Bank of America Co. (NYSE:BAC) Shares Bought by Boston Financial Mangement LLC

Boston Financial Mangement LLC increased its position in Bank of America Co. (NYSE:BAC) by 3.9% in the 4th quarter, Holdings Channel reports. The firm owned 68,548 shares of the financial services provider’s stock after buying an additional 2,542 shares during the period. Boston Financial Mangement LLC’s holdings in Bank of America were worth $3,013,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. Collier Financial acquired a new stake in shares of Bank of America in the fourth quarter valued at approximately $25,000. Life Planning Partners Inc boosted its stake in 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 purchasing an additional 545,936 shares during the period. Kennebec Savings Bank purchased a new position in Bank of America during the 3rd quarter worth $29,000. Highline Wealth Partners LLC increased its stake in Bank of America by 152.7% in the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 510 shares during the period. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of Bank of America in the fourth quarter valued at about $42,000. 70.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BAC has been the topic of several recent research reports. Hsbc Global Res upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Piper Sandler decreased their price target on Bank of America from $50.00 to $49.00 and set a “neutral” rating for the company in a report on Friday, January 17th. Truist Financial boosted their price objective on shares of Bank of America from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, January 17th. HSBC raised shares of 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. Finally, Oppenheimer raised their price objective on shares of Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $48.58.

Bank of America Trading Down 1.1 %

Bank of America stock opened at $46.03 on Thursday. The stock has a 50-day moving average price of $45.79 and a 200 day moving average price of $43.25. Bank of America Co. has a 52 week low of $33.17 and a 52 week high of $48.08. The stock has a market cap of $353.14 billion, a PE ratio of 14.29, a P/E/G ratio of 1.26 and a beta of 1.33. 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 issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. The business had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.70 earnings per share. Equities research analysts predict that Bank of America Co. will post 3.69 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The firm also recently declared 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 dividend yield of 2.26%. The ex-dividend date is Friday, March 7th. Bank of America’s dividend payout ratio is presently 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.