Clifford Swan Investment Counsel LLC Acquires 4,685 Shares of Bank of America Co. (NYSE:BAC)

Clifford Swan Investment Counsel LLC raised its holdings in shares of Bank of America Co. (NYSE:BAC) by 9.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,848 shares of the financial services provider’s stock after purchasing an additional 4,685 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in Bank of America were worth $1,746,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. Fortis Group Advisors LLC bought a new stake in shares of Bank of America in the 3rd quarter worth about $25,000. Criterion Capital Advisors LLC purchased a new position in Bank of America in the 4th quarter worth about $32,000. Glass Jacobson Investment Advisors llc increased its stake 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 worth $28,000 after buying an additional 504 shares during the period. ZRC Wealth Management LLC increased its stake 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 worth $38,000 after buying an additional 750 shares during the period. Finally, Private Ocean LLC increased its stake 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 worth $43,000 after buying an additional 325 shares during the period. Institutional investors own 70.71% of the company’s stock.

Bank of America Trading Up 1.2 %

Shares of BAC stock traded up $0.44 on Monday, hitting $37.69. 28,395,861 shares of the stock traded hands, compared to its average volume of 40,729,758. The firm’s 50-day moving average price is $36.46 and its two-hundred day moving average price is $33.16. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a market capitalization of $294.75 billion, a PE ratio of 13.04, a PEG ratio of 1.66 and a beta of 1.37. Bank of America Co. has a twelve month low of $24.96 and a twelve month high of $38.49.

Bank of America (NYSE:BAC) last announced its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.06. The firm 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 company’s revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.94 EPS. As a group, analysts anticipate that Bank of America Co. will post 3.21 EPS for the current year.

Bank of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.96 annualized dividend and a dividend yield of 2.55%. Bank of America’s payout ratio is 33.22%.

Analyst Ratings Changes

BAC has been the topic of several recent analyst reports. Morgan Stanley raised shares of Bank of America from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $32.00 to $41.00 in a research note on Tuesday, January 30th. BMO Capital Markets raised their price target on shares of Bank of America from $36.00 to $37.00 and gave the stock a “market perform” rating in a research note on Thursday, April 18th. UBS Group reissued a “neutral” rating and set a $40.00 target price (up previously from $39.00) on shares of Bank of America in a research report on Thursday, April 4th. Wolfe Research raised shares of Bank of America from a “peer perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a research report on Friday, April 19th. Finally, Jefferies Financial Group raised their target price 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. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $38.70.

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.