Bryn Mawr Capital Management LLC Purchases 1,220 Shares of Bank of America Co. (NYSE:BAC)

Bryn Mawr Capital Management LLC grew its position in Bank of America Co. (NYSE:BAC) by 2.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,439 shares of the financial services provider’s stock after purchasing an additional 1,220 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Bank of America were worth $2,568,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Accent Capital Management LLC lifted its position in shares of Bank of America by 43.0% during the 3rd quarter. Accent Capital Management LLC now owns 39,500 shares of the financial services provider’s stock worth $1,567,000 after buying an additional 11,873 shares in the last quarter. Summit Global Investments lifted its holdings in Bank of America by 237.6% during the third quarter. Summit Global Investments now owns 51,278 shares of the financial services provider’s stock worth $2,035,000 after acquiring an additional 36,089 shares during the period. Geode Capital Management LLC boosted its position in Bank of America by 1.2% in the third quarter. Geode Capital Management LLC now owns 140,255,970 shares of the financial services provider’s stock worth $5,546,871,000 after purchasing an additional 1,700,141 shares during the last quarter. Clarendon Private LLC bought a new position in Bank of America in the 4th quarter valued at $798,000. Finally, Baker Avenue Asset Management LP increased its position in shares of Bank of America by 125.8% during the 3rd quarter. Baker Avenue Asset Management LP now owns 61,002 shares of the financial services provider’s stock valued at $2,421,000 after purchasing an additional 33,983 shares during the last quarter. 70.71% of the stock is owned by institutional investors.

Bank of America Stock Performance

NYSE BAC opened at $43.96 on Thursday. The company’s 50 day simple moving average is $45.72 and its two-hundred day simple moving average is $43.50. The stock has a market capitalization of $337.28 billion, a PE ratio of 13.65, a P/E/G ratio of 1.21 and a beta of 1.33. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. Bank of America Co. has a 1 year low of $33.71 and a 1 year high of $48.08.

Bank of America (NYSE:BAC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, topping the consensus estimate 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 business had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.12 billion. During the same period in the previous year, the business earned $0.70 earnings per share. The firm’s revenue was up 15.0% on a year-over-year basis. Analysts predict that Bank of America Co. will post 3.7 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The business also recently announced 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 yield of 2.37%. The ex-dividend date of this dividend is Friday, March 7th. Bank of America’s dividend payout ratio is currently 32.30%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BAC. Truist Financial increased 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. Hsbc Global Res raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Evercore ISI lowered their price target on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a report on Friday, January 17th. Barclays increased their price objective on Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, Citigroup raised Bank of America from a “neutral” rating to a “buy” rating and raised their target price for the stock from $46.00 to $54.00 in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.