Aprio Wealth Management LLC Has $818,000 Position in Bank of America Co. (NYSE:BAC)

Aprio Wealth Management LLC boosted its position in Bank of America Co. (NYSE:BAC) by 26.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,303 shares of the financial services provider’s stock after purchasing an additional 5,128 shares during the quarter. Aprio Wealth Management LLC’s holdings in Bank of America were worth $818,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. First PREMIER Bank lifted its position in shares of Bank of America by 7.2% during the 4th quarter. First PREMIER Bank now owns 32,535 shares of the financial services provider’s stock valued at $1,097,000 after acquiring an additional 2,178 shares during the period. Connective Portfolio Management LLC bought a new stake in shares of Bank of America during the 4th quarter worth $2,970,000. ZRC Wealth Management LLC lifted its position in shares of Bank of America by 192.3% during the 4th quarter. ZRC Wealth Management LLC now owns 1,140 shares of the financial services provider’s stock worth $38,000 after buying an additional 750 shares during the last quarter. Kingswood Wealth Advisors LLC increased its holdings in Bank of America by 228.3% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 67,511 shares of the financial services provider’s stock worth $2,273,000 after purchasing an additional 46,950 shares in the last quarter. Finally, Pacer Advisors Inc. increased its holdings in Bank of America by 3.3% in the 4th quarter. Pacer Advisors Inc. now owns 454,977 shares of the financial services provider’s stock worth $15,319,000 after purchasing an additional 14,702 shares in the last quarter. 68.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on BAC. Citigroup upped their target price on Bank of America from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. Barclays upped their target price on Bank of America from $39.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Oppenheimer decreased their price target on Bank of America from $50.00 to $46.00 and set an “outperform” rating for the company in a research note on Tuesday, March 19th. BMO Capital Markets decreased their price target on Bank of America from $37.00 to $36.00 and set a “market perform” rating for the company in a research note on Tuesday, January 16th. Finally, Morgan Stanley raised Bank of America from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $32.00 to $41.00 in a research note on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $35.65.

Insider Buying and Selling

In other news, major shareholder Of America Corp /De/ Bank bought 5,398 shares of the firm’s stock in a transaction on Wednesday, December 27th. The stock was acquired at an average cost of $10.56 per share, with a total value of $57,002.88. Following the completion of the transaction, the insider now directly owns 5,398 shares of the company’s stock, valued at approximately $57,002.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.27% of the stock is currently owned by corporate insiders.

Bank of America Stock Down 0.5 %

NYSE:BAC traded down $0.19 on Monday, hitting $36.86. The stock had a trading volume of 29,522,159 shares, compared to its average volume of 41,327,098. Bank of America Co. has a 52 week low of $24.96 and a 52 week high of $37.61. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.15. The business’s fifty day moving average is $34.17 and its 200 day moving average is $31.14. The company has a market cap of $290.85 billion, a PE ratio of 12.01, a P/E/G ratio of 1.69 and a beta of 1.38.

Bank of America (NYSE:BAC) last posted its earnings results on Friday, January 12th. The financial services provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Bank of America had a return on equity of 11.38% and a net margin of 15.42%. The company had revenue of $22 billion for the quarter, compared to analyst estimates of $23.70 billion. During the same quarter last year, the company earned $0.85 earnings per share. The company’s revenue for the quarter was down 10.2% on a year-over-year basis. On average, equities research analysts expect that Bank of America Co. will post 3.12 EPS for the current fiscal year.

Bank of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 1st will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, February 29th. This represents a $0.96 dividend on an annualized basis and a yield of 2.60%. Bank of America’s dividend payout ratio (DPR) is currently 31.27%.

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.