M Holdings Securities Inc. Has $1.14 Million Stock Position in Bank of America Co. (NYSE:BAC)

M Holdings Securities Inc. reduced its position in shares of Bank of America Co. (NYSE:BAC) by 1.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,848 shares of the financial services provider’s stock after selling 514 shares during the period. M Holdings Securities Inc.’s holdings in Bank of America were worth $1,136,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. AGP Franklin LLC acquired a new stake in shares of Bank of America in the fourth quarter valued at about $1,551,000. Ontario Teachers Pension Plan Board boosted its stake in Bank of America by 71,357.5% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 8,632,780 shares of the financial services provider’s stock valued at $379,411,000 after purchasing an additional 8,620,699 shares during the period. Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in Bank of America in the 4th quarter valued at approximately $12,507,000. LaSalle St. Investment Advisors LLC bought a new position in Bank of America in the 4th quarter worth approximately $208,000. Finally, Belpointe Asset Management LLC lifted its holdings in shares of Bank of America by 14.8% during the fourth quarter. Belpointe Asset Management LLC now owns 47,324 shares of the financial services provider’s stock worth $1,928,000 after buying an additional 6,088 shares during the last quarter. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BAC has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of Bank of America from $49.50 to $43.50 and set an “overweight” rating on the stock in a research note on Thursday, April 3rd. Hsbc Global Res upgraded shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Truist Financial cut their price objective on shares of Bank of America from $53.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, April 4th. Citigroup decreased their target price on Bank of America from $54.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Finally, Barclays upped their price target on Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $48.31.

Bank of America Trading Up 1.9 %

BAC stock opened at $36.64 on Tuesday. The business has a fifty day moving average of $42.04 and a 200-day moving average of $43.70. The company has a market cap of $278.57 billion, a P/E ratio of 11.38, a PEG ratio of 1.21 and a beta of 1.24. Bank of America Co. has a twelve month low of $33.07 and a twelve month high of $48.08. 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 (NYSE:BAC) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.77 by $0.05. The company had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.12 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. Bank of America’s revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.70 EPS. As a group, equities research analysts expect that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were paid a $0.26 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.84%. Bank of America’s dividend payout ratio (DPR) is presently 32.30%.

About Bank of America

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.