Gleason Group Inc. Has $4.35 Million Holdings in Bank of America Co. (NYSE:BAC)

Gleason Group Inc. raised its position in Bank of America Co. (NYSE:BAC) by 0.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 98,957 shares of the financial services provider’s stock after purchasing an additional 523 shares during the quarter. Bank of America accounts for about 0.8% of Gleason Group Inc.’s holdings, making the stock its 16th biggest holding. Gleason Group Inc.’s holdings in Bank of America were worth $4,349,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fairway Wealth LLC acquired a new stake in shares of Bank of America during the 2nd quarter worth approximately $27,000. Kennebec Savings Bank acquired a new position in shares of Bank of America during the third quarter valued at about $29,000. Highline Wealth Partners LLC grew its stake in shares of Bank of America by 152.7% in the 4th quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock valued at $37,000 after buying an additional 510 shares during the period. Christopher J. Hasenberg Inc raised its stake in Bank of America by 525.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock worth $40,000 after buying an additional 852 shares during the period. Finally, Northwest Investment Counselors LLC bought a new position in Bank of America in the third quarter worth approximately $45,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BAC. Phillip Securities raised shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price objective on the stock in a research note on Friday, October 18th. Evercore ISI increased their price objective on Bank of America from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Citigroup raised Bank of America from a “neutral” rating to a “buy” rating and lifted their target price for the company from $46.00 to $54.00 in a research report on Friday, November 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $46.00 price target on shares of Bank of America in a research report on Wednesday, October 9th. Finally, UBS Group upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and upped their target price for the stock from $43.00 to $53.00 in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.50.

Bank of America Price Performance

Shares of NYSE:BAC opened at $45.09 on Tuesday. The company has a 50 day moving average of $45.61 and a 200 day moving average of $42.27. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.09. The stock has a market cap of $345.97 billion, a P/E ratio of 16.40, a P/E/G ratio of 1.55 and a beta of 1.33. Bank of America Co. has a 12 month low of $31.27 and a 12 month high of $48.08.

Bank of America (NYSE:BAC) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.03. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. The company had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.25 billion. During the same period in the previous year, the business earned $0.90 earnings per share. The firm’s quarterly revenue was up .4% compared to the same quarter last year. As a group, sell-side analysts forecast that Bank of America Co. will post 3.27 EPS for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 6th were given a dividend of $0.26 per share. The ex-dividend date was Friday, December 6th. This represents a $1.04 annualized dividend and a yield of 2.31%. Bank of America’s payout ratio is 37.82%.

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.