1,308 Shares in Bank of America Co. (NYSE:BAC) Bought by Whipplewood Advisors LLC

Whipplewood Advisors LLC acquired a new position in shares of Bank of America Co. (NYSE:BAC) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 1,308 shares of the financial services provider’s stock, valued at approximately $57,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Collier Financial bought a new position in shares of Bank of America during the 4th quarter worth about $25,000. Kennebec Savings Bank bought a new position in shares of Bank of America during the 3rd quarter worth about $29,000. Highline Wealth Partners LLC increased its holdings in shares of Bank of America by 152.7% during 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. Retirement Wealth Solutions LLC bought a new position in shares of Bank of America during the 4th quarter worth about $42,000. Finally, POM Investment Strategies LLC increased its holdings in shares of Bank of America by 1,306.5% during the 4th quarter. POM Investment Strategies LLC now owns 1,083 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 1,006 shares during the period. Institutional investors own 70.71% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on BAC. Citigroup upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $46.00 to $54.00 in a report on Friday, November 8th. Truist Financial upped their target price on shares of Bank of America from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Oppenheimer upped their target price on shares of Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Barclays upped their target price on shares of Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, Morgan Stanley upped their target price on shares of Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued 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 target price of $48.58.

Bank of America Price Performance

Shares of BAC stock opened at $46.19 on Friday. Bank of America Co. has a 1 year low of $34.03 and a 1 year high of $48.08. The firm’s 50 day moving average is $45.78 and its 200-day moving average is $43.56. The firm has a market capitalization of $354.37 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 1.21 and a beta of 1.33. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04.

Bank of America (NYSE:BAC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The company had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.12 billion. During the same period in the prior year, the business earned $0.70 earnings per share. Bank of America’s quarterly revenue was up 15.0% on a year-over-year basis. Sell-side analysts forecast that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be given a dividend of $0.26 per share. The ex-dividend date is Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.25%. Bank of America’s payout ratio is 32.30%.

About Bank of America

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.