Bryn Mawr Capital Management LLC Grows Stock Holdings in Bank of America Co. (NYSE:BAC)

Bryn Mawr Capital Management LLC grew its position in shares of Bank of America Co. (NYSE:BAC) by 2.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 58,439 shares of the financial services provider’s stock after acquiring an additional 1,220 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Bank of America were worth $2,568,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Swedbank AB boosted its stake in shares of Bank of America by 0.7% in the 3rd quarter. Swedbank AB now owns 7,042,374 shares of the financial services provider’s stock valued at $279,441,000 after purchasing an additional 50,849 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in Bank of America by 129.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 25,290 shares of the financial services provider’s stock valued at $1,004,000 after buying an additional 14,291 shares during the period. Jacobsen Capital Management grew its stake in shares of Bank of America by 13.9% during the third quarter. Jacobsen Capital Management now owns 9,099 shares of the financial services provider’s stock valued at $361,000 after buying an additional 1,113 shares during the last quarter. Adell Harriman & Carpenter Inc. increased its holdings in shares of Bank of America by 5.9% in the third quarter. Adell Harriman & Carpenter Inc. now owns 44,955 shares of the financial services provider’s stock worth $1,784,000 after buying an additional 2,500 shares during the period. Finally, Pathway Financial Advisers LLC lifted its stake in shares of Bank of America by 1,842.7% in the 3rd quarter. Pathway Financial Advisers LLC now owns 571,160 shares of the financial services provider’s stock valued at $22,664,000 after acquiring an additional 541,760 shares during the last quarter. 70.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Oppenheimer lifted their price target on Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. UBS Group raised shares of Bank of America from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $43.00 to $53.00 in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods increased their price target on shares of Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company boosted their price objective on shares of Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Citigroup raised shares of Bank of America from a “neutral” rating to a “buy” rating and upped their price objective for the company from $46.00 to $54.00 in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $48.58.

Bank of America Stock Up 0.0 %

NYSE:BAC opened at $43.96 on Thursday. Bank of America Co. has a 1-year low of $33.71 and a 1-year high of $48.08. The company has a market capitalization of $337.28 billion, a PE ratio of 13.65, a P/E/G ratio of 1.21 and a beta of 1.33. The firm’s 50-day moving average price is $45.72 and its 200-day moving average price is $43.50. 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 announced its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The business had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. During the same quarter last year, the firm earned $0.70 earnings per share. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. On average, equities analysts predict that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date is Friday, March 7th. Bank of America’s payout ratio is 32.30%.

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.