Fielder Capital Group LLC Invests $203,000 in Bank of America Co. (NYSE:BAC)

Fielder Capital Group LLC acquired a new stake in shares of Bank of America Co. (NYSE:BAC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,036 shares of the financial services provider’s stock, valued at approximately $203,000.

A number of other hedge funds have also recently bought and sold shares of the company. Northern Trust Corp grew its position in shares of Bank of America by 2.1% in the third quarter. Northern Trust Corp now owns 67,648,727 shares of the financial services provider’s stock valued at $1,852,222,000 after purchasing an additional 1,397,469 shares during the period. Barclays PLC lifted its holdings 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 acquiring an additional 20,362,295 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Bank of America by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 40,518,019 shares of the financial services provider’s stock valued at $1,109,383,000 after purchasing an additional 746,756 shares during the period. Fisher Asset Management LLC increased its position in Bank of America by 17.1% during the fourth quarter. Fisher Asset Management LLC now owns 37,649,708 shares of the financial services provider’s stock worth $1,267,666,000 after purchasing an additional 5,484,219 shares during the last quarter. Finally, California Public Employees Retirement System grew its stake in shares of Bank of America by 5.9% during the 4th quarter. California Public Employees Retirement System now owns 22,538,500 shares of the financial services provider’s stock valued at $758,871,000 after buying an additional 1,250,096 shares during the period. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Stock Up 1.2 %

BAC stock traded up $0.44 during mid-day trading on Monday, hitting $37.69. 28,403,702 shares of the company were exchanged, compared to its average volume of 40,729,758. The company has a market capitalization of $294.75 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 1.66 and a beta of 1.37. The firm has a fifty day simple moving average of $36.54 and a 200 day simple moving average of $33.23. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.12. Bank of America Co. has a twelve month low of $24.96 and a twelve month high of $38.49.

Bank of America (NYSE:BAC) last posted its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.06. Bank of America had a return on equity of 10.88% and a net margin of 13.94%. The business had revenue of $25.82 billion during the quarter, compared to the consensus estimate of $25.49 billion. During the same period last year, the firm earned $0.94 earnings per share. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. On average, research analysts forecast that Bank of America Co. will post 3.21 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.55%. The ex-dividend date is Friday, June 7th. Bank of America’s dividend payout ratio (DPR) is presently 33.22%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wolfe Research upgraded Bank of America from a “peer perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a report on Friday, April 19th. JPMorgan Chase & Co. raised their price target on shares of Bank of America from $39.50 to $40.50 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Odeon Capital Group downgraded shares of Bank of America from a “buy” rating to a “hold” rating and set a $33.90 price objective for the company. in a research note on Tuesday, January 16th. HSBC reissued a “hold” rating and issued a $39.00 target price (up previously from $38.00) on shares of Bank of America in a research note on Thursday, March 28th. Finally, Jefferies Financial Group upped 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 investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $38.70.

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.