Marcum Wealth LLC Has $1.68 Million Holdings in Bank of America Co. (NYSE:BAC)

Marcum Wealth LLC increased its position in Bank of America Co. (NYSE:BAC) by 3.6% in the fourth quarter, HoldingsChannel reports. The firm owned 38,279 shares of the financial services provider’s stock after acquiring an additional 1,333 shares during the period. Marcum Wealth LLC’s holdings in Bank of America were worth $1,682,000 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. Traveka Wealth LLC increased 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 worth $382,000 after buying an additional 226 shares during the last quarter. Longfellow Investment Management Co. LLC lifted its position in shares of Bank of America by 0.6% in the third quarter. Longfellow Investment Management Co. LLC now owns 37,393 shares of the financial services provider’s stock valued at $1,484,000 after buying an additional 227 shares during the last quarter. Beacon Investment Advisory Services Inc. boosted its stake in shares of Bank of America by 1.1% during the 3rd quarter. Beacon Investment Advisory Services Inc. now owns 20,863 shares of the financial services provider’s stock worth $828,000 after acquiring an additional 231 shares during the period. Integrity Financial Corp WA grew its stake in Bank of America by 1.6% in the 3rd quarter. Integrity Financial Corp WA now owns 14,875 shares of the financial services provider’s stock valued at $590,000 after buying an additional 240 shares during the last quarter. Finally, Cahill Financial Advisors Inc. lifted its position in Bank of America by 2.1% during the third quarter. Cahill Financial Advisors Inc. now owns 12,231 shares of the financial services provider’s stock worth $485,000 after acquiring an additional 249 shares during the last quarter. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BAC shares. UBS Group raised 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 research report on Tuesday, January 7th. Hsbc Global Res raised Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. HSBC upgraded Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Tuesday, January 7th. Evercore ISI boosted their target price on shares of Bank of America from $44.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Truist Financial began coverage on shares of Bank of America in a research report on Tuesday, January 7th. They set a “buy” rating and a $52.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $47.50.

Bank of America Trading Down 0.0 %

Shares of BAC stock opened at $45.09 on Tuesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.80 and a current ratio of 0.80. Bank of America Co. has a fifty-two week low of $31.27 and a fifty-two week high of $48.08. The company has a market cap of $345.97 billion, a PE ratio of 16.40, a P/E/G ratio of 1.55 and a beta of 1.33. The stock’s fifty day moving average price is $45.61 and its two-hundred day moving average price is $42.27.

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 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 analyst estimates of $25.25 billion. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. Bank of America’s revenue was up .4% compared to the same quarter last year. During the same period last year, the firm posted $0.90 earnings per share. Equities analysts predict that Bank of America Co. will post 3.27 EPS for the current fiscal year.

Bank of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 6th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend was Friday, December 6th. Bank of America’s dividend payout ratio (DPR) is presently 37.82%.

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.