Altrius Capital Management Inc Purchases 1,211 Shares of Bank of America Co. (NYSE:BAC)

Altrius Capital Management Inc raised its position in shares of Bank of America Co. (NYSE:BAC) by 1.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 114,774 shares of the financial services provider’s stock after purchasing an additional 1,211 shares during the quarter. Altrius Capital Management Inc’s holdings in Bank of America were worth $3,864,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Schechter Investment Advisors LLC grew its stake in shares of Bank of America by 8.2% during the 3rd quarter. Schechter Investment Advisors LLC now owns 55,348 shares of the financial services provider’s stock valued at $1,515,000 after acquiring an additional 4,187 shares during the period. Stonebridge Capital Advisors LLC grew its stake in shares of Bank of America by 3.7% during the 3rd quarter. Stonebridge Capital Advisors LLC now owns 65,495 shares of the financial services provider’s stock valued at $1,793,000 after acquiring an additional 2,332 shares during the period. Kingswood Wealth Advisors LLC lifted its holdings in Bank of America by 228.3% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 67,511 shares of the financial services provider’s stock worth $2,273,000 after purchasing an additional 46,950 shares in the last quarter. Sarasin & Partners LLP purchased a new position in Bank of America in the 4th quarter worth approximately $673,000. Finally, Pinnacle Associates Ltd. lifted its holdings in Bank of America by 30.0% in the 3rd quarter. Pinnacle Associates Ltd. now owns 978,784 shares of the financial services provider’s stock worth $26,799,000 after purchasing an additional 225,767 shares in the last quarter. 70.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on BAC shares. Keefe, Bruyette & Woods boosted their price target on Bank of America from $33.00 to $37.00 and gave the stock a “market perform” rating in a report on Friday, April 5th. Wolfe Research raised Bank of America from a “peer perform” rating to an “outperform” rating and set a $42.00 price objective on the stock in a report on Friday, April 19th. Citigroup upped their price objective on Bank of America from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. HSBC reaffirmed a “hold” rating and set a $39.00 price objective (up from $38.00) on shares of Bank of America in a report on Thursday, March 28th. Finally, Barclays increased their price target on Bank of America from $39.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Bank of America has an average rating of “Hold” and an average price target of $38.53.

Bank of America Stock Down 0.7 %

Shares of NYSE BAC traded down $0.28 during mid-day trading on Monday, reaching $37.55. 26,438,781 shares of the company were exchanged, compared to its average volume of 41,261,754. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.12. The stock has a market cap of $296.29 billion, a price-to-earnings ratio of 13.06, a P/E/G ratio of 1.69 and a beta of 1.39. Bank of America Co. has a 1 year low of $24.96 and a 1 year high of $38.49. The firm has a 50-day moving average of $36.13 and a 200 day moving average of $32.80.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. Bank of America had a return on equity of 10.88% and a net margin of 13.94%. The company had revenue of $25.82 billion during the quarter, compared to analysts’ expectations of $25.49 billion. During the same period last year, the business posted $0.94 earnings per share. The firm’s revenue was down 1.7% compared to the same quarter last year. On average, research analysts expect that Bank of America Co. will post 3.19 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, June 28th. Investors 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 2.56%. The ex-dividend date of this dividend is Friday, June 7th. Bank of America’s dividend payout ratio (DPR) is 33.22%.

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.