Strategic Blueprint LLC Has $1.09 Million Position in Bank of America Co. (NYSE:BAC)

Strategic Blueprint LLC grew its holdings in Bank of America Co. (NYSE:BAC) by 5.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,830 shares of the financial services provider’s stock after buying an additional 1,293 shares during the quarter. Strategic Blueprint LLC’s holdings in Bank of America were worth $1,091,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BAC. Kennebec Savings Bank bought a new stake in shares of Bank of America in the 3rd quarter valued at approximately $29,000. Highline Wealth Partners LLC grew its position in Bank of America by 152.7% in the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 510 shares during the period. Christopher J. Hasenberg Inc raised its stake in Bank of America by 525.9% during the third quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 852 shares in the last quarter. Retirement Wealth Solutions LLC bought a new position in shares of Bank of America during the fourth quarter valued at $42,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Bank of America in the 3rd quarter valued at $45,000. 70.71% of the stock is owned by institutional investors.

Bank of America Price Performance

Bank of America stock opened at $46.68 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $358.19 billion, a P/E ratio of 14.50, a PEG ratio of 1.24 and a beta of 1.33. The business has a 50-day moving average of $45.85 and a 200-day moving average of $42.73. Bank of America Co. has a 1 year low of $32.35 and a 1 year high of $48.08.

Bank of America (NYSE:BAC) last issued its earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.77 by $0.05. The firm had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The business’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.70 earnings per share. On average, equities analysts anticipate that Bank of America Co. will post 3.67 EPS for the current year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a yield of 2.23%. Bank of America’s payout ratio is 32.30%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on BAC shares. HSBC raised shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Tuesday, January 7th. Evercore ISI reduced their target price on Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a report on Friday, January 17th. Hsbc Global Res raised Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods boosted their price objective on Bank of America from $50.00 to $57.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $46.00 target price on shares of Bank of America in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $48.58.

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.