5,969 Shares in Bank of America Co. (NYSE:BAC) Bought by Leonard Rickey Investment Advisors P.L.L.C.

Leonard Rickey Investment Advisors P.L.L.C. bought a new stake in shares of Bank of America Co. (NYSE:BAC) in the 1st quarter, HoldingsChannel.com reports. The firm bought 5,969 shares of the financial services provider’s stock, valued at approximately $226,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Rossmore Private Capital grew its position in Bank of America by 1.2% during the fourth quarter. Rossmore Private Capital now owns 26,537 shares of the financial services provider’s stock worth $894,000 after buying an additional 303 shares in the last quarter. Chemistry Wealth Management LLC raised its holdings in shares of Bank of America by 0.3% during the 1st quarter. Chemistry Wealth Management LLC now owns 109,541 shares of the financial services provider’s stock worth $4,154,000 after buying an additional 310 shares in the last quarter. Regent Peak Wealth Advisors LLC lifted its position in shares of Bank of America by 3.2% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 9,976 shares of the financial services provider’s stock worth $336,000 after buying an additional 314 shares during the last quarter. Kennedy Investment Group boosted its stake in Bank of America by 0.6% in the fourth quarter. Kennedy Investment Group now owns 58,007 shares of the financial services provider’s stock valued at $1,953,000 after buying an additional 321 shares in the last quarter. Finally, Private Ocean LLC grew its position in Bank of America by 34.0% in the fourth quarter. Private Ocean LLC now owns 1,281 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 325 shares during the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Evercore ISI increased their target price on shares of Bank of America from $37.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Wells Fargo & Company boosted their target price on shares of Bank of America from $40.00 to $44.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Citigroup increased their price target on Bank of America from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. Wolfe Research upgraded Bank of America from a “peer perform” rating to an “outperform” rating and set a $42.00 price objective on the stock in a research report on Friday, April 19th. Finally, BMO Capital Markets upped their target price on Bank of America from $36.00 to $37.00 and gave the stock a “market perform” rating in a report on Thursday, April 18th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $39.79.

Bank of America Trading Up 1.4 %

Shares of NYSE:BAC traded up $0.55 during trading on Tuesday, reaching $40.56. The stock had a trading volume of 12,526,995 shares, compared to its average volume of 38,660,402. Bank of America Co. has a 52 week low of $24.96 and a 52 week high of $40.57. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.79 and a current ratio of 0.79. The firm’s fifty day moving average is $38.91 and its 200 day moving average is $36.12. The stock has a market cap of $317.19 billion, a price-to-earnings ratio of 13.99, a P/E/G ratio of 1.52 and a beta of 1.35.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $25.82 billion for the quarter, compared to analysts’ expectations of $25.49 billion. During the same quarter in the prior year, the firm posted $0.94 earnings per share. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. As a group, equities analysts forecast that Bank of America Co. will post 3.22 EPS for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.96 dividend on an annualized basis and a yield of 2.37%. Bank of America’s payout ratio is currently 33.22%.

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.