SC&H Financial Advisors Inc. Makes New Investment in Bank of America Co. (NYSE:BAC)

SC&H Financial Advisors Inc. acquired a new stake in shares of Bank of America Co. (NYSE:BAC) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 7,578 shares of the financial services provider’s stock, valued at approximately $255,000.

Other institutional investors have also recently modified their holdings of the company. Fortis Group Advisors LLC purchased a new stake in Bank of America during the 3rd quarter valued at about $25,000. Glass Jacobson Investment Advisors llc grew its holdings in shares of Bank of America by 98.1% in the third quarter. Glass Jacobson Investment Advisors llc now owns 1,018 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 504 shares during the period. Criterion Capital Advisors LLC bought a new stake in shares of Bank of America in the fourth quarter worth $32,000. ZRC Wealth Management LLC lifted its position in Bank of America by 192.3% during the fourth quarter. ZRC Wealth Management LLC now owns 1,140 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 750 shares in the last quarter. Finally, Private Ocean LLC lifted its position in Bank of America by 34.0% during the fourth quarter. Private Ocean LLC now owns 1,281 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 325 shares in the last quarter. 70.71% of the stock is currently owned by institutional investors.

Bank of America Price Performance

Shares of Bank of America stock traded up $0.78 on Monday, hitting $37.75. 43,853,873 shares of the company were exchanged, compared to its average volume of 41,810,023. The stock has a market capitalization of $297.87 billion, a price-to-earnings ratio of 13.03, a price-to-earnings-growth ratio of 1.66 and a beta of 1.39. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.12. The company has a 50-day moving average price of $35.68 and a 200 day moving average price of $32.40. Bank of America Co. has a 1-year low of $24.96 and a 1-year high of $38.35.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.77 by $0.06. The firm had revenue of $25.82 billion for the quarter, compared to analyst estimates of $25.49 billion. Bank of America had a net margin of 13.94% and a return on equity of 10.88%. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.94 EPS. As a group, sell-side analysts predict that Bank of America Co. will post 3.17 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 1st were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend was Thursday, February 29th. Bank of America’s dividend payout ratio is currently 33.22%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Erste Group Bank raised Bank of America from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Wolfe Research upgraded Bank of America from a “peer perform” rating to an “outperform” rating and set a $42.00 price target for the company in a report on Friday. Citigroup boosted their price target on Bank of America from $37.00 to $39.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. Odeon Capital Group lowered Bank of America from a “buy” rating to a “hold” rating and set a $33.90 target price for the company. in a report on Tuesday, January 16th. Finally, UBS Group reissued a “neutral” rating and issued a $40.00 target price (up from $39.00) on shares of Bank of America in a research report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Bank of America has an average rating of “Hold” and an average price target of $38.53.

Bank of America 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.