Bank of America Co. (NYSE:BAC) Shares Bought by Barry Investment Advisors LLC

Barry Investment Advisors LLC boosted its holdings in shares of Bank of America Co. (NYSE:BAC) by 11.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,697 shares of the financial services provider’s stock after buying an additional 1,633 shares during the quarter. Barry Investment Advisors LLC’s holdings in Bank of America were worth $599,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Fortis Group Advisors LLC purchased a new stake in shares of Bank of America in the 3rd quarter valued at approximately $25,000. Livelsberger Financial Advisory purchased a new stake in shares of Bank of America in the 4th quarter valued at approximately $28,000. Criterion Capital Advisors LLC purchased a new stake in shares of Bank of America in the 4th quarter valued at approximately $32,000. Northwest Investment Counselors LLC purchased a new stake in shares of Bank of America in the 1st quarter valued at approximately $33,000. Finally, Mark Sheptoff Financial Planning LLC increased its position in shares of Bank of America by 431.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 1,062 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 862 shares during the last quarter. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on BAC shares. Wells Fargo & Company increased their price objective on shares of Bank of America from $40.00 to $44.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Oppenheimer lifted their price target on shares of Bank of America from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 30th. HSBC reiterated a “hold” rating and set a $39.00 price target (up from $38.00) on shares of Bank of America in a research note on Thursday, March 28th. Wolfe Research upgraded shares of Bank of America from a “peer perform” rating to an “outperform” rating and set a $42.00 price target on the stock in a research note on Friday, April 19th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Bank of America from $39.50 to $40.50 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Bank of America presently has an average rating of “Hold” and an average target price of $39.79.

Bank of America Stock Performance

NYSE BAC traded up $0.52 during trading on Friday, reaching $39.77. The company’s stock had a trading volume of 52,028,200 shares, compared to its average volume of 35,164,596. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.79 and a current ratio of 0.79. The firm has a market cap of $311.02 billion, a price-to-earnings ratio of 13.76, a P/E/G ratio of 1.52 and a beta of 1.36. Bank of America Co. has a twelve month low of $24.96 and a twelve month high of $40.34. The business’s fifty day moving average price is $38.91 and its 200-day moving average price is $36.12.

Bank of America (NYSE:BAC) last issued its earnings results on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.06. The business had revenue of $25.82 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.94 earnings per share. As a group, analysts anticipate that Bank of America Co. will post 3.22 EPS for the current fiscal year.

Bank of America Dividend Announcement

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

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.