Highview Capital Management LLC DE Acquires Shares of 6,500 Bank of America Co. (NYSE:BAC)

Highview Capital Management LLC DE acquired a new stake in shares of Bank of America Co. (NYSE:BAC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 6,500 shares of the financial services provider's stock, valued at approximately $286,000.

A number of other hedge funds have also recently modified their holdings of the business. Collier Financial bought a new stake in Bank of America during the 4th quarter worth approximately $25,000. Life Planning Partners Inc increased its stake in shares of Bank of America by 3,883.2% in the fourth quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider's stock worth $25,000 after purchasing an additional 545,936 shares in the last quarter. Graney & King LLC bought a new stake in shares of Bank of America during the 4th quarter valued at $25,000. Fairway Wealth LLC purchased a new position in shares of Bank of America during the 4th quarter valued at $29,000. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new position in Bank of America in the 4th quarter worth $31,000. Institutional investors own 70.71% of the company's stock.

Analyst Upgrades and Downgrades

BAC has been the topic of a number of recent analyst reports. Cfra Research raised their price target on Bank of America to $47.00 and gave the company a "buy" rating in a report on Wednesday, April 16th. Argus decreased their target price on Bank of America from $53.00 to $47.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Oppenheimer reissued an "outperform" rating on shares of Bank of America in a report on Thursday. UBS Group increased their price objective on shares of Bank of America from $46.00 to $50.00 and gave the company a "buy" rating in a report on Wednesday, April 16th. Finally, Phillip Securities upgraded shares of Bank of America from a "moderate buy" rating to a "strong-buy" rating in a research report on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $47.50.

Bank of America Trading Down 0.3%

BAC traded down $0.11 on Monday, hitting $43.20. The company had a trading volume of 34,870,751 shares, compared to its average volume of 39,794,853. The business's fifty day simple moving average is $40.34 and its 200 day simple moving average is $43.59. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. Bank of America Co. has a 12-month low of $33.07 and a 12-month high of $48.08. The company has a market cap of $325.38 billion, a PE ratio of 13.42, a PEG ratio of 1.21 and a beta of 1.27.

Bank of America (NYSE:BAC - Get Free Report) last announced its earnings results on Tuesday, April 15th. The financial services provider reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.80 by $0.10. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The firm had revenue of $27.37 billion during the quarter, compared to analysts' expectations of $26.83 billion. Equities research analysts expect that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 6th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date is Friday, June 6th. Bank of America's dividend payout ratio (DPR) is 30.95%.

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