Quotient Wealth Partners LLC Buys 1,538 Shares of Bank of America Co. (NYSE:BAC)

Quotient Wealth Partners LLC raised its stake in Bank of America Co. (NYSE:BAC) by 4.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,571 shares of the financial services provider’s stock after acquiring an additional 1,538 shares during the period. Quotient Wealth Partners LLC’s holdings in Bank of America were worth $1,695,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of Bank of America by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 140,255,970 shares of the financial services provider’s stock worth $5,546,871,000 after acquiring an additional 1,700,141 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Bank of America by 4.0% in the third quarter. Fisher Asset Management LLC now owns 45,215,832 shares of the financial services provider’s stock worth $1,794,164,000 after acquiring an additional 1,731,003 shares during the last quarter. Sanders Capital LLC lifted its stake in Bank of America by 2.8% in the 3rd quarter. Sanders Capital LLC now owns 22,341,213 shares of the financial services provider’s stock valued at $886,499,000 after purchasing an additional 601,211 shares during the last quarter. Diamond Hill Capital Management Inc. grew its stake in shares of Bank of America by 0.4% during the third quarter. Diamond Hill Capital Management Inc. now owns 17,042,952 shares of the financial services provider’s stock worth $676,264,000 after buying an additional 59,853 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Bank of America by 1.8% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 15,857,556 shares of the financial services provider’s stock valued at $696,940,000 after acquiring an additional 285,117 shares during the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America Price Performance

BAC opened at $47.43 on Friday. The stock has a market capitalization of $363.89 billion, a P/E ratio of 14.73, a PEG ratio of 1.29 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 Co. has a 12-month low of $32.35 and a 12-month high of $48.08. The stock has a 50-day moving average price of $45.77 and a 200-day moving average price of $42.92.

Bank of America (NYSE:BAC) last issued its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.05. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The company had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.12 billion. During the same period in the prior year, the business posted $0.70 EPS. Bank of America’s quarterly revenue was up 15.0% compared to the same quarter last year. Equities 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Friday, March 7th. Bank of America’s dividend payout ratio (DPR) is 32.30%.

Analyst Ratings Changes

BAC has been the topic of several research reports. Evercore ISI reduced their price target on Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a report on Friday, January 17th. Truist Financial boosted their target price on shares of Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Morgan Stanley raised 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 note on Friday, January 17th. Citigroup upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $46.00 to $54.00 in a report on Friday, November 8th. Finally, HSBC upgraded Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Bank of America has an average rating of “Moderate Buy” and an average price target of $48.58.

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.