Bank of America Co. (NYSE:BAC) Shares Bought by Forbes J M & Co. LLP

Forbes J M & Co. LLP boosted its stake in Bank of America Co. (NYSE:BAC) by 0.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 437,909 shares of the financial services provider’s stock after buying an additional 1,672 shares during the period. Bank of America accounts for 1.9% of Forbes J M & Co. LLP’s portfolio, making the stock its 13th biggest holding. Forbes J M & Co. LLP’s holdings in Bank of America were worth $19,246,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Boston Common Asset Management LLC lifted its stake in Bank of America by 143.0% during the third quarter. Boston Common Asset Management LLC now owns 144,980 shares of the financial services provider’s stock valued at $5,753,000 after purchasing an additional 85,308 shares during the last quarter. Watts Gwilliam & Co. LLC acquired a new position in shares of Bank of America in the 3rd quarter worth $2,500,000. Christopher J. Hasenberg Inc lifted its holdings in shares of Bank of America by 525.9% during the third quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 852 shares during the last quarter. Clarius Group LLC increased its stake in Bank of America by 1.1% in the 3rd quarter. Clarius Group LLC now owns 61,916 shares of the financial services provider’s stock worth $2,442,000 after purchasing an additional 659 shares in the last quarter. Finally, Franklin Street Advisors Inc. NC lifted its position in shares of Bank of America by 22.4% in the 3rd quarter. Franklin Street Advisors Inc. NC now owns 11,432 shares of the financial services provider’s stock valued at $454,000 after acquiring an additional 2,089 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 %

Bank of America stock opened at $47.43 on Friday. Bank of America Co. has a 12 month low of $32.35 and a 12 month high of $48.08. The stock has a market cap of $363.89 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 1.29 and a beta of 1.33. The business has a 50 day moving average price of $45.77 and a two-hundred day moving average price of $42.88. 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 released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. The company had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period last year, the firm earned $0.70 EPS. As a group, equities analysts forecast that Bank of America Co. will post 3.69 EPS for the current year.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Friday, March 7th. Bank of America’s dividend payout ratio (DPR) is 32.30%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Truist Financial increased their target price on Bank of America from $52.00 to $53.00 and gave the company a “buy” rating in a report on Friday, January 17th. UBS Group upgraded Bank of America from a “neutral” rating to a “buy” rating and upped their target price for the company from $43.00 to $53.00 in a report on Tuesday, January 7th. StockNews.com upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Keefe, Bruyette & Woods lifted their target price on shares of Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Finally, Wells Fargo & Company upped their price target on shares of Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $48.58.

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.