Carl P. Sherr & Co. LLC Increases Stock Holdings in Bank of America Co. (NYSE:BAC)

Carl P. Sherr & Co. LLC lifted its position in Bank of America Co. (NYSE:BAC) by 8.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 18,926 shares of the financial services provider’s stock after purchasing an additional 1,455 shares during the period. Carl P. Sherr & Co. LLC’s holdings in Bank of America were worth $637,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Schechter Investment Advisors LLC lifted its holdings in shares of Bank of America by 8.2% in the third quarter. Schechter Investment Advisors LLC now owns 55,348 shares of the financial services provider’s stock worth $1,515,000 after buying an additional 4,187 shares in the last quarter. Eastern Bank increased its position in shares of Bank of America by 354.5% in the third quarter. Eastern Bank now owns 119,713 shares of the financial services provider’s stock worth $3,278,000 after purchasing an additional 93,375 shares during the last quarter. Stonebridge Capital Advisors LLC increased its position in shares of Bank of America by 3.7% in the third quarter. Stonebridge Capital Advisors LLC now owns 65,495 shares of the financial services provider’s stock worth $1,793,000 after purchasing an additional 2,332 shares during the last quarter. Kingswood Wealth Advisors LLC increased its position in shares of Bank of America by 228.3% in the fourth 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 during the last quarter. Finally, Sarasin & Partners LLP bought a new position in shares of Bank of America in the fourth quarter worth approximately $673,000. 70.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on BAC shares. UBS Group restated a “neutral” rating and issued a $40.00 price objective (up from $39.00) on shares of Bank of America in a research report on Thursday, April 4th. HSBC restated a “hold” rating and issued a $39.00 price objective (up from $38.00) on shares of Bank of America in a research report on Thursday, March 28th. Morgan Stanley upgraded shares of Bank of America from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $32.00 to $41.00 in a research report on Tuesday, January 30th. Odeon Capital Group cut shares of Bank of America from a “buy” rating to a “hold” rating and set a $33.90 price target on the stock. in a research report on Tuesday, January 16th. Finally, Barclays increased their price target on shares of Bank of America from $39.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $38.29.

Bank of America Trading Down 3.5 %

Shares of NYSE:BAC traded down $1.27 during trading on Wednesday, reaching $34.68. 95,566,094 shares of the company traded hands, compared to its average volume of 35,278,272. The firm has a market capitalization of $273.65 billion, a price-to-earnings ratio of 11.30, a P/E/G ratio of 1.64 and a beta of 1.39. Bank of America Co. has a 52-week low of $24.96 and a 52-week high of $38.35. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.15. The business’s fifty day moving average is $35.51 and its 200-day moving average is $32.19.

Bank of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 1st were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date was Thursday, February 29th. Bank of America’s dividend payout ratio (DPR) is presently 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.