Capital Advisors Inc. OK Buys 393 Shares of Bank of America Co. (NYSE:BAC)

Capital Advisors Inc. OK grew its stake in Bank of America Co. (NYSE:BAC) by 0.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,226 shares of the financial services provider’s stock after purchasing an additional 393 shares during the period. Capital Advisors Inc. OK’s holdings in Bank of America were worth $1,900,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the business. Certuity LLC grew its position in Bank of America by 0.5% during the 4th quarter. Certuity LLC now owns 500,718 shares of the financial services provider’s stock worth $22,007,000 after acquiring an additional 2,362 shares during the last quarter. Indiana Trust & Investment Management Co grew its position in Bank of America by 3.1% during the 4th quarter. Indiana Trust & Investment Management Co now owns 7,836 shares of the financial services provider’s stock worth $344,000 after acquiring an additional 236 shares during the last quarter. Community Financial Services Group LLC grew its position in Bank of America by 6.0% during the 4th quarter. Community Financial Services Group LLC now owns 124,589 shares of the financial services provider’s stock worth $5,476,000 after acquiring an additional 7,065 shares during the last quarter. Schear Investment Advisers LLC grew its position in Bank of America by 1.7% during the 4th quarter. Schear Investment Advisers LLC now owns 23,683 shares of the financial services provider’s stock worth $1,041,000 after acquiring an additional 397 shares during the last quarter. Finally, Leavell Investment Management Inc. grew its position in Bank of America by 37.4% during the 4th quarter. Leavell Investment Management Inc. now owns 15,951 shares of the financial services provider’s stock worth $701,000 after acquiring an additional 4,342 shares during the last quarter. 70.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the company. HSBC raised Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Tuesday, January 7th. Barclays upped their price objective on Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. UBS Group raised Bank of America from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $43.00 to $53.00 in a report on Tuesday, January 7th. Oppenheimer increased their price target on Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Finally, Phillip Securities raised Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price target on the stock in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bank of America presently has a consensus rating of “Moderate Buy” and an average price target of $48.58.

Bank of America Price Performance

BAC stock opened at $46.80 on Wednesday. The stock has a 50-day moving average price of $45.77 and a two-hundred day moving average price of $42.96. The stock has a market cap of $359.08 billion, a PE ratio of 14.53, a price-to-earnings-growth ratio of 1.29 and a beta of 1.33. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. Bank of America Co. has a 1 year low of $32.35 and a 1 year high of $48.08.

Bank of America (NYSE:BAC) last released its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. The company’s revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.70 EPS. Equities analysts forecast that Bank of America Co. will post 3.69 EPS for the current fiscal year.

Bank of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend is Friday, March 7th. Bank of America’s payout ratio is 32.30%.

Bank of America Profile

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.