Silver Oak Securities Incorporated Has $1.86 Million Stake in Bank of America Co. (NYSE:BAC)

Silver Oak Securities Incorporated lifted its holdings in Bank of America Co. (NYSE:BAC) by 285.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,242 shares of the financial services provider’s stock after acquiring an additional 31,297 shares during the period. Silver Oak Securities Incorporated’s holdings in Bank of America were worth $1,855,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BAC. Lederer & Associates Investment Counsel CA increased its stake in Bank of America by 1.1% in the 4th quarter. Lederer & Associates Investment Counsel CA now owns 20,000 shares of the financial services provider’s stock worth $879,000 after acquiring an additional 217 shares during the last quarter. Marino Stram & Associates LLC grew its holdings in shares of Bank of America by 1.7% in the fourth quarter. Marino Stram & Associates LLC now owns 13,204 shares of the financial services provider’s stock valued at $580,000 after purchasing an additional 222 shares in the last quarter. Keudell Morrison Wealth Management increased its position in Bank of America by 2.8% in the fourth quarter. Keudell Morrison Wealth Management now owns 8,291 shares of the financial services provider’s stock worth $364,000 after purchasing an additional 223 shares during the last quarter. Traveka Wealth LLC raised its stake in Bank of America by 2.7% during the fourth quarter. Traveka Wealth LLC now owns 8,685 shares of the financial services provider’s stock valued at $382,000 after purchasing an additional 226 shares in the last quarter. Finally, Longfellow Investment Management Co. LLC lifted its position in Bank of America by 0.6% during the third quarter. Longfellow Investment Management Co. LLC now owns 37,393 shares of the financial services provider’s stock valued at $1,484,000 after purchasing an additional 227 shares during the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America Stock Up 0.8 %

Bank of America stock opened at $47.11 on Thursday. Bank of America Co. has a twelve month low of $32.35 and a twelve month high of $48.08. The business has a fifty day moving average of $45.78 and a two-hundred day moving average of $42.85. The firm has a market cap of $361.45 billion, a P/E ratio of 14.63, a P/E/G ratio of 1.26 and a beta of 1.33. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04.

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

Bank of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be paid a dividend of $0.26 per share. The ex-dividend date is Friday, March 7th. This represents a $1.04 annualized dividend and a dividend yield of 2.21%. Bank of America’s dividend payout ratio (DPR) is presently 32.30%.

Wall Street Analysts Forecast Growth

BAC has been the topic of several recent research reports. Hsbc Global Res upgraded shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Citigroup upgraded Bank of America from a “neutral” rating to a “buy” rating and upped their price objective for the company from $46.00 to $54.00 in a research report on Friday, November 8th. Barclays lifted their price objective on shares of Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Oppenheimer raised their target price on shares of Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Finally, Evercore ISI reduced their price objective on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $48.58.

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.