10,118 Shares in Bank of America Co. (NYSE:BAC) Purchased by Crabel Capital Management LLC

Crabel Capital Management LLC bought a new stake in shares of Bank of America Co. (NYSE:BAC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,118 shares of the financial services provider’s stock, valued at approximately $445,000. Bank of America accounts for 1.4% of Crabel Capital Management LLC’s portfolio, making the stock its 21st largest holding.

Other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its position in Bank of America by 3.8% during the third quarter. Principal Financial Group Inc. now owns 15,415,630 shares of the financial services provider’s stock valued at $611,692,000 after purchasing an additional 569,385 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Bank of America by 7.6% during the 4th quarter. Nordea Investment Management AB now owns 1,539,680 shares of the financial services provider’s stock valued at $67,623,000 after buying an additional 109,386 shares in the last quarter. CWA Asset Management Group LLC increased its holdings in Bank of America by 8.6% in the 4th quarter. CWA Asset Management Group LLC now owns 123,304 shares of the financial services provider’s stock worth $5,419,000 after acquiring an additional 9,811 shares in the last quarter. Neville Rodie & Shaw Inc. raised its stake in Bank of America by 13.0% during the 4th quarter. Neville Rodie & Shaw Inc. now owns 59,233 shares of the financial services provider’s stock worth $2,603,000 after acquiring an additional 6,831 shares during the period. Finally, Insight Wealth Strategies LLC lifted its holdings in Bank of America by 4.6% during the fourth quarter. Insight Wealth Strategies LLC now owns 8,151 shares of the financial services provider’s stock valued at $358,000 after purchasing an additional 359 shares in the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Wall Street Analyst Weigh In

BAC has been the topic of a number of analyst reports. Oppenheimer lifted their target price on shares of Bank of America from $50.00 to $51.00 and gave the company an “outperform” rating in a research note on Monday, April 28th. Argus lowered their price target on Bank of America from $53.00 to $47.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Phillip Securities upgraded shares of Bank of America from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, April 17th. Cfra Research raised their target price on shares of Bank of America to $47.00 and gave the company a “buy” rating in a research note on Wednesday, April 16th. Finally, Baird R W upgraded shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bank of America has an average rating of “Moderate Buy” and an average price target of $47.25.

Bank of America Price Performance

Bank of America stock opened at $41.10 on Tuesday. The stock has a market cap of $312.47 billion, a price-to-earnings ratio of 12.76, a price-to-earnings-growth ratio of 1.21 and a beta of 1.27. The firm has a 50-day moving average of $39.95 and a two-hundred day moving average of $43.52. Bank of America Co. has a 1 year low of $33.07 and a 1 year high of $48.08. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78.

Bank of America (NYSE:BAC) last issued its earnings results on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.10. The business had revenue of $27.37 billion during the quarter, compared to analysts’ expectations of $26.83 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. On average, research analysts forecast that Bank of America Co. will post 3.7 earnings per share for the current year.

Bank of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 6th will be issued a $0.26 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.04 annualized dividend and a dividend yield of 2.53%. Bank of America’s dividend payout ratio is currently 30.95%.

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.