Evelyn Partners Investment Management Europe Ltd Buys 19,713 Shares of Bank of America Corporation $BAC

Evelyn Partners Investment Management Europe Ltd increased its stake in Bank of America Corporation (NYSE:BAC) by 1,877.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,763 shares of the financial services provider’s stock after purchasing an additional 19,713 shares during the period. Bank of America makes up 1.1% of Evelyn Partners Investment Management Europe Ltd’s holdings, making the stock its 22nd biggest holding. Evelyn Partners Investment Management Europe Ltd’s holdings in Bank of America were worth $983,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC boosted its position in shares of Bank of America by 30.0% during the 4th quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider’s stock worth $4,785,000 after acquiring an additional 25,143 shares in the last quarter. Machina Capital S.A.S. boosted its holdings in shares of Bank of America by 94.6% in the 1st quarter. Machina Capital S.A.S. now owns 24,387 shares of the financial services provider’s stock valued at $1,018,000 after purchasing an additional 11,858 shares in the last quarter. Avantax Advisory Services Inc. increased its stake in shares of Bank of America by 5.8% in the 1st quarter. Avantax Advisory Services Inc. now owns 458,944 shares of the financial services provider’s stock valued at $19,152,000 after purchasing an additional 25,163 shares during the last quarter. Nicholas Wealth LLC. increased its stake in shares of Bank of America by 4.9% in the 1st quarter. Nicholas Wealth LLC. now owns 27,404 shares of the financial services provider’s stock valued at $1,144,000 after purchasing an additional 1,285 shares during the last quarter. Finally, Assetmark Inc. raised its holdings in shares of Bank of America by 11.0% during the 1st quarter. Assetmark Inc. now owns 1,056,068 shares of the financial services provider’s stock worth $44,070,000 after buying an additional 104,768 shares in the last quarter. Institutional investors own 70.71% of the company’s stock.

Bank of America Trading Up 1.1%

BAC opened at $51.54 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.79 and a quick ratio of 0.79. Bank of America Corporation has a fifty-two week low of $33.06 and a fifty-two week high of $54.69. The company’s 50 day moving average price is $51.76 and its two-hundred day moving average price is $48.38. The firm has a market capitalization of $376.37 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 1.99 and a beta of 1.34.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.13. Bank of America had a net margin of 15.70% and a return on equity of 10.76%. The company had revenue of $5.35 billion for the quarter, compared to analyst estimates of $27.05 billion. During the same quarter in the previous year, the business earned $0.81 earnings per share. Bank of America’s revenue was up 10.8% compared to the same quarter last year. As a group, research analysts predict that Bank of America Corporation will post 3.7 earnings per share for the current year.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Friday, December 5th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Friday, December 5th. Bank of America’s payout ratio is 30.52%.

Wall Street Analyst Weigh In

BAC has been the topic of a number of recent analyst reports. Oppenheimer decreased their target price on Bank of America from $57.00 to $55.00 and set an “outperform” rating on the stock in a research report on Wednesday. Wells Fargo & Company upped their price objective on shares of Bank of America from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Piper Sandler increased their price objective on shares of Bank of America from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, October 16th. Morgan Stanley boosted their target price on shares of Bank of America from $67.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Bank of America from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Twenty-three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Bank of America currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.77.

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.