Abner Herrman & Brock LLC grew its stake in shares of Bank of America Corp (NYSE:BAC) by 0.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 702,529 shares of the financial services provider’s stock after purchasing an additional 5,736 shares during the quarter. Bank of America makes up approximately 3.2% of Abner Herrman & Brock LLC’s investment portfolio, making the stock its 7th largest position. Abner Herrman & Brock LLC’s holdings in Bank of America were worth $17,310,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Carroll Financial Associates Inc. lifted its stake in Bank of America by 3.5% in the fourth quarter. Carroll Financial Associates Inc. now owns 149,015 shares of the financial services provider’s stock worth $3,808,000 after acquiring an additional 5,090 shares during the period. Northstar Investment Advisors LLC purchased a new stake in Bank of America in the fourth quarter worth about $237,000. Mitchell Mcleod Pugh & Williams Inc. lifted its stake in Bank of America by 10.8% in the fourth quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 37,614 shares of the financial services provider’s stock worth $927,000 after acquiring an additional 3,660 shares during the period. Hexavest Inc. lifted its stake in Bank of America by 11.2% in the fourth quarter. Hexavest Inc. now owns 4,024,603 shares of the financial services provider’s stock worth $99,166,000 after acquiring an additional 406,517 shares during the period. Finally, United Capital Management of KS Inc. lifted its stake in Bank of America by 14.9% in the fourth quarter. United Capital Management of KS Inc. now owns 54,618 shares of the financial services provider’s stock worth $1,346,000 after acquiring an additional 7,087 shares during the period. 64.36% of the stock is owned by hedge funds and other institutional investors.

Shares of BAC traded up $0.21 during mid-day trading on Friday, hitting $25.94. 2,146,663 shares of the company traded hands, compared to its average volume of 77,453,032. Bank of America Corp has a 1-year low of $22.66 and a 1-year high of $33.05. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. The company has a market cap of $263.88 billion, a P/E ratio of 14.17, a price-to-earnings-growth ratio of 1.15 and a beta of 1.31.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Monday, October 15th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.04. Bank of America had a net margin of 21.85% and a return on equity of 10.82%. The firm had revenue of $22.78 billion for the quarter, compared to the consensus estimate of $22.63 billion. During the same quarter in the prior year, the company posted $0.48 earnings per share. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, research analysts anticipate that Bank of America Corp will post 2.54 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 28th. Stockholders of record on Friday, December 7th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, December 6th. This represents a $0.60 annualized dividend and a dividend yield of 2.31%. Bank of America’s dividend payout ratio (DPR) is currently 32.79%.

A number of equities analysts have commented on the stock. BMO Capital Markets boosted their target price on shares of Bank of America from $35.00 to $36.00 and gave the stock a “market perform” rating in a report on Tuesday, October 16th. Wolfe Research assumed coverage on shares of Bank of America in a report on Tuesday, September 25th. They issued an “outperform” rating for the company. Robert W. Baird reiterated a “hold” rating and issued a $28.00 target price on shares of Bank of America in a report on Wednesday, January 2nd. ValuEngine downgraded shares of Bank of America from a “hold” rating to a “sell” rating in a report on Tuesday, October 23rd. Finally, UBS Group upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and set a $32.00 target price for the company in a report on Tuesday. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Bank of America presently has an average rating of “Buy” and a consensus target price of $33.51.

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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 through four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.

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Institutional Ownership by Quarter for Bank of America (NYSE:BAC)

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