Silver Oak Securities Incorporated Has $252,000 Holdings in Bank of America Co. (NYSE:BAC)

Silver Oak Securities Incorporated lifted its holdings in shares of Bank of America Co. (NYSE:BAC) by 12.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,486 shares of the financial services provider’s stock after purchasing an additional 826 shares during the period. Silver Oak Securities Incorporated’s holdings in Bank of America were worth $252,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of BAC. Schechter Investment Advisors LLC raised its stake in Bank of America by 8.2% during the third quarter. Schechter Investment Advisors LLC now owns 55,348 shares of the financial services provider’s stock worth $1,515,000 after buying an additional 4,187 shares during the last quarter. Stonebridge Capital Advisors LLC raised its stake in Bank of America by 3.7% during the third quarter. Stonebridge Capital Advisors LLC now owns 65,495 shares of the financial services provider’s stock worth $1,793,000 after buying an additional 2,332 shares during the last quarter. Kingswood Wealth Advisors LLC raised its stake in Bank of America by 228.3% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 67,511 shares of the financial services provider’s stock worth $2,273,000 after buying an additional 46,950 shares during the last quarter. Sarasin & Partners LLP bought a new position in Bank of America during the fourth quarter worth $673,000. Finally, Miller Howard Investments Inc. NY bought a new position in Bank of America during the fourth quarter worth $38,275,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Stock Down 0.2 %

Bank of America stock opened at $36.95 on Thursday. Bank of America Co. has a fifty-two week low of $24.96 and a fifty-two week high of $38.49. The stock has a market cap of $291.56 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 1.66 and a beta of 1.37. The firm’s 50-day simple moving average is $36.33 and its 200 day simple moving average is $32.98. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.79 and a current ratio of 0.79.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.06. Bank of America had a net margin of 13.94% and a return on equity of 10.88%. The business had revenue of $25.82 billion for the quarter, compared to analysts’ expectations of $25.49 billion. During the same period in the previous year, the company earned $0.94 earnings per share. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. Research analysts predict that Bank of America Co. will post 3.19 EPS for the current fiscal year.

Bank of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.60%. The ex-dividend date of this dividend is Friday, June 7th. Bank of America’s dividend payout ratio (DPR) is presently 33.22%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BAC. Jefferies Financial Group lifted their target price on shares of Bank of America from $36.00 to $39.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Keefe, Bruyette & Woods lifted their price target on shares of Bank of America from $33.00 to $37.00 and gave the company a “market perform” rating in a research note on Friday, April 5th. UBS Group reaffirmed a “neutral” rating and issued a $40.00 price target (up from $39.00) on shares of Bank of America in a research note on Thursday, April 4th. Wells Fargo & Company lifted their price target on shares of Bank of America from $40.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Finally, Oppenheimer lifted their price target on shares of Bank of America from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Bank of America has an average rating of “Hold” and a consensus target price of $38.70.

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.