Bank of America Co. (NYSE:BAC) Shares Purchased by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE raised its position in Bank of America Co. (NYSE:BAC) by 9.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 174,921 shares of the financial services provider’s stock after buying an additional 14,412 shares during the period. Congress Wealth Management LLC DE’s holdings in Bank of America were worth $5,890,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Wilbanks Smith & Thomas Asset Management LLC grew its holdings in shares of Bank of America by 11.5% during the third quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 52,042 shares of the financial services provider’s stock worth $1,425,000 after buying an additional 5,359 shares in the last quarter. Sfmg LLC grew its stake in Bank of America by 12.2% during the 3rd quarter. Sfmg LLC now owns 13,866 shares of the financial services provider’s stock valued at $380,000 after acquiring an additional 1,510 shares in the last quarter. Smithfield Trust Co raised its holdings in Bank of America by 4.9% in the 3rd quarter. Smithfield Trust Co now owns 51,122 shares of the financial services provider’s stock valued at $1,400,000 after acquiring an additional 2,379 shares during the last quarter. Schechter Investment Advisors LLC lifted its stake in Bank of America by 8.2% in the 3rd quarter. Schechter Investment Advisors LLC now owns 55,348 shares of the financial services provider’s stock worth $1,515,000 after purchasing an additional 4,187 shares in the last quarter. Finally, Wealthspire Advisors LLC boosted its holdings in shares of Bank of America by 5.6% during the 3rd quarter. Wealthspire Advisors LLC now owns 109,707 shares of the financial services provider’s stock worth $3,004,000 after purchasing an additional 5,827 shares during the last quarter. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Bank of America Trading Up 1.4 %

Shares of BAC stock traded up $0.53 on Friday, hitting $39.70. The stock had a trading volume of 22,166,306 shares, compared to its average volume of 30,858,416. The company’s 50 day moving average price is $37.54 and its 200-day moving average price is $34.39. Bank of America Co. has a 1 year low of $24.96 and a 1 year high of $39.84. The firm has a market capitalization of $310.47 billion, a P/E ratio of 13.74, a P/E/G ratio of 1.76 and a beta of 1.37. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.79 and a quick ratio of 0.79.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.06. The company had revenue of $25.82 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.94 earnings per share. Analysts anticipate that Bank of America Co. will post 3.23 earnings per share for the current year.

Bank of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $0.24 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.96 dividend on an annualized basis and a yield of 2.42%. Bank of America’s dividend payout ratio (DPR) is presently 33.22%.

Analyst Ratings Changes

BAC has been the subject of several recent research reports. Oppenheimer increased their price target on Bank of America from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Tuesday, April 30th. Citigroup lifted their price target on Bank of America from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. Evercore ISI upped their price objective on shares of Bank of America from $37.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. StockNews.com downgraded shares of Bank of America from a “hold” rating to a “sell” rating in a research note on Monday, May 20th. Finally, HSBC reissued a “hold” rating and issued a $39.00 price target (up previously from $38.00) on shares of Bank of America in a research note on Thursday, March 28th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Bank of America presently has a consensus rating of “Hold” and a consensus price target of $38.70.

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.