F M Investments LLC Purchases New Shares in Bank of America Co. (NYSE:BAC)

F M Investments LLC purchased a new stake in Bank of America Co. (NYSE:BAC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 7,119 shares of the financial services provider’s stock, valued at approximately $240,000.

Other institutional investors have also added to or reduced their stakes in the company. Schechter Investment Advisors LLC boosted its stake in Bank of America by 8.2% in the 3rd quarter. Schechter Investment Advisors LLC now owns 55,348 shares of the financial services provider’s stock valued at $1,515,000 after purchasing an additional 4,187 shares during the period. Eastern Bank lifted its position in shares of Bank of America by 354.5% during the 3rd quarter. Eastern Bank now owns 119,713 shares of the financial services provider’s stock valued at $3,278,000 after acquiring an additional 93,375 shares during the period. Stonebridge Capital Advisors LLC lifted its position in shares of Bank of America by 3.7% during the 3rd quarter. Stonebridge Capital Advisors LLC now owns 65,495 shares of the financial services provider’s stock valued at $1,793,000 after acquiring an additional 2,332 shares during the period. Kingswood Wealth Advisors LLC lifted its position in shares of Bank of America by 228.3% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 67,511 shares of the financial services provider’s stock valued at $2,273,000 after acquiring an additional 46,950 shares during the period. Finally, Sarasin & Partners LLP bought a new stake in shares of Bank of America during the 4th quarter valued at $673,000. 70.71% of the stock is currently owned by institutional investors.

Bank of America Trading Up 1.7 %

Shares of BAC stock traded up $0.64 on Tuesday, hitting $38.37. The company had a trading volume of 39,159,885 shares, compared to its average volume of 41,775,906. The firm has a market cap of $302.72 billion, a P/E ratio of 13.28, a P/E/G ratio of 1.66 and a beta of 1.39. The stock’s 50-day moving average is $35.88 and its two-hundred day moving average is $32.57. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.79 and a current ratio of 0.79. Bank of America Co. has a twelve month low of $24.96 and a twelve month high of $38.42.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. The company had revenue of $25.82 billion during the quarter, compared to the consensus estimate of $25.49 billion. Bank of America had a return on equity of 10.88% and a net margin of 13.94%. Bank of America’s revenue was down 1.7% on a year-over-year basis. During the same period last year, the business posted $0.94 earnings per share. On average, equities research analysts anticipate that Bank of America Co. will post 3.17 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 1st were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend was Thursday, February 29th. Bank of America’s dividend payout ratio is currently 33.22%.

Analyst Upgrades and Downgrades

BAC has been the subject of a number of recent analyst reports. Citigroup upped their target price on Bank of America from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. Erste Group Bank upgraded Bank of America from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Evercore ISI upped their price objective on Bank of America from $37.00 to $41.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. BMO Capital Markets upped their price objective on Bank of America from $36.00 to $37.00 and gave the stock a “market perform” rating in a research report on Thursday, April 18th. Finally, Barclays upped their price objective on Bank of America from $39.00 to $43.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $38.53.

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.