Guyasuta Investment Advisors Inc. Has $716,000 Stock Holdings in Bank of America Co. (NYSE:BAC)

Guyasuta Investment Advisors Inc. boosted its holdings in shares of Bank of America Co. (NYSE:BAC) by 6.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 16,299 shares of the financial services provider’s stock after acquiring an additional 940 shares during the period. Guyasuta Investment Advisors Inc.’s holdings in Bank of America were worth $716,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Hickory Asset Management Inc. purchased a new stake in shares of Bank of America in the fourth quarter valued at about $335,000. Aveo Capital Partners LLC raised its holdings in shares of Bank of America by 2.9% in the fourth quarter. Aveo Capital Partners LLC now owns 9,886 shares of the financial services provider’s stock valued at $434,000 after purchasing an additional 283 shares during the last quarter. CapWealth Advisors LLC raised its holdings in shares of Bank of America by 0.3% in the fourth quarter. CapWealth Advisors LLC now owns 708,421 shares of the financial services provider’s stock valued at $31,135,000 after purchasing an additional 2,031 shares during the last quarter. Myriad Asset Management US LP purchased a new stake in shares of Bank of America in the fourth quarter valued at about $1,544,000. Finally, WealthPLAN Partners LLC raised its holdings in shares of Bank of America by 5.5% in the fourth quarter. WealthPLAN Partners LLC now owns 9,228 shares of the financial services provider’s stock valued at $406,000 after purchasing an additional 479 shares during the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BAC. Morgan Stanley increased 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 report on Friday, January 17th. Citigroup upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and increased their price target for the company from $46.00 to $54.00 in a research report on Friday, November 8th. Keefe, Bruyette & Woods increased their price target on shares of Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Barclays increased their price target on shares of Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Finally, Hsbc Global Res upgraded shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $48.58.

Bank of America Trading Up 1.4 %

Shares of Bank of America stock opened at $46.98 on Friday. Bank of America Co. has a 12-month low of $32.49 and a 12-month high of $48.08. The company has a market cap of $360.47 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 1.29 and a beta of 1.33. 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 company’s 50-day moving average price is $45.75 and its 200-day moving average price is $43.05.

Bank of America (NYSE:BAC) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The firm had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.12 billion. During the same period in the prior year, the firm posted $0.70 earnings per share. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. On average, equities analysts expect that Bank of America Co. will post 3.69 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Friday, March 7th. Bank of America’s payout ratio is 32.30%.

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.