Proactive Wealth Strategies LLC Buys 237 Shares of Bank of America Co. (NYSE:BAC)

Proactive Wealth Strategies LLC increased its position in shares of Bank of America Co. (NYSE:BAC) by 3.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,329 shares of the financial services provider’s stock after buying an additional 237 shares during the period. Proactive Wealth Strategies LLC’s holdings in Bank of America were worth $278,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in BAC. Collier Financial bought a new stake in shares of Bank of America during the 4th quarter worth about $25,000. Life Planning Partners Inc grew its stake in shares of 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 valued at $25,000 after acquiring an additional 545,936 shares in the last quarter. Kennebec Savings Bank bought a new position in Bank of America during the third quarter worth about $29,000. Highline Wealth Partners LLC raised its stake in 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 worth $37,000 after purchasing an additional 510 shares in the last quarter. Finally, Retirement Wealth Solutions LLC acquired a new position in shares of Bank of America during the 4th quarter worth approximately $42,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Trading Up 1.4 %

Shares of Bank of America stock opened at $46.98 on Tuesday. Bank of America Co. has a 1 year low of $32.49 and a 1 year high of $48.08. The stock has a fifty day moving average price of $45.75 and a 200-day moving average price of $43.12. 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 firm has a market cap of $360.47 billion, a PE ratio of 14.59, a P/E/G ratio of 1.29 and a beta of 1.33.

Bank of America (NYSE:BAC) last issued its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The business had revenue of $25.30 billion for the quarter, compared to analysts’ expectations of $25.12 billion. During the same quarter in the previous year, the firm posted $0.70 EPS. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. Equities research analysts anticipate that Bank of America Co. will post 3.69 EPS for the current year.

Bank of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.04 annualized dividend and a dividend yield of 2.21%. Bank of America’s payout ratio is currently 32.30%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on BAC shares. Piper Sandler cut their price target on Bank of America from $50.00 to $49.00 and set a “neutral” rating for the company in a research note on Friday, January 17th. Keefe, Bruyette & Woods upped their target price on Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Citigroup raised shares of Bank of America from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $46.00 to $54.00 in a research report on Friday, November 8th. UBS Group raised shares of Bank of America from a “neutral” rating to a “buy” rating and raised their target price for the company from $43.00 to $53.00 in a report on Tuesday, January 7th. Finally, HSBC upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $48.58.

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.