47,513 Shares in Bank of America Co. (NYSE:BAC) Purchased by Nebula Research & Development LLC

Nebula Research & Development LLC bought a new position in Bank of America Co. (NYSE:BAC) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 47,513 shares of the financial services provider’s stock, valued at approximately $1,600,000. Bank of America comprises 0.5% of Nebula Research & Development LLC’s portfolio, making the stock its 5th largest holding.

A number of other institutional investors and hedge funds also recently made changes to their positions in BAC. Fortis Group Advisors LLC bought a new stake in Bank of America in the 3rd quarter worth about $25,000. Criterion Capital Advisors LLC bought a new stake in Bank of America in the 4th quarter worth about $32,000. Mark Sheptoff Financial Planning LLC grew its position in Bank of America by 431.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 1,062 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 862 shares in the last quarter. ZRC Wealth Management LLC grew its position in Bank of America by 192.3% in the 4th quarter. ZRC Wealth Management LLC now owns 1,140 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 750 shares in the last quarter. Finally, Private Ocean LLC grew its position in Bank of America by 34.0% in the 4th quarter. Private Ocean LLC now owns 1,281 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 325 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Stock Down 2.3 %

Shares of NYSE BAC traded down $0.93 during trading hours on Tuesday, hitting $38.74. 17,580,365 shares of the stock were exchanged, compared to its average volume of 38,813,957. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.12. Bank of America Co. has a 12 month low of $24.96 and a 12 month high of $40.19. The company has a market cap of $302.96 billion, a PE ratio of 13.41, a PEG ratio of 1.76 and a beta of 1.36. The firm has a fifty day moving average price of $38.07 and a 200-day moving average price of $35.24.

Bank of America (NYSE:BAC) last announced its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.06. The firm had revenue of $25.82 billion for the quarter, compared to the consensus estimate of $25.49 billion. Bank of America had a net margin of 13.94% and a return on equity of 10.88%. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.94 earnings per share. On average, sell-side analysts expect that Bank of America Co. will post 3.23 EPS for the current year.

Bank of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend is Friday, June 7th. Bank of America’s payout ratio is 33.22%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BAC. Jefferies Financial Group upped their price objective on shares of Bank of America from $36.00 to $39.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. BMO Capital Markets upped their price objective on Bank of America from $36.00 to $37.00 and gave the company a “market perform” rating in a research note on Thursday, April 18th. Citigroup raised their target price on Bank of America from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Keefe, Bruyette & Woods increased their price target on Bank of America from $33.00 to $37.00 and gave the stock a “market perform” rating in a research note on Friday, April 5th. Finally, Erste Group Bank upgraded Bank of America from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $39.26.

About Bank of America

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.