Campbell Deegan Wealth Management LLC Buys New Shares in Bank of America Co. (NYSE:BAC)

Campbell Deegan Wealth Management LLC bought a new stake in shares of Bank of America Co. (NYSE:BAC) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 9,559 shares of the financial services provider’s stock, valued at approximately $420,000. Bank of America comprises approximately 0.5% of Campbell Deegan Wealth Management LLC’s investment portfolio, making the stock its 27th biggest holding.

Other large investors have also recently bought and sold shares of the company. Collier Financial acquired a new position in Bank of America during the 4th quarter valued at $25,000. Life Planning Partners Inc increased its holdings in Bank of America by 3,883.2% in the 4th quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider’s stock valued at $25,000 after buying an additional 545,936 shares during the period. Graney & King LLC bought a new stake in Bank of America in the 4th quarter valued at $25,000. Fairway Wealth LLC acquired a new position in shares of Bank of America in the 4th quarter valued at $29,000. Finally, Vega Investment Solutions bought a new position in shares of Bank of America during the 4th quarter worth about $30,000. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Bank of America Trading Up 2.3%

Shares of NYSE BAC opened at $44.20 on Wednesday. Bank of America Co. has a 1-year low of $33.07 and a 1-year high of $48.08. The company has a market cap of $332.91 billion, a PE ratio of 13.73, a P/E/G ratio of 1.21 and a beta of 1.27. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. The company has a 50-day moving average of $40.39 and a two-hundred day moving average of $43.58.

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

Bank of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders 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 dividend yield of 2.35%. The ex-dividend date is Friday, June 6th. Bank of America’s dividend payout ratio is presently 30.95%.

Analyst Ratings Changes

BAC has been the topic of several recent research reports. Cowen initiated coverage on shares of Bank of America in a research report on Wednesday, May 14th. They set a “buy” rating on the stock. Wall Street Zen lowered shares of Bank of America from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Royal Bank of Canada decreased their target price on shares of Bank of America from $50.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 16th. Citigroup decreased their target price on shares of Bank of America from $54.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Finally, Oppenheimer reiterated an “outperform” rating on shares of Bank of America in a research report on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $47.50.

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.