Adamsbrown Wealth Consultants LLC Has $443,000 Position in Bank of America Co. (NYSE:BAC)

Adamsbrown Wealth Consultants LLC boosted its holdings in Bank of America Co. (NYSE:BAC) by 4.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,618 shares of the financial services provider’s stock after buying an additional 444 shares during the period. Adamsbrown Wealth Consultants LLC’s holdings in Bank of America were worth $443,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of BAC. Avalon Trust Co lifted its position in Bank of America by 14.6% in the fourth quarter. Avalon Trust Co now owns 1,719 shares of the financial services provider’s stock worth $76,000 after buying an additional 219 shares during the last quarter. Prossimo Advisors LLC lifted its position in Bank of America by 2.5% in the fourth quarter. Prossimo Advisors LLC now owns 8,880 shares of the financial services provider’s stock worth $390,000 after buying an additional 220 shares during the last quarter. Consolidated Planning Corp lifted its position in Bank of America by 2.9% in the fourth quarter. Consolidated Planning Corp now owns 8,092 shares of the financial services provider’s stock worth $356,000 after buying an additional 226 shares during the last quarter. TAGStone Capital Inc. lifted its position in shares of Bank of America by 1.2% during the fourth quarter. TAGStone Capital Inc. now owns 19,802 shares of the financial services provider’s stock worth $870,000 after purchasing an additional 227 shares during the last quarter. Finally, TFB Advisors LLC lifted its position in shares of Bank of America by 3.8% during the fourth quarter. TFB Advisors LLC now owns 6,342 shares of the financial services provider’s stock worth $279,000 after purchasing an additional 230 shares during the last quarter. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Bank of America Stock Down 0.0%

Bank of America stock opened at $44.35 on Friday. 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 Co. has a 1-year low of $33.07 and a 1-year high of $48.08. The company has a market cap of $334.05 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 1.21 and a beta of 1.27. The stock’s 50 day moving average price is $40.64 and its 200 day moving average price is $43.51.

Bank of America (NYSE:BAC) last posted its earnings results on Tuesday, April 15th. The financial services provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.10. The company had revenue of $27.37 billion for 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%. On average, sell-side analysts predict that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 6th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.04 dividend on an annualized basis and a yield of 2.34%. Bank of America’s payout ratio is 30.95%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on BAC shares. Keefe, Bruyette & Woods decreased their target price on Bank of America from $55.00 to $52.00 and set an “outperform” rating for the company in a research report on Wednesday, April 16th. Cowen assumed coverage on Bank of America in a research note on Wednesday, May 14th. They set a “buy” rating on the stock. UBS Group lifted their target price on Bank of America from $46.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, April 16th. Citigroup cut their target price on Bank of America from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. Finally, Cfra Research lifted their target price on Bank of America to $47.00 and gave the company a “buy” rating in a research note on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $47.50.

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.