Sage Mountain Advisors LLC Has $8.53 Million Position in Bank of America Co. (NYSE:BAC)

Sage Mountain Advisors LLC grew its position in Bank of America Co. (NYSE:BAC) by 1.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 253,246 shares of the financial services provider’s stock after purchasing an additional 3,415 shares during the period. Bank of America comprises approximately 1.0% of Sage Mountain Advisors LLC’s holdings, making the stock its 18th biggest holding. Sage Mountain Advisors LLC’s holdings in Bank of America were worth $8,527,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Fortis Group Advisors LLC acquired a new stake in Bank of America in the 3rd quarter valued at about $25,000. Glass Jacobson Investment Advisors llc boosted its position in 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 buying an additional 504 shares during the last quarter. Criterion Capital Advisors LLC acquired a new stake in shares of Bank of America in the 4th quarter valued at $32,000. ZRC Wealth Management LLC raised its position in shares of Bank of America by 192.3% during the fourth quarter. ZRC Wealth Management LLC now owns 1,140 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 750 shares during the last quarter. Finally, Private Ocean LLC lifted its stake in shares of Bank of America by 34.0% during the fourth quarter. Private Ocean LLC now owns 1,281 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 325 shares during the period. Institutional investors own 70.71% of the company’s stock.

Bank of America Stock Up 2.2 %

BAC traded up $0.80 during trading on Monday, reaching $37.77. The company had a trading volume of 28,409,059 shares, compared to its average volume of 41,589,273. The business’s fifty day moving average price is $35.68 and its 200 day moving average price is $32.40. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.79 and a quick ratio of 0.79. Bank of America Co. has a 12 month low of $24.96 and a 12 month high of $38.35. The company has a market cap of $298.03 billion, a P/E ratio of 13.03, a PEG ratio of 1.66 and a beta of 1.39.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.77 by $0.06. The business had revenue of $25.82 billion for the quarter, compared to analysts’ expectations of $25.49 billion. Bank of America had a net margin of 13.94% and a return on equity of 10.88%. The firm’s revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.94 EPS. Equities analysts anticipate that Bank of America Co. will post 3.17 EPS for the current year.

Bank of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 1st were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.54%. Bank of America’s payout ratio is presently 33.22%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Barclays boosted their price objective on Bank of America from $39.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. HSBC reaffirmed a “hold” rating and set a $39.00 target price (up previously from $38.00) on shares of Bank of America in a report on Thursday, March 28th. Keefe, Bruyette & Woods increased their price target on Bank of America from $33.00 to $37.00 and gave the company a “market perform” rating in a research note on Friday, April 5th. Erste Group Bank raised Bank of America from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Finally, Morgan Stanley raised Bank of America from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $32.00 to $41.00 in a research note on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Bank of America has a consensus rating of “Hold” and an average price target of $38.53.

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.