Bedel Financial Consulting Inc. Grows Position in Bank of America Co. (NYSE:BAC)

Bedel Financial Consulting Inc. grew its stake in shares of Bank of America Co. (NYSE:BAC) by 4.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,458 shares of the financial services provider’s stock after buying an additional 600 shares during the period. Bedel Financial Consulting Inc.’s holdings in Bank of America were worth $634,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Collier Financial purchased a new stake in shares of Bank of America during the 4th quarter worth about $25,000. Kennebec Savings Bank purchased a new stake in Bank of America during the 3rd quarter worth $29,000. Highline Wealth Partners LLC boosted its position in Bank of America by 152.7% during the 4th quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 510 shares during the period. Retirement Wealth Solutions LLC acquired a new stake in shares of Bank of America in the fourth quarter valued at about $42,000. Finally, POM Investment Strategies LLC raised its holdings in shares of Bank of America by 1,306.5% during the 4th quarter. POM Investment Strategies LLC now owns 1,083 shares of the financial services provider’s stock valued at $48,000 after buying an additional 1,006 shares during the period. 70.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Morgan Stanley upped their target price on shares of Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. Barclays increased their price target on shares of Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Wells Fargo & Company raised their target price on Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Hsbc Global Res raised Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, Citigroup raised Bank of America from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $46.00 to $54.00 in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $48.58.

Bank of America Stock Performance

Shares of BAC opened at $45.51 on Tuesday. The company’s fifty day moving average is $45.81 and its 200-day moving average is $43.67. Bank of America Co. has a 12 month low of $34.15 and a 12 month high of $48.08. The firm has a market cap of $346.09 billion, a price-to-earnings ratio of 14.13, a price-to-earnings-growth ratio of 1.21 and a beta of 1.33. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The business had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.12 billion. During the same quarter in the prior year, the firm posted $0.70 EPS. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. Equities 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 given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Friday, March 7th. Bank of America’s dividend payout ratio is currently 32.30%.

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.