Bank of America Co. (NYSE:BAC) Shares Acquired by First Command Advisory Services Inc.

First Command Advisory Services Inc. boosted its holdings in Bank of America Co. (NYSE:BAC) by 8.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,657 shares of the financial services provider’s stock after acquiring an additional 2,019 shares during the period. First Command Advisory Services Inc.’s holdings in Bank of America were worth $1,128,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Collier Financial purchased a new position in shares of Bank of America during the fourth quarter valued at approximately $25,000. Life Planning Partners Inc lifted its holdings in shares of Bank of America by 3,883.2% during the 4th quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 545,936 shares during the period. Kennebec Savings Bank purchased a new stake in Bank of America in the third quarter valued at approximately $29,000. Highline Wealth Partners LLC increased its position in Bank of America by 152.7% during the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 510 shares during the last quarter. Finally, Retirement Wealth Solutions LLC acquired a new position in shares of Bank of America in the 4th quarter valued at $42,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Analyst Ratings Changes

BAC has been the topic of several research reports. Morgan Stanley increased their target price on Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. Barclays lifted their price objective on Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Evercore ISI dropped their target price on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a research report on Friday, January 17th. Truist Financial lifted their price target on shares of Bank of America from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Finally, Hsbc Global Res upgraded shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $48.58.

Bank of America Stock Up 0.0 %

NYSE:BAC opened at $43.96 on Thursday. The firm has a market capitalization of $337.28 billion, a PE ratio of 13.65, a price-to-earnings-growth ratio of 1.21 and a beta of 1.33. The stock has a 50 day moving average of $45.72 and a 200-day moving average of $43.50. Bank of America Co. has a 52 week low of $33.71 and a 52 week 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 released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The company had revenue of $25.30 billion for the quarter, compared to analysts’ expectations of $25.12 billion. During the same quarter in the previous year, the company posted $0.70 earnings per share. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. Analysts predict that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.04 annualized dividend and a dividend yield of 2.37%. Bank of America’s dividend payout ratio (DPR) is 32.30%.

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.