Regent Peak Wealth Advisors LLC Raises Stock Holdings in Bank of America Co. (NYSE:BAC)

Regent Peak Wealth Advisors LLC raised its position in shares of Bank of America Co. (NYSE:BAC) by 10.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,971 shares of the financial services provider’s stock after buying an additional 1,116 shares during the period. Regent Peak Wealth Advisors LLC’s holdings in Bank of America were worth $526,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in BAC. Accent Capital Management LLC boosted its holdings in shares of Bank of America by 43.0% during the third quarter. Accent Capital Management LLC now owns 39,500 shares of the financial services provider’s stock worth $1,567,000 after purchasing an additional 11,873 shares during the period. Summit Global Investments lifted its holdings in Bank of America by 237.6% in 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 lifted its holdings in Bank of America by 1.2% in 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. Baker Avenue Asset Management LP grew its position in shares of Bank of America by 125.8% in 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 last quarter. Finally, Copley Financial Group Inc. purchased a new position in shares of Bank of America during the third quarter valued at approximately $550,000. Institutional investors own 70.71% of the company’s stock.

Insider Transactions at Bank of America

In other news, major shareholder Berkshire Hathaway Inc sold 8,694,538 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $42.55, for a total transaction of $369,952,591.90. Following the transaction, the insider now directly owns 766,305,462 shares of the company’s stock, valued at $32,606,297,408.10. This represents a 1.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.29% of the company’s stock.

Bank of America Stock Up 1.7 %

Bank of America stock traded up $0.76 during trading hours on Tuesday, hitting $46.16. The stock had a trading volume of 18,136,039 shares, compared to its average volume of 24,323,910. The stock’s 50-day moving average price is $45.23 and its 200-day moving average price is $42.04. Bank of America Co. has a 12-month low of $31.27 and a 12-month high of $48.08. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $354.18 billion, a P/E ratio of 16.79, a price-to-earnings-growth ratio of 1.55 and a beta of 1.33.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.03. The business had revenue of $25.30 billion for the quarter, compared to analysts’ expectations of $25.25 billion. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. The firm’s quarterly revenue was up .4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.90 EPS. Equities research analysts anticipate that Bank of America Co. will post 3.27 EPS for the current fiscal year.

Bank of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 6th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Friday, December 6th. Bank of America’s dividend payout ratio is currently 37.82%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BAC. StockNews.com raised Bank of America from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Oppenheimer dropped their target price on shares of Bank of America from $57.00 to $54.00 and set an “outperform” rating for the company in a research report on Friday. UBS Group upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and boosted their price target for the company from $43.00 to $53.00 in a research report on Tuesday. Phillip Securities upgraded shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price objective for the company in a report on Friday, October 18th. Finally, Piper Sandler upped their target price on Bank of America from $44.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.50.

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.