Everpar Advisors LLC Buys Shares of 34,709 Bank of America Co. (NYSE:BAC)

Everpar Advisors LLC purchased a new position in shares of Bank of America Co. (NYSE:BAC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 34,709 shares of the financial services provider’s stock, valued at approximately $1,169,000.

A number of other large investors have also made changes to their positions in the company. Barclays PLC grew its position in shares of Bank of America by 97.3% in the 3rd quarter. Barclays PLC now owns 41,290,694 shares of the financial services provider’s stock valued at $1,130,538,000 after purchasing an additional 20,362,295 shares during the period. Alphinity Investment Management Pty Ltd raised its holdings in shares of Bank of America by 1,071.8% during the fourth quarter. Alphinity Investment Management Pty Ltd now owns 14,082,264 shares of the financial services provider’s stock worth $474,150,000 after acquiring an additional 12,880,492 shares during the period. Darsana Capital Partners LP acquired a new position in Bank of America in the 3rd quarter worth $177,970,000. Canada Pension Plan Investment Board increased its holdings in Bank of America by 143.5% during the 3rd quarter. Canada Pension Plan Investment Board now owns 10,659,309 shares of the financial services provider’s stock worth $291,852,000 after purchasing an additional 6,281,690 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new stake in Bank of America in the 3rd quarter valued at approximately $168,610,000. Institutional investors own 70.71% of the company’s stock.

Bank of America Stock Performance

NYSE:BAC traded down $0.14 during mid-day trading on Wednesday, hitting $37.70. 32,799,608 shares of the stock were exchanged, compared to its average volume of 40,510,223. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.79 and a current ratio of 0.79. The firm’s 50-day simple moving average is $36.61 and its 200 day simple moving average is $33.31. Bank of America Co. has a fifty-two week low of $24.96 and a fifty-two week high of $38.49. The stock has a market capitalization of $294.83 billion, a price-to-earnings ratio of 13.05, a price-to-earnings-growth ratio of 1.66 and a beta of 1.37.

Bank of America (NYSE:BAC) last posted its earnings results 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. 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 the consensus estimate of $25.49 billion. During the same quarter last year, the firm earned $0.94 earnings per share. The company’s revenue was down 1.7% on a year-over-year basis. As a group, equities analysts anticipate that Bank of America Co. will post 3.21 EPS for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a $0.24 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.55%. Bank of America’s payout ratio is 33.22%.

Analyst Ratings Changes

A number of analysts have recently commented on BAC shares. Evercore ISI boosted their price objective on shares of Bank of America from $37.00 to $41.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Morgan Stanley raised shares of Bank of America from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $32.00 to $41.00 in a research report on Tuesday, January 30th. BMO Capital Markets raised their price objective on Bank of America from $36.00 to $37.00 and gave the company a “market perform” rating in a report on Thursday, April 18th. Erste Group Bank upgraded Bank of America from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Finally, 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 research note on Monday, April 8th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $38.70.

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.