Lansing Street Advisors Purchases 294 Shares of Bank of America Co. (NYSE:BAC)

Lansing Street Advisors boosted its stake in Bank of America Co. (NYSE:BAC) by 1.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,374 shares of the financial services provider’s stock after acquiring an additional 294 shares during the period. Lansing Street Advisors’ holdings in Bank of America were worth $1,027,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in BAC. Swedbank AB raised its position in Bank of America by 0.7% in the third quarter. Swedbank AB now owns 7,042,374 shares of the financial services provider’s stock worth $279,441,000 after acquiring an additional 50,849 shares during the period. Silver Oak Securities Incorporated raised its position in Bank of America by 40.7% in the third quarter. Silver Oak Securities Incorporated now owns 10,945 shares of the financial services provider’s stock worth $431,000 after acquiring an additional 3,164 shares during the period. Sigma Investment Counselors Inc. raised its position in Bank of America by 12.0% in the third quarter. Sigma Investment Counselors Inc. now owns 11,993 shares of the financial services provider’s stock worth $476,000 after acquiring an additional 1,281 shares during the period. Mayfair Advisory Group LLC raised its position in Bank of America by 19.5% in the third quarter. Mayfair Advisory Group LLC now owns 11,735 shares of the financial services provider’s stock worth $471,000 after acquiring an additional 1,911 shares during the period. Finally, Smith & Howard Wealth Management LLC raised its position in Bank of America by 262.5% in the third quarter. Smith & Howard Wealth Management LLC now owns 19,649 shares of the financial services provider’s stock worth $780,000 after acquiring an additional 14,228 shares during the period. Institutional investors own 70.71% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on BAC. Citigroup upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $46.00 to $54.00 in a research note on Friday, November 8th. UBS Group upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $43.00 to $53.00 in a research note on Tuesday, January 7th. Truist Financial lifted their target price on shares of Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. HSBC upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Tuesday, January 7th. Finally, Barclays lifted their target price on shares of Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $48.58.

Bank of America Price Performance

Shares of NYSE:BAC opened at $44.80 on Friday. The company’s fifty day moving average price is $45.75 and its 200-day moving average price is $43.37. The firm has a market capitalization of $343.71 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 1.22 and a beta of 1.33. Bank of America Co. has a one year low of $33.37 and a one year high of $48.08. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78.

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 firm had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.12 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.70 EPS. On average, equities research analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.32%. Bank of America’s dividend payout ratio (DPR) is 32.30%.

Bank of America Company 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.