Elevated Capital Advisors LLC Has $446,000 Stock Position in Bank of America Co. (NYSE:BAC)

Elevated Capital Advisors LLC increased its position in shares of Bank of America Co. (NYSE:BAC) by 29.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,152 shares of the financial services provider’s stock after purchasing an additional 2,325 shares during the quarter. Elevated Capital Advisors LLC’s holdings in Bank of America were worth $446,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of BAC. Fairway Wealth LLC acquired a new stake in shares of Bank of America during the 2nd quarter worth approximately $27,000. Kennebec Savings Bank acquired a new stake in shares of Bank of America in the 3rd quarter valued at $29,000. Highline Wealth Partners LLC increased its stake in shares of Bank of America by 152.7% in the 4th quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 510 shares during the last quarter. Christopher J. Hasenberg Inc raised its holdings in shares of Bank of America by 525.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock worth $40,000 after buying an additional 852 shares in the last quarter. Finally, Northwest Investment Counselors LLC acquired a new stake in Bank of America in the third quarter valued at about $45,000. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Bank of America Trading Down 0.0 %

BAC opened at $45.09 on Tuesday. Bank of America Co. has a fifty-two week low of $31.27 and a fifty-two week high of $48.08. The firm has a market capitalization of $345.97 billion, a PE ratio of 16.40, a P/E/G ratio of 1.55 and a beta of 1.33. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.80 and a quick ratio of 0.80. The company’s 50-day moving average is $45.61 and its 200 day moving average is $42.27.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.78 by $0.03. The firm had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.25 billion. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. The company’s quarterly revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.90 earnings per share. As a group, research analysts predict that Bank of America Co. will post 3.27 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 6th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend was Friday, December 6th. Bank of America’s payout ratio is currently 37.82%.

Analysts Set New Price Targets

Several brokerages have commented on BAC. Evercore ISI boosted their target price on Bank of America from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Wells Fargo & Company boosted their target price on shares of Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Keefe, Bruyette & Woods upped their price target on Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $46.00 target price on shares of Bank of America in a research note on Wednesday, October 9th. Finally, UBS Group upgraded Bank of America from a “neutral” rating to a “buy” rating and upped their target price for the company from $43.00 to $53.00 in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $47.50.

Bank of America 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.