LaSalle St. Investment Advisors LLC Buys New Shares in Bank of America Co. (NYSE:BAC)

LaSalle St. Investment Advisors LLC purchased a new position in shares of Bank of America Co. (NYSE:BAC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,745 shares of the financial services provider’s stock, valued at approximately $208,000.

A number of other hedge funds also recently bought and sold shares of the stock. Collier Financial acquired a new stake in Bank of America in the fourth quarter valued at $25,000. Life Planning Partners Inc increased its holdings in shares of Bank of America by 3,883.2% in the 4th quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 545,936 shares during the last quarter. Graney & King LLC acquired a new stake in shares of Bank of America during the 4th quarter worth about $25,000. Fairway Wealth LLC purchased a new stake in Bank of America during the fourth quarter worth approximately $29,000. Finally, Glass Jacobson Investment Advisors llc boosted its holdings in Bank of America by 53.0% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 797 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 276 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Price Performance

Shares of NYSE:BAC opened at $38.03 on Wednesday. Bank of America Co. has a 52 week low of $33.07 and a 52 week high of $48.08. The company has a 50-day moving average price of $41.85 and a 200 day moving average price of $43.66. The company has a market cap of $289.16 billion, a P/E ratio of 11.81, a PEG ratio of 1.21 and a beta of 1.24. 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 posted its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.80 by $0.10. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The business had revenue of $27.37 billion during the quarter, compared to analysts’ expectations of $26.83 billion. Research analysts predict that Bank of America Co. will post 3.7 earnings per share for the current year.

Bank of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were paid a dividend of $0.26 per share. The ex-dividend date was Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.73%. Bank of America’s dividend payout ratio (DPR) is presently 32.30%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Citigroup cut their price objective on shares of Bank of America from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Morgan Stanley boosted their price target on shares of Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. Baird R W raised Bank of America from a “hold” rating to a “strong-buy” rating in a report on Friday, March 7th. UBS Group raised Bank of America from a “neutral” rating to a “buy” rating and boosted their target price for the company from $43.00 to $53.00 in a report on Tuesday, January 7th. Finally, Piper Sandler cut their price target on Bank of America from $50.00 to $49.00 and set a “neutral” rating on the stock in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, Bank of America has a consensus rating of “Moderate Buy” and a consensus price target of $48.31.

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.