CFO4Life Group LLC Purchases 3,786 Shares of Bank of America Co. (NYSE:BAC)

CFO4Life Group LLC boosted its position in shares of Bank of America Co. (NYSE:BAC) by 58.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,274 shares of the financial services provider’s stock after buying an additional 3,786 shares during the quarter. CFO4Life Group LLC’s holdings in Bank of America were worth $457,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Camden National Bank grew its position in shares of Bank of America by 9.8% in the 4th quarter. Camden National Bank now owns 11,568 shares of the financial services provider’s stock worth $351,000 after buying an additional 1,030 shares during the period. New World Advisors LLC purchased a new stake in shares of Bank of America in the 3rd quarter worth about $471,000. EagleClaw Capital Managment LLC grew its position in shares of Bank of America by 0.8% in the 3rd quarter. EagleClaw Capital Managment LLC now owns 92,730 shares of the financial services provider’s stock worth $3,934,000 after buying an additional 778 shares during the period. Evolution Wealth Advisors LLC grew its position in shares of Bank of America by 143.9% in the 3rd quarter. Evolution Wealth Advisors LLC now owns 2,459 shares of the financial services provider’s stock worth $104,000 after buying an additional 1,451 shares during the period. Finally, MEMBERS Trust Co grew its position in shares of Bank of America by 52.3% in the 3rd quarter. MEMBERS Trust Co now owns 8,329 shares of the financial services provider’s stock worth $359,000 after buying an additional 2,859 shares during the period. Institutional investors own 70.46% of the company’s stock.

A number of analysts have recently weighed in on the stock. Robert W. Baird raised shares of Bank of America from an “underperform” rating to a “neutral” rating and set a $42.00 target price on the stock in a research report on Tuesday, March 8th. Morgan Stanley upgraded shares of Bank of America from an “underweight” rating to an “equal weight” rating and dropped their price target for the stock from $51.00 to $49.00 in a research note on Monday, March 28th. Argus upped their price target on shares of Bank of America from $50.00 to $55.00 in a research note on Thursday, January 20th. JPMorgan Chase & Co. upped their price target on shares of Bank of America from $52.50 to $53.50 in a research note on Thursday, February 3rd. Finally, The Goldman Sachs Group dropped their price target on shares of Bank of America from $52.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, April 20th. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $50.41.

Shares of NYSE:BAC traded down $0.58 on Thursday, hitting $34.99. 3,867,514 shares of the company’s stock were exchanged, compared to its average volume of 54,793,598. Bank of America Co. has a 12 month low of $35.18 and a 12 month high of $50.11. The stock has a market capitalization of $281.91 billion, a price-to-earnings ratio of 9.96, a price-to-earnings-growth ratio of 1.63 and a beta of 1.39. The business’s 50 day simple moving average is $39.75 and its two-hundred day simple moving average is $43.94. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.74 and a quick ratio of 0.74.

Bank of America (NYSE:BACGet Rating) last released its earnings results on Monday, April 18th. The financial services provider reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.01. Bank of America had a return on equity of 12.55% and a net margin of 32.84%. The business had revenue of $23.20 billion during the quarter, compared to the consensus estimate of $23.09 billion. During the same period last year, the company earned $0.86 earnings per share. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. Equities analysts forecast that Bank of America Co. will post 3.28 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 24th. Stockholders of record on Friday, June 3rd will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, June 2nd. This represents a $0.84 annualized dividend and a dividend yield of 2.40%. Bank of America’s dividend payout ratio (DPR) is 24.00%.

Bank of America Profile (Get Rating)

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. Its Consumer Banking segment offers traditional and money market savings accounts, certificates of deposit and IRAs, noninterest-and interest-bearing checking accounts, and investment accounts and products; and credit and debit cards, residential mortgages, and home equity loans, as well as direct and indirect loans, such as automotive, recreational vehicle, and consumer personal loans.

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Institutional Ownership by Quarter for Bank of America (NYSE:BAC)

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