Brandywine Oak Private Wealth LLC Has $567,000 Stake in Bank of America Co. (NYSE:BAC)

Brandywine Oak Private Wealth LLC boosted its stake in Bank of America Co. (NYSE:BAC) by 30.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 12,898 shares of the financial services provider’s stock after buying an additional 2,981 shares during the quarter. Brandywine Oak Private Wealth LLC’s holdings in Bank of America were worth $567,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in Bank of America by 1.2% during the third quarter. Geode Capital Management LLC now owns 140,255,970 shares of the financial services provider’s stock worth $5,546,871,000 after purchasing an additional 1,700,141 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Bank of America by 4.0% during the third quarter. Fisher Asset Management LLC now owns 45,215,832 shares of the financial services provider’s stock valued at $1,794,164,000 after purchasing an additional 1,731,003 shares during the period. Sanders Capital LLC raised its stake in shares of Bank of America by 2.8% in the third quarter. Sanders Capital LLC now owns 22,341,213 shares of the financial services provider’s stock valued at $886,499,000 after buying an additional 601,211 shares during the period. Diamond Hill Capital Management Inc. increased its holdings in Bank of America by 0.4% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 17,042,952 shares of the financial services provider’s stock worth $676,264,000 after acquiring an additional 59,853 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Bank of America by 3.8% in the 3rd quarter. Principal Financial Group Inc. now owns 15,415,630 shares of the financial services provider’s stock worth $611,692,000 after buying an additional 569,385 shares during the period. 70.71% of the stock is owned by hedge funds and other institutional investors.

Bank of America Stock Up 0.8 %

NYSE:BAC opened at $47.11 on Thursday. The company’s fifty day moving average price is $45.79 and its 200-day moving average price is $42.82. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market capitalization of $361.45 billion, a P/E ratio of 14.63, a PEG ratio of 1.26 and a beta of 1.33. Bank of America Co. has a 1-year low of $32.35 and a 1-year high of $48.08.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share 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 period in the prior year, the business posted $0.70 earnings per share. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. As a group, equities research analysts anticipate that Bank of America Co. will post 3.67 EPS for the current year.

Bank of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.04 annualized dividend and a dividend yield of 2.21%. Bank of America’s payout ratio is 32.30%.

Analyst Ratings Changes

Several brokerages have commented on BAC. Evercore ISI cut their price target on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a report on Friday, January 17th. Morgan Stanley increased 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 target price on Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. UBS Group raised shares of Bank of America from a “neutral” rating to a “buy” rating and raised their price target for the stock from $43.00 to $53.00 in a report on Tuesday, January 7th. Finally, StockNews.com upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Bank of America has a consensus rating of “Moderate Buy” and a consensus price target of $48.58.

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.