Guyasuta Investment Advisors Inc. Has $716,000 Position in Bank of America Co. (NYSE:BAC)

Guyasuta Investment Advisors Inc. grew its position in Bank of America Co. (NYSE:BAC) by 6.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,299 shares of the financial services provider’s stock after buying an additional 940 shares during the quarter. Guyasuta Investment Advisors Inc.’s holdings in Bank of America were worth $716,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Swedbank AB grew its holdings in shares of Bank of America by 0.7% during the 3rd quarter. Swedbank AB now owns 7,042,374 shares of the financial services provider’s stock valued at $279,441,000 after purchasing an additional 50,849 shares during the last quarter. Vontobel Holding Ltd. grew its holdings in shares of Bank of America by 33.3% during the 3rd quarter. Vontobel Holding Ltd. now owns 207,961 shares of the financial services provider’s stock valued at $8,252,000 after purchasing an additional 51,903 shares during the last quarter. Twelve Points Wealth Management LLC grew its holdings in shares of Bank of America by 4.4% during the 3rd quarter. Twelve Points Wealth Management LLC now owns 8,808 shares of the financial services provider’s stock valued at $350,000 after purchasing an additional 369 shares during the last quarter. B.O.S.S. Retirement Advisors LLC grew its holdings in shares of Bank of America by 13.6% during the 3rd quarter. B.O.S.S. Retirement Advisors LLC now owns 13,628 shares of the financial services provider’s stock valued at $541,000 after purchasing an additional 1,631 shares during the last quarter. Finally, Hengehold Capital Management LLC grew its holdings in shares of Bank of America by 24.8% during the 3rd quarter. Hengehold Capital Management LLC now owns 7,813 shares of the financial services provider’s stock valued at $310,000 after purchasing an additional 1,555 shares during the last quarter. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Bank of America Stock Up 1.4 %

Bank of America stock opened at $46.98 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. Bank of America Co. has a 12-month low of $32.49 and a 12-month high of $48.08. The firm’s fifty day moving average is $45.75 and its 200 day moving average is $43.05. The company has a market capitalization of $360.47 billion, a PE ratio of 14.59, a PEG ratio of 1.29 and a beta of 1.33.

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, beating analysts’ consensus estimates of $0.77 by $0.05. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The company had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.12 billion. During the same quarter in the previous year, the company earned $0.70 EPS. Bank of America’s quarterly revenue was up 15.0% compared to the same quarter last year. As a group, sell-side analysts predict that Bank of America Co. will post 3.69 EPS for the current fiscal year.

Bank of America Announces Dividend

The firm 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 annualized dividend and a yield of 2.21%. Bank of America’s payout ratio is 32.30%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BAC. UBS Group raised shares of Bank of America from a “neutral” rating to a “buy” rating and lifted their price target for the company from $43.00 to $53.00 in a report on Tuesday, January 7th. Evercore ISI reduced their target price on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a report on Friday, January 17th. Citigroup raised shares of Bank of America from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $46.00 to $54.00 in a report on Friday, November 8th. Barclays boosted their target price on shares of Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, Phillip Securities raised shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 target price on the stock in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given 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 currently has an average rating of “Moderate Buy” and an average price target of $48.58.

Bank of America Company 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.