Onefund LLC Purchases 505 Shares of Bank of America Co. (NYSE:BAC)

Onefund LLC boosted its position in shares of Bank of America Co. (NYSE:BAC) by 2.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,239 shares of the financial services provider’s stock after purchasing an additional 505 shares during the quarter. Bank of America comprises 0.8% of Onefund LLC’s holdings, making the stock its 25th biggest position. Onefund LLC’s holdings in Bank of America were worth $802,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Accent Capital Management LLC grew its position in shares of Bank of America by 43.0% during the 3rd quarter. Accent Capital Management LLC now owns 39,500 shares of the financial services provider’s stock worth $1,567,000 after buying an additional 11,873 shares during the period. Summit Global Investments grew its position in shares of Bank of America by 237.6% during the 3rd quarter. Summit Global Investments now owns 51,278 shares of the financial services provider’s stock worth $2,035,000 after buying an additional 36,089 shares during the period. Geode Capital Management LLC grew its position in shares of Bank of America by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 140,255,970 shares of the financial services provider’s stock worth $5,546,871,000 after buying an additional 1,700,141 shares during the period. Clarendon Private LLC acquired a new position in shares of Bank of America during the 4th quarter worth about $798,000. Finally, Baker Avenue Asset Management LP grew its position in shares of Bank of America by 125.8% during the 3rd quarter. Baker Avenue Asset Management LP now owns 61,002 shares of the financial services provider’s stock worth $2,421,000 after buying an additional 33,983 shares during the period. 70.71% of the stock is owned by institutional investors.

Bank of America Stock Performance

Shares of Bank of America stock opened at $46.19 on Friday. The business’s fifty day simple moving average is $45.78 and its 200 day simple moving average is $43.56. The firm has a market capitalization of $354.37 billion, a P/E ratio of 14.34, a price-to-earnings-growth ratio of 1.21 and a beta of 1.33. Bank of America Co. has a 12 month low of $34.03 and a 12 month high of $48.08. 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 issued its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.05. The firm had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The business’s revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.70 earnings per share. As a group, analysts anticipate that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.04 annualized dividend and a dividend yield of 2.25%. Bank of America’s payout ratio is presently 32.30%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BAC. Hsbc Global Res upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Piper Sandler decreased their price objective on Bank of America from $50.00 to $49.00 and set a “neutral” rating for the company in a research report on Friday, January 17th. UBS Group upgraded Bank of America from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $43.00 to $53.00 in a research report on Tuesday, January 7th. Barclays boosted their price objective on Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Finally, Citigroup upgraded Bank of America from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $46.00 to $54.00 in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.