Level Four Advisory Services LLC Increases Holdings in Bank of America Corporation $BAC

Level Four Advisory Services LLC lifted its position in Bank of America Corporation (NYSE:BAC) by 5.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 182,569 shares of the financial services provider’s stock after buying an additional 8,628 shares during the period. Level Four Advisory Services LLC’s holdings in Bank of America were worth $8,639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Nova Wealth Management Inc. lifted its holdings in Bank of America by 75.2% in the second quarter. Nova Wealth Management Inc. now owns 529 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 227 shares during the period. Quaker Wealth Management LLC grew its stake in shares of Bank of America by 246.5% during the 2nd quarter. Quaker Wealth Management LLC now owns 523 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 880 shares during the period. RMG Wealth Management LLC purchased a new stake in shares of Bank of America during the 2nd quarter valued at about $28,000. CGC Financial Services LLC increased its position in shares of Bank of America by 585.4% during the 2nd quarter. CGC Financial Services LLC now owns 610 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 521 shares during the last quarter. Finally, Acima Private Wealth LLC bought a new position in shares of Bank of America in the 2nd quarter worth approximately $33,000. Institutional investors own 70.71% of the company’s stock.

Bank of America Price Performance

NYSE:BAC opened at $53.01 on Friday. The business’s 50-day simple moving average is $51.87 and its two-hundred day simple moving average is $48.69. Bank of America Corporation has a 52 week low of $33.06 and a 52 week high of $54.69. The stock has a market cap of $387.07 billion, a PE ratio of 14.44, a P/E/G ratio of 1.99 and a beta of 1.34. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.12.

Bank of America (NYSE:BAC) last released its earnings results on Wednesday, October 15th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.13. The firm had revenue of $5.35 billion during the quarter, compared to analysts’ expectations of $27.05 billion. Bank of America had a return on equity of 10.76% and a net margin of 15.70%.The firm’s revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the business posted $0.81 earnings per share. As a group, analysts forecast that Bank of America Corporation will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Friday, December 5th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Friday, December 5th. Bank of America’s dividend payout ratio (DPR) is 30.52%.

Analysts Set New Price Targets

BAC has been the subject of several recent research reports. Wall Street Zen upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a research report on Sunday, October 19th. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of America in a research note on Thursday, October 30th. Barclays upped their price objective on Bank of America from $54.00 to $59.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Dbs Bank raised Bank of America to a “moderate buy” rating in a report on Wednesday, October 22nd. Finally, Morgan Stanley lifted their target price on Bank of America from $67.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Twenty-three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $57.77.

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.