Vise Technologies Inc. Raises Holdings in Bank of America Co. (NYSE:BAC)

Vise Technologies Inc. increased its holdings in Bank of America Co. (NYSE:BAC) by 34.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 70,317 shares of the financial services provider's stock after acquiring an additional 17,823 shares during the period. Vise Technologies Inc.'s holdings in Bank of America were worth $3,090,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Collier Financial purchased a new position in Bank of America in the fourth quarter worth approximately $25,000. Life Planning Partners Inc grew its position in 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 acquiring an additional 545,936 shares during the period. Graney & King LLC purchased a new position in Bank of America in the fourth quarter worth approximately $25,000. Fairway Wealth LLC purchased a new position in Bank of America in the fourth quarter worth approximately $29,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new position in Bank of America in the fourth quarter worth approximately $31,000. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on BAC shares. Evercore ISI decreased their price target on Bank of America from $51.00 to $48.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 1st. UBS Group upped their price target on Bank of America from $46.00 to $50.00 and gave the stock a "buy" rating in a research note on Wednesday, April 16th. Wall Street Zen cut Bank of America from a "hold" rating to a "sell" rating in a research note on Thursday. TD Cowen started coverage on Bank of America in a research note on Thursday, May 15th. They set a "buy" rating and a $53.00 price target on the stock. Finally, Baird R W upgraded Bank of America from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat.com, Bank of America currently has a consensus rating of "Moderate Buy" and a consensus price target of $47.50.

Bank of America Stock Performance

NYSE:BAC opened at $43.27 on Friday. The business's fifty day moving average price is $40.31 and its 200 day moving average price is $43.60. The firm has a market capitalization of $325.90 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 1.21 and a beta of 1.27. Bank of America Co. has a 12 month low of $33.07 and a 12 month high of $48.08. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78.

Bank of America (NYSE:BAC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.10. The company had revenue of $27.37 billion for the quarter, compared to analyst estimates of $26.83 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. On average, sell-side analysts anticipate that Bank of America Co. will post 3.7 earnings per share for the current fiscal 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 issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Friday, June 6th. Bank of America's payout ratio is 30.95%.

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.

Want to see what other hedge funds are holding BAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of America Co. (NYSE:BAC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.