TFB Advisors LLC Buys 230 Shares of Bank of America Co. (NYSE:BAC)

TFB Advisors LLC boosted its position in Bank of America Co. (NYSE:BAC) by 3.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,342 shares of the financial services provider’s stock after purchasing an additional 230 shares during the period. TFB Advisors LLC’s holdings in Bank of America were worth $279,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Collier Financial bought a new position in shares of Bank of America during the 4th quarter worth $25,000. Kennebec Savings Bank bought a new position in Bank of America during the third quarter worth about $29,000. Highline Wealth Partners LLC boosted its position in Bank of America by 152.7% during the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 510 shares during the period. Retirement Wealth Solutions LLC purchased a new position in shares of Bank of America in the fourth quarter worth about $42,000. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Bank of America in the third quarter valued at approximately $45,000. 70.71% of the stock is owned by institutional investors.

Bank of America Price Performance

BAC opened at $46.21 on Thursday. The stock’s 50 day moving average price is $45.77 and its 200-day moving average price is $43.00. Bank of America Co. has a 52-week low of $32.35 and a 52-week high of $48.08. The stock has a market capitalization of $354.56 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 1.29 and a beta of 1.33. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The business had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.12 billion. During the same period in the previous year, the firm earned $0.70 EPS. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. On average, equities research analysts predict that Bank of America Co. will post 3.69 EPS for the current year.

Bank of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Friday, March 7th. Bank of America’s payout ratio is currently 32.30%.

Wall Street Analyst Weigh In

BAC has been the subject of several analyst reports. StockNews.com upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Oppenheimer lifted their price target on Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Citigroup upgraded Bank of America from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $46.00 to $54.00 in a research note on Friday, November 8th. HSBC upgraded Bank of America from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Tuesday, January 7th. Finally, UBS Group upgraded Bank of America from a “neutral” rating to a “buy” rating and upped their price target for the company from $43.00 to $53.00 in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.58.

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.