Bank of America Co. (NYSE:BAC) Shares Purchased by Carl P. Sherr & Co. LLC

Carl P. Sherr & Co. LLC increased its stake in Bank of America Co. (NYSE:BAC) by 8.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,926 shares of the financial services provider’s stock after acquiring an additional 1,455 shares during the period. Carl P. Sherr & Co. LLC’s holdings in Bank of America were worth $637,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Fort Sheridan Advisors LLC boosted its position in shares of Bank of America by 0.8% during the 4th quarter. Fort Sheridan Advisors LLC now owns 39,526 shares of the financial services provider’s stock valued at $1,309,000 after acquiring an additional 303 shares in the last quarter. Regent Peak Wealth Advisors LLC boosted its position in shares of Bank of America by 3.2% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 9,976 shares of the financial services provider’s stock valued at $336,000 after acquiring an additional 314 shares in the last quarter. Kennedy Investment Group boosted its position in shares of Bank of America by 0.6% during the 4th quarter. Kennedy Investment Group now owns 58,007 shares of the financial services provider’s stock valued at $1,953,000 after acquiring an additional 321 shares in the last quarter. Private Ocean LLC boosted its position in shares of Bank of America by 34.0% during the 4th quarter. Private Ocean LLC now owns 1,281 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 325 shares in the last quarter. Finally, Selective Wealth Management Inc. boosted its position in shares of Bank of America by 2.0% during the 4th quarter. Selective Wealth Management Inc. now owns 17,351 shares of the financial services provider’s stock valued at $586,000 after acquiring an additional 334 shares in the last quarter. 70.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BAC has been the subject of several analyst reports. BMO Capital Markets cut their price target on shares of Bank of America from $37.00 to $36.00 and set a “market perform” rating for the company in a report on Tuesday, January 16th. Morgan Stanley upgraded shares of Bank of America from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $32.00 to $41.00 in a research report on Tuesday, January 30th. Evercore ISI increased 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. 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 report on Thursday, March 28th. Finally, Citigroup upped their target price on shares of Bank of America from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Bank of America presently has an average rating of “Hold” and an average target price of $38.29.

Bank of America Stock Down 3.5 %

BAC traded down $1.27 during trading hours on Wednesday, hitting $34.68. 95,566,094 shares of the company’s stock were exchanged, compared to its average volume of 35,278,272. Bank of America Co. has a 1-year low of $24.96 and a 1-year high of $38.35. The stock’s 50-day moving average is $35.51 and its two-hundred day moving average is $32.19. The stock has a market cap of $273.65 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 1.64 and a beta of 1.39. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.15.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 1st were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.77%. The ex-dividend date was Thursday, February 29th. Bank of America’s payout ratio is 31.27%.

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.