May Barnhard Investments LLC bought a new position in shares of Bank of America Co. (NYSE:BAC – Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 39,189 shares of the financial services provider’s stock, valued at approximately $1,722,000.
Several other institutional investors have also recently bought and sold shares of BAC. Lederer & Associates Investment Counsel CA boosted its position in shares of Bank of America by 1.1% during the 4th quarter. Lederer & Associates Investment Counsel CA now owns 20,000 shares of the financial services provider’s stock valued at $879,000 after acquiring an additional 217 shares during the last quarter. Prossimo Advisors LLC raised its holdings in shares of Bank of America by 2.5% during the 4th quarter. Prossimo Advisors LLC now owns 8,880 shares of the financial services provider’s stock valued at $390,000 after buying an additional 220 shares in the last quarter. Marino Stram & Associates LLC raised its holdings in shares of Bank of America by 1.7% during the 4th quarter. Marino Stram & Associates LLC now owns 13,204 shares of the financial services provider’s stock valued at $580,000 after buying an additional 222 shares in the last quarter. Keudell Morrison Wealth Management raised its holdings in shares of Bank of America by 2.8% during the 4th quarter. Keudell Morrison Wealth Management now owns 8,291 shares of the financial services provider’s stock valued at $364,000 after buying an additional 223 shares in the last quarter. Finally, Traveka Wealth LLC raised its holdings in shares of Bank of America by 2.7% during the 4th quarter. Traveka Wealth LLC now owns 8,685 shares of the financial services provider’s stock valued at $382,000 after buying an additional 226 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.
Bank of America Trading Down 0.7 %
NYSE BAC opened at $39.64 on Friday. 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 twelve month low of $34.15 and a twelve month high of $48.08. The firm has a market capitalization of $301.40 billion, a PE ratio of 12.31, a P/E/G ratio of 1.21 and a beta of 1.32. The stock’s 50 day moving average is $45.27 and its 200 day moving average is $43.70.
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 issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.62%. The ex-dividend date is Friday, March 7th. Bank of America’s dividend payout ratio (DPR) is 32.30%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on the company. Evercore ISI decreased their price objective on Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a report on Friday, January 17th. Piper Sandler decreased their price objective on Bank of America from $50.00 to $49.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. Keefe, Bruyette & Woods raised their price objective on Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Oppenheimer raised their price objective on Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Finally, Truist Financial raised their price objective on Bank of America from $52.00 to $53.00 and gave the company a “buy” rating in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Bank of America has an average rating of “Moderate Buy” and a consensus price target of $48.64.
View Our Latest Stock Analysis on BAC
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.
Further Reading
- Five stocks we like better than Bank of America
- About the Markup Calculator
- 3 Undervalued Stocks You Can Buy at a Discount Now
- Consumer Discretionary Stocks Explained
- AMD Stock: Can the PC Refresh Cycle Spark a Rally?
- The How and Why of Investing in Gold Stocks
- Micron Stock Spikes 7%—3 Key Catalysts Behind the Move
Receive News & Ratings for Bank of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of America and related companies with MarketBeat.com's FREE daily email newsletter.