Wynn Capital LLC Invests $1.39 Million in Bank of America Co. (NYSE:BAC)

Wynn Capital LLC purchased a new position in Bank of America Co. (NYSE:BAC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 41,210 shares of the financial services provider’s stock, valued at approximately $1,388,000. Bank of America makes up about 1.1% of Wynn Capital LLC’s holdings, making the stock its 27th largest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of BAC. Madison Park Capital Advisors LLC acquired a new stake in Bank of America during the fourth quarter worth about $250,000. Fountainhead AM LLC acquired a new stake in Bank of America during the fourth quarter worth about $217,000. F M Investments LLC acquired a new stake in Bank of America during the fourth quarter worth about $240,000. GAMMA Investing LLC acquired a new stake in Bank of America during the fourth quarter worth about $1,829,000. Finally, Pacific Wealth Strategies Group Inc. increased its position in Bank of America by 2.0% during the fourth quarter. Pacific Wealth Strategies Group Inc. now owns 21,287 shares of the financial services provider’s stock worth $717,000 after purchasing an additional 417 shares during the last quarter. 70.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company boosted their price target on shares of Bank of America from $40.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. UBS Group restated a “neutral” rating and set a $40.00 price target (up from $39.00) on shares of Bank of America in a research report on Thursday, April 4th. Barclays increased their target price on Bank of America from $39.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Odeon Capital Group cut Bank of America from a “buy” rating to a “hold” rating and set a $33.90 target price for the company. in a report on Tuesday, January 16th. Finally, Keefe, Bruyette & Woods raised their target price on Bank of America from $33.00 to $37.00 and gave the company a “market perform” rating in a report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Bank of America has a consensus rating of “Hold” and an average target price of $38.53.

Bank of America Stock Down 0.1 %

Shares of BAC traded down $0.05 during midday trading on Wednesday, hitting $38.32. The company had a trading volume of 28,655,567 shares, compared to its average volume of 41,609,586. The company’s 50-day simple moving average is $35.88 and its 200-day simple 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. The firm has a market capitalization of $302.37 billion, a P/E ratio of 13.26, a P/E/G ratio of 1.70 and a beta of 1.39. Bank of America Co. has a 1 year low of $24.96 and a 1 year high of $38.49.

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

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 1st were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.51%. The ex-dividend date was Thursday, February 29th. Bank of America’s dividend payout ratio (DPR) is presently 33.22%.

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.