Mascoma Wealth Management LLC Acquires 361 Shares of Bank of America Co. (NYSE:BAC)

Mascoma Wealth Management LLC raised its holdings in shares of Bank of America Co. (NYSE:BAC) by 68.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 890 shares of the financial services provider’s stock after acquiring an additional 361 shares during the period. Mascoma Wealth Management LLC’s holdings in Bank of America were worth $39,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in BAC. Lederer & Associates Investment Counsel CA grew its holdings in shares of Bank of America by 1.1% in the 4th quarter. Lederer & Associates Investment Counsel CA now owns 20,000 shares of the financial services provider’s stock valued at $879,000 after buying an additional 217 shares during the period. Prossimo Advisors LLC grew its holdings in shares of Bank of America by 2.5% in the 4th quarter. Prossimo Advisors LLC now owns 8,880 shares of the financial services provider’s stock valued at $390,000 after buying an additional 220 shares during the period. Marino Stram & Associates LLC grew its holdings in shares of Bank of America by 1.7% in the 4th quarter. Marino Stram & Associates LLC now owns 13,204 shares of the financial services provider’s stock valued at $580,000 after buying an additional 222 shares during the period. Keudell Morrison Wealth Management grew its holdings in shares of Bank of America by 2.8% in the 4th quarter. Keudell Morrison Wealth Management now owns 8,291 shares of the financial services provider’s stock valued at $364,000 after buying an additional 223 shares during the period. Finally, Traveka Wealth LLC grew its holdings in shares of Bank of America by 2.7% in the 4th quarter. Traveka Wealth LLC now owns 8,685 shares of the financial services provider’s stock valued at $382,000 after buying an additional 226 shares during the period. Institutional investors own 70.71% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Robert W. Baird raised shares of Bank of America from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $45.00 to $50.00 in a report on Friday, March 7th. Morgan Stanley upped their target price on shares of Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note 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 note on Tuesday, January 7th. Piper Sandler reduced their target price on shares of Bank of America from $50.00 to $49.00 and set a “neutral” rating for the company in a research note on Friday, January 17th. Finally, Baird R W raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Bank of America presently has an average rating of “Moderate Buy” and a consensus price target of $48.64.

Bank of America Stock Up 0.7 %

Shares of BAC stock opened at $39.90 on Thursday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. The firm’s 50-day moving average is $45.36 and its 200-day moving average is $43.73. The stock has a market cap of $303.40 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 1.21 and a beta of 1.32. Bank of America Co. has a 52-week low of $34.15 and a 52-week high of $48.08.

Bank of America (NYSE:BAC) last issued its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. The company had revenue of $25.30 billion for the quarter, compared to analysts’ expectations of $25.12 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. Bank of America’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.70 EPS. Sell-side analysts predict that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.61%. Bank of America’s payout ratio is 32.30%.

Bank of America 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.