Bank of America Co. (NYSE:BAC) Shares Acquired by A.P. Gilfoyle & Co. L.P.

A.P. Gilfoyle & Co. L.P. boosted its holdings in Bank of America Co. (NYSE:BAC) by 388.9% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 2,200 shares of the financial services provider’s stock after buying an additional 1,750 shares during the quarter. Bank of America accounts for 4.4% of A.P. Gilfoyle & Co. L.P.’s holdings, making the stock its 6th largest position. A.P. Gilfoyle & Co. L.P.’s holdings in Bank of America were worth $83,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Rossmore Private Capital increased its holdings in shares of Bank of America by 1.2% in the fourth quarter. Rossmore Private Capital now owns 26,537 shares of the financial services provider’s stock worth $894,000 after acquiring an additional 303 shares in the last quarter. Regent Peak Wealth Advisors LLC raised its holdings in Bank of America by 3.2% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 9,976 shares of the financial services provider’s stock worth $336,000 after buying an additional 314 shares during the period. Kennedy Investment Group lifted its stake in Bank of America by 0.6% in the fourth quarter. Kennedy Investment Group now owns 58,007 shares of the financial services provider’s stock valued at $1,953,000 after buying an additional 321 shares in the last quarter. Private Ocean LLC boosted its holdings in shares of Bank of America by 34.0% in the fourth quarter. Private Ocean LLC now owns 1,281 shares of the financial services provider’s stock valued at $43,000 after buying an additional 325 shares during the period. Finally, Selective Wealth Management Inc. increased its position in shares of Bank of America by 2.0% during the fourth quarter. Selective Wealth Management Inc. now owns 17,351 shares of the financial services provider’s stock worth $586,000 after acquiring an additional 334 shares in the last quarter. Institutional investors own 70.71% of the company’s stock.

Bank of America Price Performance

NYSE BAC traded up $0.32 on Tuesday, hitting $39.83. 6,952,552 shares of the company’s stock were exchanged, compared to its average volume of 38,620,777. Bank of America Co. has a 52 week low of $24.96 and a 52 week high of $40.19. The stock has a 50-day moving average of $38.27 and a 200-day moving average of $35.57. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.12. The stock has a market cap of $311.49 billion, a price-to-earnings ratio of 13.78, a P/E/G ratio of 1.75 and a beta of 1.36.

Bank of America (NYSE:BACGet Free Report) last posted its earnings results on Tuesday, April 16th. The financial services provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.06. The firm had revenue of $25.82 billion during the quarter, compared to analysts’ expectations of $25.49 billion. Bank of America had a net margin of 13.94% and a return on equity of 10.88%. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.94 earnings per share. Analysts expect that Bank of America Co. will post 3.21 earnings per share for the current year.

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a $0.24 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.96 annualized dividend and a yield of 2.41%. Bank of America’s dividend payout ratio is presently 33.22%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. BMO Capital Markets upped their target price on shares of Bank of America from $36.00 to $37.00 and gave the stock a “market perform” rating in a research note on Thursday, April 18th. Citigroup upped their price target on shares of Bank of America from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Keefe, Bruyette & Woods raised shares of Bank of America from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $37.00 to $46.00 in a research report on Friday. Wells Fargo & Company upped their target price on shares of Bank of America from $40.00 to $44.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Finally, JPMorgan Chase & Co. lifted their price target on Bank of America from $39.50 to $40.50 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $39.79.

View Our Latest Report on Bank of America

Bank of America Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding BAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of America Co. (NYSE:BACFree Report).

Institutional Ownership by Quarter for Bank of America (NYSE:BAC)

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