Bank of America Co. (NYSE:BAC) Shares Bought by KPP Advisory Services LLC

KPP Advisory Services LLC raised its stake in shares of Bank of America Co. (NYSE:BAC) by 1.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,879 shares of the financial services provider’s stock after purchasing an additional 450 shares during the quarter. KPP Advisory Services LLC’s holdings in Bank of America were worth $1,313,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sunesis Advisors LLC lifted its position in Bank of America by 3.2% during the 4th quarter. Sunesis Advisors LLC now owns 45,082 shares of the financial services provider’s stock worth $1,981,000 after acquiring an additional 1,394 shares during the period. CENTRAL TRUST Co increased its holdings in Bank of America by 3.2% in the 4th quarter. CENTRAL TRUST Co now owns 227,600 shares of the financial services provider’s stock worth $10,003,000 after buying an additional 7,120 shares during the period. McAdam LLC raised its position in Bank of America by 19.2% during the 4th quarter. McAdam LLC now owns 14,112 shares of the financial services provider’s stock worth $620,000 after buying an additional 2,276 shares during the last quarter. Sutton Place Investors LLC lifted its stake in Bank of America by 6.5% during the 4th quarter. Sutton Place Investors LLC now owns 7,662 shares of the financial services provider’s stock valued at $337,000 after acquiring an additional 471 shares during the period. Finally, WFA Asset Management Corp lifted its stake in Bank of America by 34.4% during the 4th quarter. WFA Asset Management Corp now owns 6,229 shares of the financial services provider’s stock valued at $274,000 after acquiring an additional 1,593 shares during the period. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Royal Bank of Canada reiterated an “outperform” rating and set a $46.00 price objective on shares of Bank of America in a research note on Wednesday, October 9th. Phillip Securities upgraded Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 target price on the stock in a research note on Friday, October 18th. Morgan Stanley lifted their price target on Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. Finally, Truist Financial upped their price objective on shares of Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $48.58.

Bank of America Stock Down 1.0 %

Shares of NYSE BAC opened at $46.25 on Monday. Bank of America Co. has a 1 year low of $32.35 and a 1 year high of $48.08. The company has a market capitalization of $354.84 billion, a P/E ratio of 14.36, a P/E/G ratio of 1.26 and a beta of 1.33. The company has a 50 day simple moving average of $45.83 and a 200-day simple moving average of $42.78. 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) last posted its earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. The company had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.70 earnings per share. On average, equities research analysts predict that Bank of America Co. will post 3.67 earnings per share for the current year.

Bank of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.25%. The ex-dividend date is Friday, March 7th. Bank of America’s dividend payout ratio (DPR) is presently 32.30%.

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.