Avior Wealth Management LLC Grows Stake in Bank of America Co. (NYSE:BAC)

Avior Wealth Management LLC grew its holdings in Bank of America Co. (NYSE:BAC) by 2.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 91,792 shares of the financial services provider’s stock after acquiring an additional 2,113 shares during the quarter. Avior Wealth Management LLC’s holdings in Bank of America were worth $3,091,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Fortis Group Advisors LLC purchased a new position in Bank of America during the 3rd quarter worth approximately $25,000. Glass Jacobson Investment Advisors llc increased its holdings in shares of Bank of America by 98.1% in the 3rd quarter. Glass Jacobson Investment Advisors llc now owns 1,018 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 504 shares during the period. Castleview Partners LLC purchased a new stake in Bank of America in the 1st quarter valued at $28,000. Strategic Investment Solutions Inc. IL purchased a new stake in Bank of America in the 1st quarter valued at $34,000. Finally, ZRC Wealth Management LLC raised its position in Bank of America by 192.3% in the 4th quarter. ZRC Wealth Management LLC now owns 1,140 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 750 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Stock Performance

NYSE:BAC opened at $34.68 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.15. Bank of America Co. has a fifty-two week low of $24.96 and a fifty-two week high of $38.35. The stock has a market cap of $273.65 billion, a PE ratio of 11.30, a price-to-earnings-growth ratio of 1.64 and a beta of 1.39. The firm’s fifty day simple moving average is $35.51 and its 200-day simple moving average is $32.19.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 1st were paid a dividend of $0.24 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.77%. Bank of America’s dividend payout ratio (DPR) is presently 31.27%.

Analyst Upgrades and Downgrades

BAC has been the subject of several research reports. Citigroup upped their price target on shares of Bank of America from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. BMO Capital Markets reduced their price target on shares of Bank of America from $37.00 to $36.00 and set a “market perform” rating for the company in a research report on Tuesday, January 16th. UBS Group reiterated a “neutral” rating and issued a $40.00 price target (up previously from $39.00) on shares of Bank of America in a research report on Thursday, April 4th. Jefferies Financial Group upped their price target on shares of Bank of America from $36.00 to $39.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Finally, HSBC reiterated a “hold” rating and issued a $39.00 price target (up previously from $38.00) on shares of Bank of America in a research report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $38.29.

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.