Bank of America Co. (NYSE:BAC) Shares Acquired by Brio Consultants LLC

Brio Consultants LLC raised its holdings in shares of Bank of America Co. (NYSE:BAC) by 6.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,021 shares of the financial services provider’s stock after acquiring an additional 405 shares during the period. Brio Consultants LLC’s holdings in Bank of America were worth $309,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Kennebec Savings Bank bought a new stake in Bank of America during the third quarter worth approximately $29,000. Highline Wealth Partners LLC raised its stake in shares of Bank of America by 152.7% in the 4th quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock worth $37,000 after buying an additional 510 shares in the last quarter. Christopher J. Hasenberg Inc lifted its holdings in shares of Bank of America by 525.9% in the third quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock valued at $40,000 after buying an additional 852 shares during the period. Retirement Wealth Solutions LLC bought a new position in Bank of America during the fourth quarter valued at about $42,000. Finally, Northwest Investment Counselors LLC acquired a new position in Bank of America during the third quarter worth about $45,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Price Performance

NYSE BAC opened at $46.25 on Friday. The company has a 50 day moving average price of $45.83 and a two-hundred day moving average price of $42.79. Bank of America Co. has a 12-month low of $32.35 and a 12-month high of $48.08. The stock has a market capitalization of $354.84 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of 1.27 and a beta of 1.33. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04.

Bank of America (NYSE:BAC) last released its quarterly earnings data 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. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The business had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.12 billion. During the same quarter in the previous year, the business earned $0.70 EPS. Bank of America’s quarterly revenue was up 15.0% compared to the same quarter last year. As a group, equities analysts predict that Bank of America Co. will post 3.67 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. UBS Group upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and raised their price objective for the company from $43.00 to $53.00 in a research 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 stock an “overweight” rating in a report on Friday, November 15th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $46.00 price target on shares of Bank of America in a report on Wednesday, October 9th. Barclays lifted their target price on Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, Truist Financial upped their target price on Bank of America from $52.00 to $53.00 and gave the company a “buy” rating in a report 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 issued a strong buy rating to the company’s stock. According to MarketBeat, Bank of America presently has a consensus rating of “Moderate Buy” and a consensus target price 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.