Sivia Capital Partners LLC Purchases Shares of 15,322 Bank of America Co. (NYSE:BAC)

Sivia Capital Partners LLC purchased a new stake in shares of Bank of America Co. (NYSE:BAC) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 15,322 shares of the financial services provider’s stock, valued at approximately $517,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Rovin Capital UT ADV bought a new stake in shares of Bank of America during the fourth quarter valued at approximately $311,000. Spartan Planning & Wealth Management lifted its stake in shares of Bank of America by 120,828.6% during the 4th quarter. Spartan Planning & Wealth Management now owns 8,465 shares of the financial services provider’s stock worth $285,000 after buying an additional 8,458 shares during the last quarter. ICA Group Wealth Management LLC lifted its stake in shares of Bank of America by 16.8% during the 4th quarter. ICA Group Wealth Management LLC now owns 19,008 shares of the financial services provider’s stock worth $640,000 after buying an additional 2,735 shares during the last quarter. SageView Advisory Group LLC raised its position in shares of Bank of America by 25.0% in the 4th quarter. SageView Advisory Group LLC now owns 51,688 shares of the financial services provider’s stock valued at $1,798,000 after buying an additional 10,341 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Bank of America by 17.1% during the 4th quarter. Fisher Asset Management LLC now owns 37,654,279 shares of the financial services provider’s stock valued at $1,267,820,000 after purchasing an additional 5,488,790 shares during the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on BAC shares. Wells Fargo & Company upped their price objective on shares of Bank of America from $40.00 to $44.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Evercore ISI raised their target price on shares of Bank of America from $37.00 to $41.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Wolfe Research upgraded shares of Bank of America from a “peer perform” rating to an “outperform” rating and set a $42.00 price target for the company in a research note on Friday, April 19th. UBS Group reissued a “neutral” rating and issued a $40.00 target price (up previously from $39.00) on shares of Bank of America in a report on Thursday, April 4th. Finally, Keefe, Bruyette & Woods raised shares of Bank of America from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $37.00 to $46.00 in a research note on Friday. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Bank of America currently has a consensus rating of “Hold” and a consensus price target of $39.79.

Bank of America Stock Up 0.1 %

NYSE BAC traded up $0.04 during trading hours on Monday, reaching $39.28. 13,154,961 shares of the company’s stock traded hands, compared to its average volume of 38,781,879. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.79 and a quick ratio of 0.79. The firm has a market cap of $307.18 billion, a PE ratio of 13.58, a PEG ratio of 1.75 and a beta of 1.36. Bank of America Co. has a 52-week low of $24.96 and a 52-week high of $40.19. The firm has a 50-day simple moving average of $38.23 and a 200 day simple moving average of $35.51.

Bank of America (NYSE:BAC) last released its earnings results on Tuesday, April 16th. The financial services provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.77 by $0.06. Bank of America had a net margin of 13.94% and a return on equity of 10.88%. The firm had revenue of $25.82 billion for the quarter, compared to the consensus estimate of $25.49 billion. During the same quarter in the previous year, the firm earned $0.94 earnings per share. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. Sell-side analysts anticipate that Bank of America Co. will post 3.21 EPS for the current fiscal year.

Bank of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date is Friday, June 7th. Bank of America’s dividend payout ratio is currently 33.22%.

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.