Lion Street Advisors LLC Buys 1,012 Shares of Bank of America Co. (NYSE:BAC)

Lion Street Advisors LLC increased its stake in shares of Bank of America Co. (NYSE:BAC) by 6.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,078 shares of the financial services provider’s stock after acquiring an additional 1,012 shares during the period. Lion Street Advisors LLC’s holdings in Bank of America were worth $751,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Country Club Bank increased its stake in shares of Bank of America by 3.7% during the 4th quarter. Country Club Bank now owns 70,102 shares of the financial services provider’s stock worth $3,078,000 after purchasing an additional 2,471 shares during the last quarter. Lockheed Martin Investment Management Co. grew its holdings in Bank of America by 25.6% during the fourth quarter. Lockheed Martin Investment Management Co. now owns 988,850 shares of the financial services provider’s stock worth $43,460,000 after purchasing an additional 201,750 shares during the period. Sargent Investment Group LLC increased its position in Bank of America by 37.0% during the fourth quarter. Sargent Investment Group LLC now owns 81,628 shares of the financial services provider’s stock worth $3,678,000 after buying an additional 22,027 shares during the last quarter. Cassia Capital Partners LLC acquired a new stake in shares of Bank of America in the fourth quarter valued at approximately $663,000. Finally, 1858 Wealth Management LLC bought a new position in shares of Bank of America during the 4th quarter worth approximately $206,000. 70.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Citigroup upgraded Bank of America from a “neutral” rating to a “buy” rating and increased their target price for the stock from $46.00 to $54.00 in a research note on Friday, November 8th. Oppenheimer lifted their target price on Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. HSBC upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Tuesday, January 7th. Phillip Securities raised shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price objective for the company in a report on Friday, October 18th. Finally, Barclays raised their target price on shares of Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $48.58.

Bank of America Trading Up 1.1 %

Bank of America stock opened at $46.73 on Wednesday. Bank of America Co. has a one year low of $32.35 and a one year high of $48.08. The business’s fifty day moving average is $45.79 and its 200 day moving average is $42.82. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a market capitalization of $358.57 billion, a PE ratio of 14.51, a price-to-earnings-growth ratio of 1.26 and a beta of 1.33.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The company had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.12 billion. During the same quarter in the prior year, the business earned $0.70 earnings per share. Bank of America’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, sell-side analysts predict that Bank of America Co. will post 3.67 EPS for the current year.

Bank of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a yield of 2.23%. Bank of America’s dividend payout ratio is currently 32.30%.

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.