PFW Advisors LLC Invests $914,000 in Bank of America Co. (NYSE:BAC)

PFW Advisors LLC purchased a new stake in Bank of America Co. (NYSE:BAC) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 20,796 shares of the financial services provider’s stock, valued at approximately $914,000.

A number of other institutional investors have also modified their holdings of BAC. Two Sigma Advisers LP boosted its stake in Bank of America by 31,021.6% in the third quarter. Two Sigma Advisers LP now owns 10,207,900 shares of the financial services provider’s stock valued at $405,049,000 after acquiring an additional 10,175,100 shares during the period. 1832 Asset Management L.P. lifted its holdings in shares of Bank of America by 1,432.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 6,151,042 shares of the financial services provider’s stock worth $244,627,000 after purchasing an additional 5,749,567 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in Bank of America by 193.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,608,305 shares of the financial services provider’s stock valued at $301,898,000 after purchasing an additional 5,015,378 shares during the period. International Assets Investment Management LLC grew its stake in Bank of America by 3,550.7% during the 3rd quarter. International Assets Investment Management LLC now owns 4,547,788 shares of the financial services provider’s stock worth $1,804,560,000 after buying an additional 4,423,215 shares during the last quarter. Finally, D1 Capital Partners L.P. acquired a new stake in Bank of America in the third quarter worth $174,858,000. Institutional investors own 70.71% of the company’s stock.

Bank of America Stock Down 0.0 %

NYSE BAC opened at $45.09 on Tuesday. Bank of America Co. has a 12 month low of $31.27 and a 12 month high of $48.08. The company has a market capitalization of $345.97 billion, a P/E ratio of 16.40, a PEG ratio of 1.55 and a beta of 1.33. The company’s 50 day simple moving average is $45.61 and its 200 day simple moving average is $42.27. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.80 and a quick ratio of 0.80.

Bank of America (NYSE:BAC) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.03. The company had revenue of $25.30 billion for the quarter, compared to analysts’ expectations of $25.25 billion. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. The firm’s revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 earnings per share. Equities research analysts expect that Bank of America Co. will post 3.27 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 6th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date was Friday, December 6th. Bank of America’s dividend payout ratio (DPR) is presently 37.82%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on BAC shares. Citigroup upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and upped their price target for the stock from $46.00 to $54.00 in a research report on Friday, November 8th. StockNews.com upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Phillip Securities raised Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price target on the stock in a report on Friday, October 18th. Oppenheimer decreased their price objective on Bank of America from $57.00 to $54.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Finally, Barclays lifted their target price on Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $47.50.

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.