5T Wealth LLC Makes New Investment in Bank of America Co. (NYSE:BAC)

5T Wealth LLC bought a new position in shares of Bank of America Co. (NYSE:BAC) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 4,834 shares of the financial services provider’s stock, valued at approximately $212,000.

Other institutional investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP raised its holdings in Bank of America by 19.6% in the fourth quarter. Capital Performance Advisors LLP now owns 13,695 shares of the financial services provider’s stock worth $602,000 after purchasing an additional 2,246 shares in the last quarter. Strategic Advisors LLC lifted its position in Bank of America by 13.4% during the 4th quarter. Strategic Advisors LLC now owns 31,029 shares of the financial services provider’s stock valued at $1,364,000 after acquiring an additional 3,667 shares during the period. Sierra Ocean LLC bought a new stake in Bank of America during the fourth quarter worth about $133,000. Keystone Financial Services boosted its stake in Bank of America by 3.2% during the fourth quarter. Keystone Financial Services now owns 11,328 shares of the financial services provider’s stock worth $498,000 after acquiring an additional 356 shares in the last quarter. Finally, Monument Capital Management grew its holdings in Bank of America by 17.9% in the fourth quarter. Monument Capital Management now owns 7,433 shares of the financial services provider’s stock worth $327,000 after purchasing an additional 1,126 shares during the period. Institutional investors own 70.71% of the company’s stock.

Wall Street Analyst Weigh In

BAC has been the subject of several recent research reports. Truist Financial lifted their target price on shares of Bank of America from $52.00 to $53.00 and gave the company a “buy” rating in a report on Friday, January 17th. HSBC raised Bank of America from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Tuesday, January 7th. Citigroup raised Bank of America from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $46.00 to $54.00 in a research report on Friday, November 8th. 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 note on Tuesday, January 7th. Finally, Barclays upped their target price on shares of Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $48.58.

Bank of America Stock Up 1.4 %

BAC opened at $46.98 on Monday. Bank of America Co. has a 1-year low of $32.49 and a 1-year high of $48.08. The firm’s 50 day simple moving average is $45.75 and its two-hundred day simple moving average is $43.10. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $360.47 billion, a PE ratio of 14.59, a PEG ratio of 1.29 and a beta of 1.33.

Bank of America (NYSE:BAC) last released its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.05. The company had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. Bank of America’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.70 earnings per share. As a group, equities analysts forecast that Bank of America Co. will post 3.69 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 dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date is Friday, March 7th. 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.