11,799 Shares in Bank of America Co. (NYSE:BAC) Acquired by Kentucky Trust Co

Kentucky Trust Co acquired a new position in Bank of America Co. (NYSE:BAC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,799 shares of the financial services provider’s stock, valued at approximately $519,000.

A number of other hedge funds have also recently added to or reduced their stakes in BAC. Viewpoint Capital Management LLC grew its holdings in Bank of America by 2.4% during the fourth quarter. Viewpoint Capital Management LLC now owns 164,919 shares of the financial services provider’s stock valued at $7,248,000 after purchasing an additional 3,840 shares during the last quarter. TFB Advisors LLC grew its holdings in Bank of America by 3.8% during the fourth quarter. TFB Advisors LLC now owns 6,342 shares of the financial services provider’s stock valued at $279,000 after purchasing an additional 230 shares during the last quarter. Capital Advisors Inc. OK grew its holdings in Bank of America by 0.9% during the fourth quarter. Capital Advisors Inc. OK now owns 43,226 shares of the financial services provider’s stock valued at $1,900,000 after purchasing an additional 393 shares during the last quarter. Certuity LLC grew its holdings in Bank of America by 0.5% during the fourth quarter. Certuity LLC now owns 500,718 shares of the financial services provider’s stock valued at $22,007,000 after purchasing an additional 2,362 shares during the last quarter. Finally, Indiana Trust & Investment Management Co grew its holdings in Bank of America by 3.1% during the fourth quarter. Indiana Trust & Investment Management Co now owns 7,836 shares of the financial services provider’s stock valued at $344,000 after purchasing an additional 236 shares during the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on BAC shares. Hsbc Global Res upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Morgan Stanley increased their price target on Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Friday, January 17th. HSBC upgraded Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Tuesday, January 7th. StockNews.com raised Bank of America from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, Oppenheimer increased their price objective on Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.58.

Bank of America Stock Up 0.3 %

Shares of BAC stock opened at $46.80 on Wednesday. The stock has a market cap of $359.08 billion, a P/E ratio of 14.53, a price-to-earnings-growth ratio of 1.29 and a beta of 1.33. Bank of America Co. has a one year low of $32.35 and a one year high of $48.08. The stock has a fifty day moving average price of $45.77 and a 200 day moving average price of $42.96. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78.

Bank of America (NYSE:BAC) last issued its earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.77 by $0.05. The firm had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. Bank of America’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period last year, the business earned $0.70 earnings per share. Analysts predict 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 disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be issued a dividend of $0.26 per share. 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 2.22%. Bank of America’s payout ratio is presently 32.30%.

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.