4,768 Shares in Bank of America Co. (NYSE:BAC) Purchased by Cairn Investment Group Inc.

Cairn Investment Group Inc. acquired a new position in shares of Bank of America Co. (NYSE:BAC) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,768 shares of the financial services provider’s stock, valued at approximately $210,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Kennebec Savings Bank bought a new position in shares of Bank of America in the third quarter worth about $29,000. Highline Wealth Partners LLC lifted its holdings in shares of Bank of America by 152.7% in the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 510 shares during the last quarter. Retirement Wealth Solutions LLC bought a new position in shares of Bank of America in the fourth quarter worth about $42,000. Christopher J. Hasenberg Inc lifted its holdings in shares of Bank of America by 525.9% in the third quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 852 shares during the last quarter. Finally, Northwest Investment Counselors LLC bought a new position in shares of Bank of America in the third quarter worth about $45,000. Institutional investors own 70.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on BAC shares. Evercore ISI dropped their target price on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a report on Friday, January 17th. Keefe, Bruyette & Woods upped their price objective on Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. HSBC raised Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Tuesday, January 7th. Morgan Stanley upped their price objective on Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. Finally, Hsbc Global Res raised Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $48.58.

Bank of America Trading Down 0.2 %

Shares of Bank of America stock opened at $46.74 on Thursday. Bank of America Co. has a 1 year low of $32.35 and a 1 year high of $48.08. The firm has a market cap of $358.59 billion, a PE ratio of 14.51, a P/E/G ratio of 1.24 and a beta of 1.33. The stock has a fifty day moving average price of $45.83 and a 200-day moving average price of $42.70. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.05. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The company had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.12 billion. During the same quarter last year, the firm posted $0.70 EPS. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. Equities research analysts anticipate that Bank of America Co. will post 3.67 EPS for the current 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 issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.23%. Bank of America’s dividend payout ratio (DPR) is currently 32.30%.

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.