11,432 Shares in Bank of America Co. (NYSE:BAC) Purchased by Park Capital Management LLC WI

Park Capital Management LLC WI acquired a new position in shares of Bank of America Co. (NYSE:BAC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,432 shares of the financial services provider’s stock, valued at approximately $502,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Collier Financial bought a new position in shares of Bank of America in the fourth quarter worth approximately $25,000. Kennebec Savings Bank bought a new position in Bank of America during the third quarter valued at approximately $29,000. Highline Wealth Partners LLC lifted its position in Bank of America by 152.7% during the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 510 shares during the period. Retirement Wealth Solutions LLC bought a new position in Bank of America during the fourth quarter valued at approximately $42,000. Finally, POM Investment Strategies LLC lifted its position in Bank of America by 1,306.5% during the fourth quarter. POM Investment Strategies LLC now owns 1,083 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 1,006 shares during the period. Institutional investors own 70.71% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on BAC. Truist Financial upped their target price on shares of Bank of America from $52.00 to $53.00 and gave the company a “buy” rating in a report on Friday, January 17th. Piper Sandler reduced their target price on shares of Bank of America from $50.00 to $49.00 and set a “neutral” rating for the company in a report on Friday, January 17th. UBS Group raised shares of Bank of America from a “neutral” rating to a “buy” rating and upped their target price for the company from $43.00 to $53.00 in a report on Tuesday, January 7th. Evercore ISI reduced their price objective on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a research note on Friday, January 17th. Finally, Hsbc Global Res raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $48.58.

Bank of America Price Performance

BAC stock opened at $46.21 on Thursday. The company has a fifty day simple moving average of $45.77 and a two-hundred day simple moving average of $43.00. The firm has a market capitalization of $354.56 billion, a P/E ratio of 14.35, a price-to-earnings-growth ratio of 1.29 and a beta of 1.33. 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 52 week low of $32.35 and a 52 week high of $48.08.

Bank of America (NYSE:BAC) last released its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.05. The firm had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.12 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The business’s revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the business earned $0.70 EPS. Analysts anticipate that Bank of America Co. will post 3.69 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be issued a $0.26 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.04 annualized dividend and a dividend yield of 2.25%. 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.