Winthrop Advisory Group LLC Buys 1,612 Shares of Bank of America Co. (NYSE:BAC)

Winthrop Advisory Group LLC lifted its holdings in Bank of America Co. (NYSE:BAC) by 5.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,864 shares of the financial services provider’s stock after buying an additional 1,612 shares during the quarter. Winthrop Advisory Group LLC’s holdings in Bank of America were worth $1,444,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BAC. Williams Financial LLC bought a new stake in Bank of America during the 2nd quarter valued at about $2,158,000. Vista Capital Partners Inc. grew its stake in shares of Bank of America by 3.9% in the second quarter. Vista Capital Partners Inc. now owns 8,195 shares of the financial services provider’s stock worth $326,000 after acquiring an additional 309 shares during the period. Diversify Wealth Management LLC bought a new stake in shares of Bank of America in the second quarter worth approximately $2,028,000. Element Capital Management LLC bought a new stake in shares of Bank of America in the second quarter worth approximately $11,189,000. Finally, Spectrum Wealth Counsel LLC grew its stake in shares of Bank of America by 24.4% in the second quarter. Spectrum Wealth Counsel LLC now owns 3,361 shares of the financial services provider’s stock worth $134,000 after acquiring an additional 659 shares during the period. 70.71% of the stock is owned by hedge funds and other institutional investors.

Bank of America Price Performance

BAC traded down $0.19 during trading hours on Monday, hitting $44.92. The company’s stock had a trading volume of 4,743,783 shares, compared to its average volume of 29,312,051. The business’s 50-day moving average price is $45.53 and its 200-day moving average price is $42.22. 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 cap of $344.67 billion, a price-to-earnings ratio of 16.33, a P/E/G ratio of 1.55 and a beta of 1.33. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.09.

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

Bank of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 6th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend was Friday, December 6th. Bank of America’s dividend payout ratio (DPR) is 37.82%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Oppenheimer reduced their price target on shares of Bank of America from $57.00 to $54.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Phillip Securities upgraded shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price target for the company in a research note on Friday, October 18th. StockNews.com raised shares of Bank of America from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Keefe, Bruyette & Woods raised their price objective on shares of Bank of America from $50.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Finally, Evercore ISI raised their price objective on shares of Bank of America from $44.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Bank of America has a consensus rating of “Moderate Buy” and a consensus target price of $47.50.

Insider Buying and Selling at Bank of America

In other news, major shareholder Berkshire Hathaway Inc sold 8,694,538 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $42.55, for a total value of $369,952,591.90. Following the transaction, the insider now directly 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 is accessible through the SEC website. Company insiders own 0.29% of the company’s stock.

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.