Enterprise Bank & Trust Co Has $708,000 Holdings in Bank of America Co. (NYSE:BAC)

Enterprise Bank & Trust Co grew its position in Bank of America Co. (NYSE:BAC) by 3.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 16,107 shares of the financial services provider’s stock after acquiring an additional 534 shares during the quarter. Enterprise Bank & Trust Co’s holdings in Bank of America were worth $708,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Harbour Capital Advisors LLC increased its position in Bank of America by 1.0% in the 4th quarter. Harbour Capital Advisors LLC now owns 75,417 shares of the financial services provider’s stock worth $3,379,000 after purchasing an additional 715 shares during the last quarter. JCIC Asset Management Inc. increased its position in Bank of America by 9.4% in the 4th quarter. JCIC Asset Management Inc. now owns 8,430 shares of the financial services provider’s stock worth $370,000 after purchasing an additional 725 shares during the last quarter. Cooper Financial Group increased its position in Bank of America by 13.8% in the 4th quarter. Cooper Financial Group now owns 44,441 shares of the financial services provider’s stock worth $1,953,000 after purchasing an additional 5,388 shares during the last quarter. Wedmont Private Capital increased its position in Bank of America by 13.2% in the 4th quarter. Wedmont Private Capital now owns 66,232 shares of the financial services provider’s stock worth $2,988,000 after purchasing an additional 7,708 shares during the last quarter. Finally, Westmount Partners LLC increased its holdings in shares of Bank of America by 10.3% during the 4th quarter. Westmount Partners LLC now owns 22,445 shares of the financial services provider’s stock valued at $986,000 after acquiring an additional 2,094 shares during the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BAC has been the topic of a number of analyst reports. Keefe, Bruyette & Woods increased their price objective on Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Barclays increased their price objective on Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Evercore ISI increased their price objective on Bank of America from $44.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Phillip Securities raised Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price objective on the stock in a report on Friday, October 18th. Finally, UBS Group raised Bank of America from a “neutral” rating to a “buy” rating and increased their price objective for the company from $43.00 to $53.00 in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bank of America currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.50.

Bank of America Price Performance

BAC traded down $0.10 during trading on Monday, hitting $45.01. The company’s stock had a trading volume of 20,325,190 shares, compared to its average volume of 31,558,240. The firm’s 50 day moving average price is $45.53 and its two-hundred day moving average price is $42.22. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.09. Bank of America Co. has a 12 month low of $31.27 and a 12 month high of $48.08. The stock has a market capitalization of $345.36 billion, a price-to-earnings ratio of 16.37, a price-to-earnings-growth ratio of 1.55 and a beta of 1.33.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.03. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. The firm had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.25 billion. During the same quarter in the previous year, the company posted $0.90 EPS. The business’s revenue for the quarter was up .4% compared to the same quarter last year. Sell-side analysts forecast that Bank of America Co. will post 3.27 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 6th were given a dividend of $0.26 per share. The ex-dividend date was Friday, December 6th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.31%. Bank of America’s payout ratio is currently 37.82%.

Insider Transactions at Bank of America

In related news, major shareholder Berkshire Hathaway Inc sold 8,694,538 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $42.55, for a total value of $369,952,591.90. Following the completion of the sale, the insider now owns 766,305,462 shares in the company, valued at approximately $32,606,297,408.10. This represents a 1.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.29% of the stock is currently owned by corporate insiders.

Bank of America Company 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.