waypoint wealth counsel Purchases 359 Shares of Bank of America Corporation (NYSE:BAC)

waypoint wealth counsel grew its position in Bank of America Corporation (NYSE:BAC) by 4.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,775 shares of the financial services provider’s stock after purchasing an additional 359 shares during the quarter. waypoint wealth counsel’s holdings in Bank of America were worth $324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Graney & King LLC bought a new position in Bank of America in the 4th quarter worth $25,000. Fairway Wealth LLC bought a new position in shares of Bank of America in the fourth quarter worth about $29,000. Vega Investment Solutions bought a new position in shares of Bank of America in the fourth quarter worth about $30,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Bank of America in the fourth quarter worth about $31,000. Finally, Spurstone Advisory Services LLC bought a new position in shares of Bank of America in the fourth quarter worth about $34,000. 70.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on BAC. UBS Group upped their price target on Bank of America from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, April 16th. Piper Sandler dropped their target price on shares of Bank of America from $45.00 to $42.00 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. The Goldman Sachs Group upped their target price on shares of Bank of America from $46.00 to $52.00 and gave the stock a “buy” rating in a research report on Tuesday, June 10th. JPMorgan Chase & Co. dropped their target price on shares of Bank of America from $49.50 to $43.50 and set an “overweight” rating for the company in a research report on Thursday, April 3rd. Finally, Barclays dropped their price objective on shares of Bank of America from $58.00 to $54.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, nineteen have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Bank of America currently has an average rating of “Moderate Buy” and a consensus target price of $47.40.

Bank of America Stock Up 0.8%

Shares of NYSE BAC opened at $46.66 on Wednesday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.79 and a quick ratio of 0.78. The company has a market cap of $351.46 billion, a P/E ratio of 13.89, a PEG ratio of 1.26 and a beta of 1.30. Bank of America Corporation has a 1 year low of $33.07 and a 1 year high of $48.08. The firm has a 50-day simple moving average of $42.72 and a two-hundred day simple moving average of $43.30.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.10. Bank of America had a return on equity of 10.25% and a net margin of 14.56%. The firm had revenue of $27.37 billion during the quarter, compared to analyst estimates of $26.83 billion. Research analysts anticipate that Bank of America Corporation will post 3.7 earnings per share for the current year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 6th will be given a dividend of $0.26 per share. The ex-dividend date is Friday, June 6th. This represents a $1.04 annualized dividend and a dividend yield of 2.23%. Bank of America’s dividend payout ratio (DPR) is 30.95%.

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.