Brandywine Oak Private Wealth LLC Has $567,000 Position in Bank of America Co. (NYSE:BAC)

Brandywine Oak Private Wealth LLC increased its holdings in shares of Bank of America Co. (NYSE:BAC) by 30.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 12,898 shares of the financial services provider’s stock after purchasing an additional 2,981 shares during the period. Brandywine Oak Private Wealth LLC’s holdings in Bank of America were worth $567,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BAC. Lederer & Associates Investment Counsel CA increased its holdings in Bank of America by 1.1% in the 4th quarter. Lederer & Associates Investment Counsel CA now owns 20,000 shares of the financial services provider’s stock valued at $879,000 after buying an additional 217 shares during the period. Marino Stram & Associates LLC boosted its position in shares of Bank of America by 1.7% during the 4th quarter. Marino Stram & Associates LLC now owns 13,204 shares of the financial services provider’s stock worth $580,000 after acquiring an additional 222 shares in the last quarter. Keudell Morrison Wealth Management increased its stake in Bank of America by 2.8% in the fourth quarter. Keudell Morrison Wealth Management now owns 8,291 shares of the financial services provider’s stock valued at $364,000 after acquiring an additional 223 shares during the last quarter. Traveka Wealth LLC raised its position in Bank of America by 2.7% during the fourth quarter. Traveka Wealth LLC now owns 8,685 shares of the financial services provider’s stock valued at $382,000 after purchasing an additional 226 shares in the last quarter. Finally, Longfellow Investment Management Co. LLC lifted its stake in Bank of America by 0.6% during the third quarter. Longfellow Investment Management Co. LLC now owns 37,393 shares of the financial services provider’s stock worth $1,484,000 after purchasing an additional 227 shares during the last quarter. Institutional investors own 70.71% of the company’s stock.

Bank of America Price Performance

BAC stock opened at $47.11 on Thursday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. The company’s fifty day simple moving average is $45.79 and its 200 day simple moving average is $42.82. Bank of America Co. has a 12-month low of $32.35 and a 12-month high of $48.08. The firm has a market cap of $361.45 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 1.26 and a beta of 1.33.

Bank of America (NYSE:BAC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.77 by $0.05. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The company had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.12 billion. During the same quarter in the prior year, the company earned $0.70 EPS. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, analysts expect that Bank of America Co. will post 3.67 earnings per share for the current year.

Bank of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date is Friday, March 7th. Bank of America’s dividend payout ratio (DPR) is currently 32.30%.

Wall Street Analysts Forecast Growth

BAC has been the subject of a number of research analyst reports. Truist Financial boosted their price target on Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Royal Bank of Canada reissued an “outperform” rating and set a $46.00 target price on shares of Bank of America in a research note on Wednesday, October 9th. HSBC raised shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Tuesday, January 7th. Wells Fargo & Company raised their target price on shares of Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Phillip Securities upgraded Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price target for the company in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Bank of America presently has a consensus rating of “Moderate Buy” and an average price target of $48.58.

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.