Syon Capital LLC Buys 54,964 Shares of Bank of America Co. (NYSE:BAC)

Syon Capital LLC grew its stake in shares of Bank of America Co. (NYSE:BAC) by 125.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 98,789 shares of the financial services provider’s stock after acquiring an additional 54,964 shares during the quarter. Syon Capital LLC’s holdings in Bank of America were worth $3,326,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Impact Partnership Wealth LLC boosted its holdings in shares of Bank of America by 879.9% in the third quarter. Impact Partnership Wealth LLC now owns 2,244 shares of the financial services provider’s stock worth $61,000 after buying an additional 2,015 shares during the last quarter. GHP Investment Advisors Inc. raised its holdings in Bank of America by 2.6% in the 3rd quarter. GHP Investment Advisors Inc. now owns 127,343 shares of the financial services provider’s stock worth $3,408,000 after purchasing an additional 3,170 shares during the period. Carolina Wealth Advisors LLC lifted its position in Bank of America by 3,372.9% during the third quarter. Carolina Wealth Advisors LLC now owns 2,431 shares of the financial services provider’s stock valued at $67,000 after purchasing an additional 2,361 shares in the last quarter. Meridian Wealth Management LLC raised its stake in shares of Bank of America by 79.5% in the third quarter. Meridian Wealth Management LLC now owns 74,154 shares of the financial services provider’s stock worth $2,030,000 after buying an additional 32,847 shares during the period. Finally, CreativeOne Wealth LLC lifted its position in shares of Bank of America by 67.4% during the 3rd quarter. CreativeOne Wealth LLC now owns 64,962 shares of the financial services provider’s stock valued at $1,779,000 after buying an additional 26,160 shares in the last quarter. 70.71% of the stock is currently owned by institutional investors.

Bank of America Trading Down 0.2 %

Shares of Bank of America stock traded down $0.08 on Friday, reaching $37.83. The company had a trading volume of 28,526,467 shares, compared to its average volume of 41,438,316. The firm has a market cap of $298.50 billion, a price-to-earnings ratio of 13.15, a P/E/G ratio of 1.72 and a beta of 1.39. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.79 and a quick ratio of 0.79. The firm’s 50-day moving average price is $36.06 and its two-hundred day moving average price is $32.64. Bank of America Co. has a 1 year low of $24.96 and a 1 year high of $38.49.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.06. The company had revenue of $25.82 billion for the quarter, compared to analyst estimates of $25.49 billion. Bank of America had a net margin of 13.94% and a return on equity of 10.88%. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.94 EPS. As a group, research analysts predict that Bank of America Co. will post 3.19 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.54%. Bank of America’s payout ratio is currently 33.22%.

Analyst Ratings Changes

BAC has been the topic of a number of recent analyst reports. Jefferies Financial Group raised their price target on Bank of America from $36.00 to $39.00 and gave the company a “hold” rating in a report on Monday, April 8th. Evercore ISI boosted their price target on Bank of America from $37.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Wells Fargo & Company increased their price objective on shares of Bank of America from $40.00 to $44.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Erste Group Bank raised shares of Bank of America from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Finally, Morgan Stanley raised shares of Bank of America from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $32.00 to $41.00 in a research note on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Bank of America currently has an average rating of “Hold” and a consensus price target of $38.53.

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.