Proficio Capital Partners LLC Boosts Stock Holdings in Bank of America Co. (NYSE:BAC)

Proficio Capital Partners LLC boosted its position in shares of Bank of America Co. (NYSE:BAC) by 65.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,252 shares of the financial services provider’s stock after buying an additional 7,999 shares during the period. Proficio Capital Partners LLC’s holdings in Bank of America were worth $890,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Lederer & Associates Investment Counsel CA boosted its holdings in shares of Bank of America by 1.1% during the 4th quarter. Lederer & Associates Investment Counsel CA now owns 20,000 shares of the financial services provider’s stock worth $879,000 after purchasing an additional 217 shares during the last quarter. Prossimo Advisors LLC boosted its holdings in shares of Bank of America by 2.5% during the 4th quarter. Prossimo Advisors LLC now owns 8,880 shares of the financial services provider’s stock worth $390,000 after purchasing an additional 220 shares during the last quarter. Marino Stram & Associates LLC boosted its holdings in shares of Bank of America by 1.7% during the 4th quarter. Marino Stram & Associates LLC now owns 13,204 shares of the financial services provider’s stock worth $580,000 after purchasing an additional 222 shares during the last quarter. Keudell Morrison Wealth Management boosted its holdings in shares of Bank of America by 2.8% during the 4th quarter. Keudell Morrison Wealth Management now owns 8,291 shares of the financial services provider’s stock worth $364,000 after purchasing an additional 223 shares during the last quarter. Finally, Traveka Wealth LLC boosted its holdings in shares of Bank of America by 2.7% during the 4th quarter. Traveka Wealth LLC now owns 8,685 shares of the financial services provider’s stock worth $382,000 after purchasing an additional 226 shares during the last quarter. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BAC has been the topic of a number of recent analyst reports. HSBC upgraded Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Tuesday, January 7th. Barclays upped their price objective on Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Oppenheimer upped their price objective on Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Hsbc Global Res upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, UBS Group upgraded Bank of America from a “neutral” rating to a “buy” rating and upped their price objective for the company from $43.00 to $53.00 in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $48.64.

Bank of America Trading Down 0.0 %

Bank of America stock opened at $42.47 on Friday. Bank of America Co. has a 12-month low of $34.15 and a 12-month high of $48.08. 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 stock has a market capitalization of $322.88 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 1.21 and a beta of 1.32. The firm has a 50 day simple moving average of $44.81 and a 200-day simple moving average of $43.77.

Bank of America (NYSE:BAC) last released 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 the consensus estimate of $25.12 billion. During the same quarter in the prior year, the firm earned $0.70 EPS. The company’s revenue was up 15.0% compared to the same quarter last year. As a group, equities research analysts expect that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be issued a dividend of $0.26 per share. The ex-dividend date is Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.45%. Bank of America’s dividend payout ratio is currently 32.30%.

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.