Gallagher Fiduciary Advisors LLC Purchases 4,346 Shares of Bank of America Co. (NYSE:BAC)

Gallagher Fiduciary Advisors LLC boosted its holdings in Bank of America Co. (NYSE:BAC) by 58.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 11,733 shares of the financial services provider’s stock after purchasing an additional 4,346 shares during the quarter. Gallagher Fiduciary Advisors LLC’s holdings in Bank of America were worth $516,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Collier Financial purchased a new position in Bank of America in the 4th quarter worth approximately $25,000. Life Planning Partners Inc lifted its holdings in shares of Bank of America by 3,883.2% in the fourth quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider’s stock worth $25,000 after buying an additional 545,936 shares in the last quarter. Graney & King LLC bought a new position in shares of Bank of America during the fourth quarter worth $25,000. Fairway Wealth LLC purchased a new position in Bank of America during the fourth quarter valued at $29,000. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new stake in Bank of America in the 4th quarter valued at $31,000. 70.71% of the stock is owned by institutional investors.

Bank of America Trading Up 2.3 %

Shares of NYSE BAC opened at $41.08 on Friday. Bank of America Co. has a twelve month low of $33.07 and a twelve month high of $48.08. The firm has a market cap of $312.32 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 1.21 and a beta of 1.27. The business has a fifty day simple moving average of $40.01 and a two-hundred day simple moving average of $43.52. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.10. The firm had revenue of $27.37 billion during the quarter, compared to the consensus estimate of $26.83 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. Analysts expect that Bank of America Co. will post 3.7 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend is Friday, June 6th. Bank of America’s dividend payout ratio (DPR) is 30.95%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on BAC shares. JPMorgan Chase & Co. cut their price objective on Bank of America from $49.50 to $43.50 and set an “overweight” rating for the company in a research report on Thursday, April 3rd. HSBC raised Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Tuesday, January 7th. Barclays cut their target price on shares of Bank of America from $58.00 to $54.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Hsbc Global Res raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Finally, Phillip Securities raised shares of Bank of America from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, April 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $47.25.

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.