HF Advisory Group LLC Has $419,000 Position in Bank of America Co. (NYSE:BAC)

HF Advisory Group LLC boosted its position in shares of Bank of America Co. (NYSE:BAC) by 33.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,436 shares of the financial services provider’s stock after purchasing an additional 3,100 shares during the quarter. HF Advisory Group LLC’s holdings in Bank of America were worth $419,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Moneta Group Investment Advisors LLC boosted its holdings in shares of Bank of America by 108,111.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 193,168,025 shares of the financial services provider’s stock valued at $6,397,725,000 after buying an additional 192,989,515 shares during the period. Norges Bank acquired a new stake in shares of Bank of America during the 4th quarter worth about $3,436,543,000. Northern Trust Corp lifted its stake in shares of Bank of America by 2.1% during the 3rd quarter. Northern Trust Corp now owns 67,648,727 shares of the financial services provider’s stock worth $1,852,222,000 after buying an additional 1,397,469 shares during the last quarter. Barclays PLC lifted its stake in shares of Bank of America by 97.3% during the 3rd quarter. Barclays PLC now owns 41,290,694 shares of the financial services provider’s stock worth $1,130,538,000 after buying an additional 20,362,295 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Bank of America by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 40,518,019 shares of the financial services provider’s stock worth $1,109,383,000 after buying an additional 746,756 shares during the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Trading Up 1.5 %

BAC opened at $35.77 on Friday. The company’s 50 day moving average is $35.61 and its 200-day moving average is $32.24. Bank of America Co. has a 1-year low of $24.96 and a 1-year high of $38.35. The company has a current ratio of 0.79, a quick ratio of 0.80 and a debt-to-equity ratio of 1.12. The company has a market cap of $282.25 billion, a P/E ratio of 12.38, a PEG ratio of 1.59 and a beta of 1.39.

Bank of America (NYSE:BAC) last posted its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share 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 company had revenue of $25.82 billion for the quarter, compared to the consensus estimate of $25.49 billion. During the same period last year, the company posted $0.94 EPS. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. Equities research analysts predict that Bank of America Co. will post 3.16 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 1st were given a dividend of $0.24 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.96 annualized dividend and a yield of 2.68%. Bank of America’s dividend payout ratio is presently 33.22%.

Wall Street Analyst Weigh In

BAC has been the subject of a number of research reports. HSBC restated a “hold” rating and set a $39.00 target price (up previously from $38.00) on shares of Bank of America in a research note on Thursday, March 28th. Barclays raised their target price on shares of Bank of America from $39.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Evercore ISI raised their price target 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. Erste Group Bank raised shares of Bank of America from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Finally, Jefferies Financial Group raised their price target on shares of Bank of America from $36.00 to $39.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $38.53.

About Bank of America

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.