Fiduciary Planning LLC Takes $448,000 Position in Bank of America Co. (NYSE:BAC)

Fiduciary Planning LLC bought a new position in shares of Bank of America Co. (NYSE:BAC) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 10,200 shares of the financial services provider’s stock, valued at approximately $448,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Czech National Bank lifted its position in Bank of America by 6.0% during the 3rd quarter. Czech National Bank now owns 1,375,216 shares of the financial services provider’s stock worth $54,569,000 after acquiring an additional 78,376 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Bank of America by 14.5% in the 3rd quarter. GAMMA Investing LLC now owns 94,287 shares of the financial services provider’s stock valued at $3,741,000 after buying an additional 11,909 shares during the period. WealthBridge Capital Management LLC lifted its holdings in shares of Bank of America by 22.9% in the 3rd quarter. WealthBridge Capital Management LLC now owns 8,124 shares of the financial services provider’s stock valued at $322,000 after buying an additional 1,515 shares during the period. Diversified Trust Co lifted its holdings in shares of Bank of America by 34.8% in the 3rd quarter. Diversified Trust Co now owns 162,072 shares of the financial services provider’s stock valued at $6,431,000 after buying an additional 41,877 shares during the period. Finally, Smith Anglin Financial LLC lifted its holdings in shares of Bank of America by 13.6% in the 3rd quarter. Smith Anglin Financial LLC now owns 13,007 shares of the financial services provider’s stock valued at $516,000 after buying an additional 1,561 shares during the period. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Bank of America Price Performance

BAC stock opened at $46.25 on Monday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. The business has a 50 day simple moving average of $45.83 and a 200-day simple moving average of $42.77. The firm has a market capitalization of $354.84 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of 1.26 and a beta of 1.33. Bank of America Co. has a 1 year low of $32.35 and a 1 year high of $48.08.

Bank of America (NYSE:BAC) last released its quarterly earnings data 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. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The firm had revenue of $25.30 billion for the quarter, compared to analysts’ expectations of $25.12 billion. During the same period in the prior year, the firm posted $0.70 earnings per share. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. Equities research analysts anticipate that Bank of America Co. will post 3.67 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Friday, March 7th. Bank of America’s dividend payout ratio (DPR) is 32.30%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BAC shares. Morgan Stanley boosted their price objective on Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Friday, January 17th. Evercore ISI decreased their price objective on Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a report on Friday, January 17th. HSBC raised Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Tuesday, January 7th. Barclays lifted their price target on Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, Truist Financial lifted their price target on Bank of America from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $48.58.

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.