NBW Capital LLC Buys 23,907 Shares of Bank of America Co. (NYSE:BAC)

NBW Capital LLC raised its holdings in shares of Bank of America Co. (NYSE:BAC) by 115.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,649 shares of the financial services provider’s stock after purchasing an additional 23,907 shares during the quarter. NBW Capital LLC’s holdings in Bank of America were worth $1,503,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. Smead Capital Management Inc. lifted its position in Bank of America by 16.7% during the fourth quarter. Smead Capital Management Inc. now owns 6,963,932 shares of the financial services provider’s stock valued at $234,476,000 after purchasing an additional 994,072 shares during the last quarter. Federated Hermes Inc. lifted its position in Bank of America by 1.2% during the fourth quarter. Federated Hermes Inc. now owns 4,640,139 shares of the financial services provider’s stock valued at $156,233,000 after purchasing an additional 57,179 shares during the last quarter. HF Advisory Group LLC lifted its position in Bank of America by 33.2% during the fourth quarter. HF Advisory Group LLC now owns 12,436 shares of the financial services provider’s stock valued at $419,000 after purchasing an additional 3,100 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Bank of America by 1.8% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 345,917 shares of the financial services provider’s stock valued at $11,644,000 after acquiring an additional 5,965 shares during the period. Finally, Daiwa Securities Group Inc. raised its stake in shares of Bank of America by 5.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 773,750 shares of the financial services provider’s stock valued at $26,052,000 after acquiring an additional 37,323 shares during the period. Institutional investors own 70.71% of the company’s stock.

Bank of America Stock Performance

Shares of NYSE:BAC traded up $0.47 during trading on Thursday, hitting $35.70. 23,760,348 shares of the stock traded hands, compared to its average volume of 41,295,941. The company has a market cap of $281.70 billion, a price-to-earnings ratio of 12.37, a P/E/G ratio of 1.58 and a beta of 1.39. The company has a fifty day moving average price of $35.55 and a two-hundred day moving average price of $32.21. The company has a quick ratio of 0.80, a current ratio of 0.79 and a debt-to-equity ratio of 1.12. Bank of America Co. has a 52-week low of $24.96 and a 52-week high of $38.35.

Bank of America (NYSE:BAC) last announced its earnings results on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.06. Bank of America had a net margin of 13.94% and a return on equity of 10.88%. The company had revenue of $25.82 billion for the quarter, compared to analysts’ expectations of $25.49 billion. During the same quarter in the previous year, the company posted $0.94 EPS. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. As a group, equities analysts predict that Bank of America Co. will post 3.13 EPS for the current year.

Bank of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 1st were given a dividend of $0.24 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.96 annualized dividend and a dividend yield of 2.69%. Bank of America’s payout ratio is 33.22%.

Analyst Ratings Changes

Several research analysts recently commented on BAC shares. Keefe, Bruyette & Woods raised their price target on shares of Bank of America from $33.00 to $37.00 and gave the stock a “market perform” rating in a research note on Friday, April 5th. Wells Fargo & Company raised their target price 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 cut their target price on shares of Bank of America from $46.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday. BMO Capital Markets raised their target price on shares of Bank of America from $36.00 to $37.00 and gave the company a “market perform” rating in a research report on Thursday. Finally, HSBC reissued a “hold” rating and set a $39.00 target price (up previously from $38.00) on shares of Bank of America in a research report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $38.29.

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.