Investors Asset Management of Georgia Inc. GA ADV Has $1.99 Million Holdings in Bank of America Co. (NYSE:BAC)

Investors Asset Management of Georgia Inc. GA ADV decreased its position in shares of Bank of America Co. (NYSE:BAC) by 3.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 45,364 shares of the financial services provider’s stock after selling 1,546 shares during the period. Bank of America comprises about 1.0% of Investors Asset Management of Georgia Inc. GA ADV’s investment portfolio, making the stock its 24th largest holding. Investors Asset Management of Georgia Inc. GA ADV’s holdings in Bank of America were worth $1,994,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Swedbank AB raised its position in Bank of America by 0.7% in the 3rd quarter. Swedbank AB now owns 7,042,374 shares of the financial services provider’s stock worth $279,441,000 after purchasing an additional 50,849 shares during the last quarter. Elevated Capital Advisors LLC bought a new stake in shares of Bank of America during the third quarter worth $311,000. Wallington Asset Management LLC lifted its stake in shares of Bank of America by 12.0% during the third quarter. Wallington Asset Management LLC now owns 263,408 shares of the financial services provider’s stock valued at $10,452,000 after acquiring an additional 28,160 shares during the period. McAdam LLC boosted its holdings in Bank of America by 3.5% in the third quarter. McAdam LLC now owns 11,836 shares of the financial services provider’s stock valued at $470,000 after acquiring an additional 402 shares during the last quarter. Finally, International Assets Investment Management LLC increased its position in Bank of America by 3,550.7% in the third 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 purchasing an additional 4,423,215 shares during the period. Institutional investors own 70.71% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. 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. Citigroup upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and increased their price objective for the company from $46.00 to $54.00 in a report on Friday, November 8th. Oppenheimer lifted their target price on shares of Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Morgan Stanley increased their price target on Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. Finally, Evercore ISI decreased their price objective on Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Bank of America has a consensus rating of “Moderate Buy” and a consensus price target of $48.58.

Bank of America Price Performance

BAC stock opened at $45.31 on Friday. The stock has a market cap of $347.62 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 1.24 and a beta of 1.33. The stock has a 50-day moving average price of $45.77 and a two-hundred day moving average price of $43.27. Bank of America Co. has a 1 year low of $33.17 and a 1 year high of $48.08. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04.

Bank of America (NYSE:BAC) last posted its quarterly earnings data 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 return on equity of 10.29% and a net margin of 14.10%. The business had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. During the same period last year, the company earned $0.70 earnings per share. Bank of America’s quarterly revenue was up 15.0% on a year-over-year basis. Equities analysts forecast that Bank of America Co. will post 3.69 EPS for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Friday, March 7th. Bank of America’s dividend payout ratio is presently 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.