Fiduciary Group LLC Has $4.63 Million Position in Bank of America Co. (NYSE:BAC)

Fiduciary Group LLC decreased its stake in shares of Bank of America Co. (NYSE:BAC) by 1.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 105,244 shares of the financial services provider’s stock after selling 1,588 shares during the period. Fiduciary Group LLC’s holdings in Bank of America were worth $4,625,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas grew its position in shares of Bank of America by 10.5% in the fourth quarter. Teacher Retirement System of Texas now owns 2,615,204 shares of the financial services provider’s stock valued at $114,938,000 after purchasing an additional 248,538 shares during the last quarter. First National Bank of Hutchinson acquired a new stake in shares of Bank of America in the 4th quarter valued at $576,000. Algebris UK Ltd acquired a new position in Bank of America in the fourth quarter valued at about $8,900,000. First Financial Bankshares Inc boosted its position in Bank of America by 20.3% in the fourth quarter. First Financial Bankshares Inc now owns 1,450,183 shares of the financial services provider’s stock valued at $63,736,000 after buying an additional 245,166 shares in the last quarter. Finally, Kazazian Asset Management LLC acquired a new position in shares of Bank of America in the 4th quarter worth approximately $698,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on BAC shares. Hsbc Global Res raised Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. UBS Group upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and raised their price objective for the company from $43.00 to $53.00 in a research report on Tuesday, January 7th. Morgan Stanley boosted their target price on shares of Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. Evercore ISI decreased their price target on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a research note on Friday, January 17th. Finally, Baird R W upgraded shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $48.64.

Bank of America Trading Up 1.4 %

BAC opened at $42.24 on Thursday. The firm has a market cap of $321.10 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 1.21 and a beta of 1.32. Bank of America Co. has a twelve month low of $34.15 and a twelve month high of $48.08. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. The firm’s fifty day moving average is $44.94 and its two-hundred day moving average is $43.77.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.12 billion. During the same quarter last year, the business posted $0.70 EPS. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. Equities research analysts anticipate that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be issued a dividend of $0.26 per share. The ex-dividend date is Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a yield of 2.46%. Bank of America’s payout ratio is 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.