15,309 Shares in Bank of America Co. (NYSE:BAC) Bought by GUNN & Co INVESTMENT MANAGEMENT INC.

GUNN & Co INVESTMENT MANAGEMENT INC. acquired a new stake in shares of Bank of America Co. (NYSE:BAC) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 15,309 shares of the financial services provider’s stock, valued at approximately $515,000.

A number of other hedge funds have also added to or reduced their stakes in BAC. Fortis Group Advisors LLC purchased a new position in shares of Bank of America during the third quarter valued at about $25,000. Glass Jacobson Investment Advisors llc raised its position in shares of 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 acquiring an additional 504 shares in the last quarter. Criterion Capital Advisors LLC purchased a new position in shares of Bank of America in the 4th quarter valued at approximately $32,000. ZRC Wealth Management LLC boosted 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 valued at $38,000 after purchasing an additional 750 shares in the last quarter. Finally, Private Ocean LLC boosted its position 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 purchasing an additional 325 shares in the last quarter. 70.71% of the stock is owned by hedge funds and other institutional investors.

Bank of America Stock Up 1.0 %

Shares of Bank of America stock opened at $37.25 on Friday. Bank of America Co. has a twelve month low of $24.96 and a twelve month high of $38.49. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.12. The company’s 50 day moving average is $36.46 and its 200 day moving average is $33.08. The company has a market cap of $291.31 billion, a price-to-earnings ratio of 12.89, a price-to-earnings-growth ratio of 1.65 and a beta of 1.37.

Bank of America (NYSE:BAC) last released 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 return on equity of 10.88% and a net margin of 13.94%. The company’s revenue was down 1.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.94 EPS. Research analysts anticipate that Bank of America Co. will post 3.2 EPS for the current year.

Bank of America Announces Dividend

The firm 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. This represents a $0.96 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend is Friday, June 7th. Bank of America’s payout ratio is currently 33.22%.

Wall Street Analyst Weigh In

Several equities analysts have commented on BAC shares. UBS Group reissued a “neutral” rating and set a $40.00 price objective (up previously from $39.00) on shares of Bank of America in a research report on Thursday, April 4th. Odeon Capital Group lowered shares of Bank of America from a “buy” rating to a “hold” rating and set a $33.90 price objective on the stock. in a research note on Tuesday, January 16th. Wolfe Research raised shares of Bank of America from a “peer perform” rating to an “outperform” rating and set a $42.00 target price for the company in a research note on Friday, April 19th. Jefferies Financial Group upped their price target on Bank of America from $36.00 to $39.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Finally, Evercore ISI lifted their price objective on Bank of America from $37.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $38.70.

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.