Coyle Financial Counsel LLC Purchases 858 Shares of Bank of America Co. (NYSE:BAC)

Coyle Financial Counsel LLC increased its position in Bank of America Co. (NYSE:BAC) by 11.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,531 shares of the financial services provider’s stock after purchasing an additional 858 shares during the period. Coyle Financial Counsel LLC’s holdings in Bank of America were worth $375,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of BAC. Collier Financial bought a new position in Bank of America during the 4th quarter valued at about $25,000. Life Planning Partners Inc lifted its stake in Bank of America by 3,883.2% during 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. Kennebec Savings Bank bought a new position in Bank of America during the 3rd quarter valued at about $29,000. Highline Wealth Partners LLC lifted its stake in Bank of America by 152.7% during the 4th quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 510 shares during the period. Finally, Retirement Wealth Solutions LLC bought a new position in Bank of America during the 4th quarter valued at about $42,000. Institutional investors own 70.71% of the company’s stock.

Bank of America Trading Down 0.7 %

Bank of America stock opened at $44.48 on Tuesday. The firm has a 50 day moving average of $45.73 and a 200 day moving average of $43.46. The firm has a market capitalization of $341.25 billion, a price-to-earnings ratio of 13.81, a P/E/G ratio of 1.21 and a beta of 1.33. Bank of America Co. has a 12-month low of $33.53 and a 12-month high of $48.08. 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 (NYSE:BAC) last announced its quarterly earnings data 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 business had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.12 billion. During the same period last year, the firm posted $0.70 EPS. The company’s revenue was up 15.0% on a year-over-year basis. As a group, research analysts predict that Bank of America Co. will post 3.7 earnings per share for the current year.

Bank of America Dividend Announcement

The business 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. This represents a $1.04 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date is Friday, March 7th. Bank of America’s dividend payout ratio (DPR) is currently 32.30%.

Wall Street Analysts Forecast Growth

BAC has been the topic of several research analyst reports. UBS Group upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and upped their target price for the company from $43.00 to $53.00 in a research note on Tuesday, January 7th. Citigroup upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and upped their target price for the company from $46.00 to $54.00 in a research note on Friday, November 8th. Evercore ISI lowered 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 research note on Friday, January 17th. Hsbc Global Res upgraded shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Finally, HSBC upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company 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.