Bank of America Co. (NYSE:BAC) Shares Acquired by Rollins Financial Advisors LLC

Rollins Financial Advisors LLC lifted its position in Bank of America Co. (NYSE:BAC) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 525,473 shares of the financial services provider’s stock after purchasing an additional 12,507 shares during the quarter. Bank of America comprises 3.6% of Rollins Financial Advisors LLC’s holdings, making the stock its 8th largest position. Rollins Financial Advisors LLC’s holdings in Bank of America were worth $23,095,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Collier Financial purchased a new stake in shares of Bank of America in the fourth quarter valued at approximately $25,000. Life Planning Partners Inc grew its stake in Bank of America by 3,883.2% in the 4th quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 545,936 shares during the period. Graney & King LLC purchased a new stake in Bank of America in the 4th quarter worth $25,000. Fairway Wealth LLC acquired a new position in Bank of America during the fourth quarter worth $29,000. Finally, Highline Wealth Partners LLC lifted its holdings in Bank of America by 152.7% during the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 510 shares in the last quarter. 70.71% of the stock is owned by hedge funds and other institutional investors.

Bank of America Price Performance

BAC opened at $34.37 on Monday. Bank of America Co. has a 1 year low of $32.70 and a 1 year high of $48.08. The company’s 50 day simple moving average is $43.74 and its 200 day simple moving average is $43.94. The stock has a market capitalization of $261.32 billion, a PE ratio of 10.67, a P/E/G ratio of 1.21 and a beta of 1.32. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78.

Bank of America (NYSE:BAC) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.77 by $0.05. The firm had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.12 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. Bank of America’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.70 earnings per share. As a group, sell-side analysts expect that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 7th were paid a dividend of $0.26 per share. The ex-dividend date was Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a yield of 3.03%. Bank of America’s dividend payout ratio (DPR) is 32.30%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. UBS Group raised Bank of America from a “neutral” rating to a “buy” rating and increased their target price for the company from $43.00 to $53.00 in a report on Tuesday, January 7th. Citigroup decreased their price objective on Bank of America from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, March 24th. HSBC upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Tuesday, January 7th. Oppenheimer raised their target price on shares of Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Finally, 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.31.

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.