Transatlantique Private Wealth LLC Increases Stock Position in Bank of America Co. (NYSE:BAC)

Transatlantique Private Wealth LLC increased its position in Bank of America Co. (NYSE:BAC) by 87.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,845 shares of the financial services provider’s stock after buying an additional 12,982 shares during the period. Transatlantique Private Wealth LLC’s holdings in Bank of America were worth $1,224,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BAC. Graney & King LLC purchased a new position in shares of Bank of America in the fourth quarter valued at $25,000. Collier Financial purchased a new stake in shares of Bank of America during the 4th quarter valued at about $25,000. Fairway Wealth LLC bought a new stake in Bank of America during the fourth quarter worth approximately $29,000. Glass Jacobson Investment Advisors llc raised its position in Bank of America by 53.0% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 797 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 276 shares during the period. Finally, Highline Wealth Partners LLC boosted its holdings in shares of 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 during the period. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Price Performance

Shares of BAC opened at $37.44 on Friday. The company has a 50 day moving average of $41.27 and a two-hundred day moving average of $43.62. 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 $33.07 and a twelve month high of $48.08. The company has a market cap of $284.65 billion, a price-to-earnings ratio of 11.63, a price-to-earnings-growth ratio of 1.21 and a beta of 1.24.

Bank of America (NYSE:BAC) last announced its earnings results on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.10. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The firm had revenue of $27.37 billion for the quarter, compared to the consensus estimate of $26.83 billion. As a group, analysts predict that Bank of America Co. will post 3.7 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 7th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date was Friday, March 7th. Bank of America’s dividend payout ratio (DPR) is presently 30.95%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on BAC shares. Royal Bank of Canada dropped their price objective on shares of Bank of America from $50.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday. Piper Sandler dropped their target price on Bank of America from $45.00 to $42.00 and set a “neutral” rating for the company in a research report on Wednesday. Barclays reduced their price target on Bank of America from $58.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday. Evercore ISI dropped their price objective on Bank of America from $51.00 to $48.00 and set an “outperform” rating for the company in a report on Tuesday, April 1st. Finally, UBS Group lifted their target price on Bank of America from $46.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen 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 presently has an average rating of “Moderate Buy” and a consensus price target of $47.43.

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.