Asset Planning Inc Buys Shares of 4,996 Bank of America Co. (NYSE:BAC)

Asset Planning Inc bought a new stake in 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 fund bought 4,996 shares of the financial services provider’s stock, valued at approximately $220,000.

Other institutional investors have also recently bought and sold shares of the company. Vicus Capital increased its position in shares of Bank of America by 4.7% during the 4th quarter. Vicus Capital now owns 10,759 shares of the financial services provider’s stock worth $473,000 after purchasing an additional 480 shares during the last quarter. Palacios Wealth Management LLC acquired a new position in shares of Bank of America during the 4th quarter worth approximately $258,000. Root Financial Partners LLC increased its holdings in shares of Bank of America by 49.8% during the 4th quarter. Root Financial Partners LLC now owns 7,639 shares of the financial services provider’s stock worth $336,000 after acquiring an additional 2,538 shares during the last quarter. Vontobel Holding Ltd. increased its holdings in shares of Bank of America by 8.9% during the 4th quarter. Vontobel Holding Ltd. now owns 226,384 shares of the financial services provider’s stock worth $9,950,000 after acquiring an additional 18,423 shares during the last quarter. Finally, Bogart Wealth LLC increased its holdings in shares of Bank of America by 14.6% during the 4th quarter. Bogart Wealth LLC now owns 2,040 shares of the financial services provider’s stock worth $90,000 after acquiring an additional 260 shares during the last quarter. Institutional investors own 70.71% of the company’s stock.

Bank of America Trading Up 0.2 %

Shares of BAC stock opened at $46.32 on Friday. The stock has a market cap of $355.40 billion, a price-to-earnings ratio of 14.38, a PEG ratio of 1.29 and a beta of 1.33. The stock has a 50-day moving average of $45.76 and a 200-day moving average of $43.02. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. Bank of America Co. has a 1-year low of $32.49 and a 1-year high of $48.08.

Bank of America (NYSE:BAC) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.05. The business had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The company’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.70 earnings per share. On average, equities research analysts forecast that Bank of America Co. will post 3.69 earnings per share for the current year.

Bank of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.25%. Bank of America’s dividend payout ratio is presently 32.30%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. UBS Group raised Bank of America from a “neutral” rating to a “buy” rating and upped their price objective for the company from $43.00 to $53.00 in a report on Tuesday, January 7th. HSBC raised Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Tuesday, January 7th. Oppenheimer upped their price objective on Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Evercore ISI cut their target price on Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a research report on Friday, January 17th. Finally, Barclays upped their target price on Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Bank of America currently has a consensus rating of “Moderate Buy” and an average target price of $48.58.

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.