company posted $0.70 EPS. Bank of America’s quarterly revenue was up 15.0% compared to the same quarter last year. As a group, equities analysts forecast that Bank of America Co. will post 3.69 earnings per share for the current year.

Bank of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Friday, March 7th. Bank of America’s dividend payout ratio (DPR) is 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.