Monograph Wealth Advisors LLC Makes New Investment in Bank of America Co. (NYSE:BAC)

Monograph Wealth Advisors LLC purchased a new stake in Bank of America Co. (NYSE:BAC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,704 shares of the financial services provider’s stock, valued at approximately $207,000.

A number of other large investors have also made changes to their positions in the company. Collier Financial acquired a new position in Bank of America in the fourth quarter valued at about $25,000. Life Planning Partners Inc lifted its holdings in shares of 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 valued at $25,000 after purchasing an additional 545,936 shares in the last quarter. Graney & King LLC acquired a new position in shares of Bank of America in the 4th quarter valued at approximately $25,000. Fairway Wealth LLC acquired a new position in shares of Bank of America in the 4th quarter valued at approximately $29,000. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new stake in Bank of America during the 4th quarter worth approximately $31,000. Institutional investors own 70.71% of the company’s stock.

Bank of America Trading Down 0.3%

Bank of America stock opened at $44.62 on Wednesday. The stock has a 50-day simple moving average of $40.23 and a 200 day simple moving average of $43.59. The stock has a market capitalization of $336.07 billion, a P/E ratio of 13.86, a PEG ratio of 1.21 and a beta of 1.27. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. Bank of America Co. has a 52 week low of $33.07 and a 52 week high of $48.08.

Bank of America (NYSE:BAC) last issued its earnings results on Tuesday, April 15th. The financial services provider reported $0.90 EPS for the quarter, topping 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 company had revenue of $27.37 billion during the quarter, compared to the consensus estimate of $26.83 billion. Analysts expect 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 disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 6th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.04 annualized dividend and a dividend yield of 2.33%. Bank of America’s dividend payout ratio is currently 30.95%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on BAC shares. Truist Financial cut their price target on shares of Bank of America from $50.00 to $47.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. Oppenheimer raised their price objective on shares of Bank of America from $50.00 to $51.00 and gave the stock an “outperform” rating in a report on Monday, April 28th. JPMorgan Chase & Co. reduced their target price on shares of Bank of America from $49.50 to $43.50 and set an “overweight” rating for the company in a research note on Thursday, April 3rd. Cfra Research increased their target price on Bank of America to $47.00 and gave the stock a “buy” rating in a report on Wednesday, April 16th. Finally, Phillip Securities raised Bank of America from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, April 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $47.50.

About Bank of America

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.