CWC Advisors LLC. Invests $250,000 in Bank of America Corporation (NYSE:BAC)

CWC Advisors LLC. acquired a new position in shares of Bank of America Corporation (NYSE:BAC) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,999 shares of the financial services provider's stock, valued at approximately $250,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC increased its position in shares of Bank of America by 30.0% during the fourth quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider's stock valued at $4,785,000 after acquiring an additional 25,143 shares in the last quarter. Bank Pictet & Cie Europe AG increased its holdings in shares of Bank of America by 35.7% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 860,005 shares of the financial services provider's stock worth $37,797,000 after purchasing an additional 226,246 shares in the last quarter. Whipplewood Advisors LLC bought a new position in shares of Bank of America during the fourth quarter valued at $57,000. Kovack Advisors Inc. raised its position in Bank of America by 13.8% in the 4th quarter. Kovack Advisors Inc. now owns 30,755 shares of the financial services provider's stock worth $1,352,000 after buying an additional 3,726 shares during the last quarter. Finally, Proficio Capital Partners LLC lifted its position in shares of Bank of America by 7,164.3% during the 4th quarter. Proficio Capital Partners LLC now owns 890,096 shares of the financial services provider's stock valued at $39,120,000 after buying an additional 877,843 shares in the last quarter. Hedge funds and other institutional investors own 70.71% of the company's stock.

Bank of America Stock Performance

Shares of NYSE:BAC opened at $47.11 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.78 and a debt-to-equity ratio of 1.11. Bank of America Corporation has a 12 month low of $33.07 and a 12 month high of $48.08. The company has a market capitalization of $354.85 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 1.28 and a beta of 1.30. The firm's 50-day moving average is $43.31 and its 200 day moving average is $43.35.

Bank of America (NYSE:BAC - Get Free Report) last announced its earnings results on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.10. Bank of America had a return on equity of 10.25% and a net margin of 14.56%. The business had revenue of $27.37 billion during the quarter, compared to analyst estimates of $26.83 billion. Research analysts predict that Bank of America Corporation will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 6th were paid a $0.26 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.04 dividend on an annualized basis and a yield of 2.21%. Bank of America's payout ratio is 30.95%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Citigroup raised their target price on shares of Bank of America from $50.00 to $54.00 and gave the stock a "buy" rating in a research note on Thursday. UBS Group upped their target price on shares of Bank of America from $46.00 to $50.00 and gave the stock a "buy" rating in a report on Wednesday, April 16th. The Goldman Sachs Group boosted their price target on Bank of America from $46.00 to $52.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Barclays lowered their target price on shares of Bank of America from $58.00 to $54.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Finally, Evercore ISI reduced their price target on shares of Bank of America from $51.00 to $48.00 and set an "outperform" rating on the stock in a report on Tuesday, April 1st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $47.65.

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.

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