Wealth Management Nebraska Takes Position in Bank of America Co. (NYSE:BAC)

Wealth Management Nebraska acquired a new position in Bank of America Co. (NYSE:BAC) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 4,663 shares of the financial services provider’s stock, valued at approximately $205,000.

Several other hedge funds have also recently bought and sold shares of BAC. Collier Financial acquired a new stake in shares of Bank of America in the fourth quarter valued at approximately $25,000. Life Planning Partners Inc grew its holdings in Bank of America by 3,883.2% in the 4th 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 in the last quarter. Kennebec Savings Bank bought a new position in Bank of America in the 3rd quarter worth approximately $29,000. Highline Wealth Partners LLC increased its position in Bank of America by 152.7% in the 4th quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 510 shares during the period. Finally, Retirement Wealth Solutions LLC bought a new stake in Bank of America during the 4th quarter valued at $42,000. 70.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on BAC shares. Evercore ISI lowered their price target on Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a report on Friday, January 17th. UBS Group raised shares of Bank of America from a “neutral” rating to a “buy” rating and raised their target price for the company from $43.00 to $53.00 in a research note on Tuesday, January 7th. Wells Fargo & Company boosted their price target on shares of Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Morgan Stanley increased their price objective on shares of Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Friday, January 17th. Finally, Keefe, Bruyette & Woods boosted their target price on Bank of America from $50.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $48.58.

Bank of America Price Performance

BAC stock opened at $44.80 on Friday. Bank of America Co. has a one year low of $33.37 and a one year high of $48.08. The firm has a 50-day moving average of $45.75 and a two-hundred day moving average of $43.32. The firm has a market capitalization of $343.71 billion, a PE ratio of 13.91, a P/E/G ratio of 1.22 and a beta of 1.33. 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 issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.77 by $0.05. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The business had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. During the same quarter in the prior year, the firm earned $0.70 EPS. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. On average, analysts forecast that Bank of America Co. will post 3.69 earnings per share for the current year.

Bank of America Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Friday, March 7th. This represents a $1.04 annualized dividend and a dividend yield of 2.32%. Bank of America’s dividend payout ratio (DPR) is presently 32.30%.

About Bank of America

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.