Regent Peak Wealth Advisors LLC Has $336,000 Stock Holdings in Bank of America Co. (NYSE:BAC)

Regent Peak Wealth Advisors LLC increased its position in Bank of America Co. (NYSE:BAC) by 3.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,976 shares of the financial services provider’s stock after purchasing an additional 314 shares during the quarter. Regent Peak Wealth Advisors LLC’s holdings in Bank of America were worth $336,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. TIAA Trust National Association raised its holdings in shares of Bank of America by 11.1% in the 4th quarter. TIAA Trust National Association now owns 653,129 shares of the financial services provider’s stock valued at $21,991,000 after purchasing an additional 65,294 shares during the period. Private Ocean LLC raised its holdings in Bank of America by 34.0% in the 4th 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. My Personal CFO LLC bought a new position in Bank of America in the 4th quarter valued at about $237,000. Bell Bank raised its holdings in Bank of America by 12.4% in the 4th quarter. Bell Bank now owns 15,753 shares of the financial services provider’s stock valued at $530,000 after acquiring an additional 1,739 shares during the period. Finally, State of Michigan Retirement System raised its holdings in Bank of America by 4.5% in the 4th quarter. State of Michigan Retirement System now owns 1,981,212 shares of the financial services provider’s stock valued at $66,707,000 after acquiring an additional 86,000 shares during the period. 70.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BAC. Morgan Stanley raised shares of Bank of America from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $32.00 to $41.00 in a report on Tuesday, January 30th. Odeon Capital Group cut shares of Bank of America from a “buy” rating to a “hold” rating and set a $33.90 price target on the stock. in a report on Tuesday, January 16th. Citigroup increased their price target on shares of Bank of America from $37.00 to $39.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. Barclays lifted their price target on shares of Bank of America from $39.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Finally, HSBC reiterated a “hold” rating and issued a $39.00 price target (up from $38.00) on shares of Bank of America in a research report on Thursday, March 28th. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $36.15.

Read Our Latest Research Report on BAC

Bank of America Price Performance

Shares of NYSE BAC traded down $0.22 during midday trading on Tuesday, reaching $37.30. 33,961,769 shares of the company were exchanged, compared to its average volume of 40,920,441. The stock’s 50-day moving average price is $34.80 and its 200-day moving average price is $31.51. The stock has a market cap of $294.32 billion, a P/E ratio of 12.15, a PEG ratio of 1.75 and a beta of 1.39. Bank of America Co. has a one year low of $24.96 and a one year high of $38.35. 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 (NYSE:BACGet Free Report) last issued its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.01. Bank of America had a net margin of 15.42% and a return on equity of 11.38%. The company had revenue of $22 billion for the quarter, compared to analysts’ expectations of $23.70 billion. During the same quarter in the previous year, the firm posted $0.85 earnings per share. Bank of America’s revenue for the quarter was down 10.2% on a year-over-year basis. On average, sell-side analysts anticipate that Bank of America Co. will post 3.1 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 1st were paid a $0.24 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.96 annualized dividend and a dividend yield of 2.57%. Bank of America’s dividend payout ratio is 31.27%.

Bank of America Company Profile

(Free Report)

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.

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

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