Omnia Family Wealth LLC Has $849,000 Stake in Bank of America Corporation (NYSE:BAC)

Omnia Family Wealth LLC grew its holdings in shares of Bank of America Corporation (NYSE:BAC) by 7.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,352 shares of the financial services provider’s stock after purchasing an additional 1,325 shares during the period. Bank of America comprises 0.4% of Omnia Family Wealth LLC’s holdings, making the stock its 26th largest holding. Omnia Family Wealth LLC’s holdings in Bank of America were worth $849,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Graney & King LLC bought a new position in Bank of America during the 4th quarter worth $25,000. Fairway Wealth LLC acquired a new position in Bank of America in the fourth quarter valued at about $29,000. Vega Investment Solutions bought a new stake in Bank of America during the fourth quarter worth about $30,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in Bank of America during the fourth quarter worth about $31,000. Finally, Spurstone Advisory Services LLC acquired a new stake in Bank of America during the fourth quarter worth about $34,000. 70.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BAC has been the subject of several analyst reports. The Goldman Sachs Group boosted their target price on shares of Bank of America from $46.00 to $52.00 and gave the company a “buy” rating in a research report on Tuesday, June 10th. Royal Bank Of Canada lowered their price objective on shares of Bank of America from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, April 16th. Truist Financial cut their target price on Bank of America from $50.00 to $47.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Barclays lowered their price target on Bank of America from $58.00 to $54.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Finally, Robert W. Baird raised Bank of America from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $45.00 to $50.00 in a research note on Friday, March 7th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, nineteen have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $47.40.

Bank of America Price Performance

Shares of NYSE:BAC opened at $46.85 on Thursday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.78 and a current ratio of 0.79. Bank of America Corporation has a 52 week low of $33.07 and a 52 week high of $48.08. The firm has a market cap of $352.87 billion, a PE ratio of 13.94, a price-to-earnings-growth ratio of 1.26 and a beta of 1.30. The firm’s fifty day moving average is $42.91 and its 200-day moving average is $43.33.

Bank of America (NYSE:BAC) last announced 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 10.25% and a net margin of 14.56%. The firm had revenue of $27.37 billion for the quarter, compared to the consensus estimate of $26.83 billion. Sell-side analysts predict that Bank of America Corporation 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. Investors of record on Friday, June 6th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Friday, June 6th. Bank of America’s dividend payout ratio is currently 30.95%.

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.