EagleClaw Capital Managment LLC Increases Holdings in Bank of America Co. (NYSE:BAC)

EagleClaw Capital Managment LLC lifted its position in Bank of America Co. (NYSE:BAC) by 1.3% in the fourth quarter, Holdings Channel reports. The firm owned 52,802 shares of the financial services provider’s stock after buying an additional 700 shares during the period. EagleClaw Capital Managment LLC’s holdings in Bank of America were worth $2,321,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of BAC. Collier Financial purchased a new stake in Bank of America during the fourth quarter worth $25,000. Life Planning Partners Inc lifted its holdings in Bank of America by 3,883.2% during the fourth quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider’s stock worth $25,000 after buying an additional 545,936 shares during the period. Kennebec Savings Bank purchased a new stake in Bank of America during the third quarter worth $29,000. Highline Wealth Partners LLC lifted its holdings in Bank of America by 152.7% during the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock worth $37,000 after buying an additional 510 shares during the period. Finally, Retirement Wealth Solutions LLC purchased a new stake in Bank of America during the fourth quarter worth $42,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Price Performance

NYSE BAC opened at $41.36 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. The stock’s fifty day moving average price is $45.67 and its 200 day moving average price is $43.67. Bank of America Co. has a 1 year low of $34.15 and a 1 year high of $48.08. The company has a market cap of $314.49 billion, a price-to-earnings ratio of 12.84, a PEG ratio of 1.21 and a beta of 1.33.

Bank of America (NYSE:BAC) last released its 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 period in the prior year, the firm earned $0.70 EPS. The firm’s revenue was up 15.0% on a year-over-year basis. As a group, equities research analysts forecast that Bank of America Co. will post 3.7 earnings per share for the current year.

Bank of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.51%. The ex-dividend date is Friday, March 7th. Bank of America’s payout ratio is 32.30%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BAC. Oppenheimer upped their target price on Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Hsbc Global Res upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Wells Fargo & Company upped their price target on Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. UBS Group raised Bank of America from a “neutral” rating to a “buy” rating and upped their price target for the stock from $43.00 to $53.00 in a research report on Tuesday, January 7th. Finally, Morgan Stanley upped their price target on Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $48.58.

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.